Mazor Robotics To Get $15 Million Equity Funding; Medrobotics gets $8

By Frank Tobe | August 13, 2012

Larry Ellison's Oracle Investment Management invested $7.5 million; the remainder comes from an issuance of ordinary shares.

Part of the deal is to upgrade Mazor Robotic's Israeli ADR to be listed on the American NASDAQ.

Mazor sales are rising steadily as more hospitals are acquiring their Renaissance/spine surgery/implant system. Second quarter financial results reflect a four-fold increase from a year ago. “We have made significant progress in placing our Renaissance systems in prestigious hospital networks, particularly within the important U.S. market,” says company CEO.

Medrobotics, a robotic surgical products company making cardioARM, a robotic probe controlled remotely and designed to enable surgeries with minimal or no incisions, filed an $8M round of equity, warrants and other options as part of a $20 million Series D offering. A total of 18 investors participated.

About The Author

Frank Tobe

Frank Tobe is the founder of The Robot Report and co-founder of ROBO Global which has developed a tracking index for the robotics industry, the ROBO Global™ Robotics & Automation Index. The index of ~90 companies in 13 sub-sectors tracks and captures the entire economic value of this global opportunity in robotics, automation and enabling technologies.