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Activ Surgical, a Boston-based software developer for robotic surgery, raised $45 million in Series B funding. The funding will support the commercial availability of its ActivInsights software suite, which includes an augmented reality-based overlay that displays tissue perfusion in real time without the use of traditional dyes.
Activ Surgical will also use the funds to support commercialization in the U.S., pursue a CE mark in support of the global rollout and further enhance the software platform. The goal of Activ’s software suite is to enable autonomous and collaborative surgery through the integration of computer vision, artificial intelligence (AI), machine learning (ML), AR and robotics.
“2021 continues to be a critical year for Activ Surgical as we are laser focused on democratizing surgical care at the global level,” said Todd Usen, CEO, Activ Surgical. “We received FDA clearance for our ActivSight enhanced visualization module that will power the ActivInsights software suite, and were issued our first U.S. patent for ActivSight, as well as completed our first in-human clinical trials and have grown our team by 35 percent.
The Series B round was led by Cota Capital and included seven new investors, including BAM Funds, Magnetar Capital, Mint Ventures, Castor Ventures, Dream One Vision and NVIDIA. They joined existing investors DNS Capital, Tao Capital Partners, LRVHealth, Rising Tide VC, GreatPoint Ventures (GPV) and ARTIS Ventures to close out the Series B round of financing. Activ Surgical has raised a total of $77 million since it was founded in 2017.
“Activ Surgical is on pace to solve the last-mile challenge for the surgical field and revolutionize the operating room as we know it,” said Bobby Yazdani, founder and partner from Cota Capital, who was added to Activ Surgical’s board of directors. “The company’s cutting-edge product portfolio, coupled with its talented and experienced leadership team and staff, has the potential to deliver world class surgery, regardless of geography or economic status, while helping to save lives and reduce medical complications. We are thrilled to be the lead investor on this Series B fundraise and are excited about what the future holds for the company and its technology.”
Activ Surgical said its founder Peter Kim performed the world’s first autonomous robotic surgery of soft tissue in 2017. It claims the patented surgical software platform reduces unintended and preventable surgical complications by enhancing a surgeon’s intra-operative decision making. It said it has more than a dozen hospital systems around the world using its technology or committed to trials of the ActivSight interoperative imaging module and ActivInsights augment reality-based software suite.