Medical robotics startup Robocath said today that it added about $2 million (€1.7 million) to the more than $5 million it raised earlier this year, taking its total to $7.5 million in funding this year.
Rouen, France-based Robocath, which is developing the R-One robotic platform for coronary angioplasty, is pursuing CE Mark approval in the European Union for the system. R-One is expected to hit the market in Europe and the Middle East next year, the company said.
The latest round included nearly $1.3 million from Crédit Agricole Innovations et Territoires, a fund co-owned by Amundi and France’s alternative & atomic energy commission, and $530,667 (€450,000) from a coalition of angel funders called Cardio Participation, Robocath said. In May the company reported a $5.5 million (€4.7 million) round.
Robocath said it plans to use the latest infusion to begin developing a new device to treat neurovascular conditions such as stroke.
“Supernova Invest’s commitment to us, by investing through the CAIT fund, demonstrates the potential of our technology and its many advantages. R-One opens up new and exciting possibilities for remote interventions, which will help to significantly improve patient care during vascular emergencies. Soon, surgeons will be able to operate whilst taking up a position several meters away from the patient and, in the future, this will increase to several hundred kilometers, with the surgeon working from an expert center. These remote interventions will improve the management of pathologies such as heart attacks and strokes, where time is key to survival. I am certain that this technology will allow us to meet the major challenges of tomorrow’s medicine,” founder & president Philippe Bencteux said in prepared remarks.
“We are particularly proud of this first investment in Normandy with the Crédit Agricole Innovations et Territoires fund. This fund targets companies with great potential in terms of both technology and business. Robocath is a good example of this commitment. In just a few years, the company has developed an unrivaled robotic solution in Europe that it will be able to market by the end of next year. Thanks to its know-how and experience, we are confident that Robocath will quickly become a key player in vascular robotics worldwide,” added Supernova partner Mathieu de La Rochefoucauld.
($1 = €0.848386)
Tell Us What You Think!