XACT Robotics, a Hingham, Mass.- and Caesarea, Israel-based company founded in 2013, closed a $36 million Series D round of financing. The funding will be used to develop and commercialize the FDA-cleared XACT Robotic System.
The XACT Robotic System, which also has CE Mark, is a hands-free robotic system that combines image-based planning and navigation with insertion and steering of various instruments to a desired target during percutaneous procedures.
XACT’s robot is being used at two robotic radiology centers: one in Burlington, Mass. and one is in Jerusalem. The Robot Report is speaking with XACT later this week and will update this post. Its main priority is selling the system in the US before rolling it out in Europe and beyond.
XACT Robotics was founded by Harel Gadot, an entrepreneur in the healthcare robotics space. The company’s technology is based on research conducted at the Technion – Israel Institute of Technology, by Prof. Moshe Shoham, the founder of Mazor Robotics, which was acquired by Medtronic in 2018.
The Robot Report is launching the Healthcare Robotics Engineering Forum, which will be on Dec. 9-10 in Santa Clara, Calif. The conference and expo will focus on improving the design, development, and manufacture of next-generation healthcare robots. Learn more about the Healthcare Robotics Engineering Forum, and registration is now open.
“As we continue to build momentum for our robotic system, we will use the recent funding to launch the system to select U.S. radiology Centers of Excellence partners,” said Chen Levin, CEO, XACT Robotics. “In addition, we will invest to continue expanding the utilization of the system and support our future launch cycle, including compatibility of the XACT Robotic System with additional imaging modalities and clinical applications to address a broad range of patient care needs.”
The Series D financing round included leading investors in the surgical robotics space, such as Chasing Value Asset Management Inc. (CA, USA) which previously held positions in MAKO Surgical Corp. (acquired by Stryker Corp. in 2013), Mazor Robotics (acquired by Medtronic in 2018), and most recently Corindus Vascular Robotics (acquired by Siemens in 2019). They join the current shareholders of the company including Shizim Group and MEDX Ventures Group. To date, XACT Robotics has raised about $55 million.