Surgical VR developer Augmedics said today it raised $8.3 million in a Series A funding round to support its ViZOR system.
The round was led by Davos, AO Invest, the Israeli Innovation Authority, Terra Venture Partners and other undisclosed investors, the Israel-based company said. Proceeds from the round will support continued R&D, pre-clinical trials of the ViZOR system, distribution partnership and regulatory submissions.
The ViZOR is an altered reality visualization and navigation system designed to allow surgeons to see the patient’s anatomy through skin and tissue to accommodate safer, faster surgeries, Augmedics said. The system, initially intended for use in minimally invasive spinal surgeries, projects a 3D image of a patient’s spine onto a surgeon’s retina in real-time.
“With deep domain knowledge, crystal-clear thinking and continuous improvement, the Augmedics team was able to develop a product that brings tremendous value to surgeons. We are happy to work with them and believe in AR’s potential to shape the future of surgery and contribute to better clinical outcomes for patients. With Augmedics, we believe we are backing the leading company in the field. The accuracy, usability and feel of the product are very impressive and promising,” AO Invest chair Michel Orsinger said in prepared remarks.
Augmedics said that future versions of the device will utilize various sensors to collect data and use deep learning algorithms to analyze and make suggestions, provide alerts and general assistance.
“The ViZOR System brings disruptive augmented reality technology to spine surgeries to increase safety and enhance surgical performance. Augmedics designed The ViZOR to give surgeons the 1st-time opportunity to actually see inside a patients’ anatomy, providing valuable real-time information in a comfortable and intuitive manner,” CEO Nissan Elimelech said in a press release.