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Memic, a startup developing a robotic-assisted surgical platform that recently received marketing authorization from the U.S. Food and Drug Administration, today announced that it has closed a $96 million Series D funding round. The round was led by Peregrine Ventures and Ceros, with participation from OurCrowd and Accelmed. The company plans to use the new funding to commercialize its platform in the U.S. and expand its marketing and sales efforts outside of the U.S., too.
The company previously raised a total amount of $31.8 million, according to Crunchbase, including about $12.5 million raised through crowdsourcing platform OurCrowd.
Image Credits: Memic
The Hominis, as the company calls its platform, has been authorized for use in “single site, natural orifice laparoscopic-assisted transvaginal benign surgical procedures including benign hysterectomy.” It’s worth noting that the robot doesn’t perform the surgery without human intervention. Instead, surgeons control the device — and its robotic arms — from a central console. The company notes that the instruments are meant to replicate the motions of the surgeon’s arms. And while it’s currently only authorized for this one specific type of procedure, Memic is looking at a wide range of other procedures where a system like this could be beneficial.
“The Hominis system represents a significant advancement in the growing multi-billion-dollar robotic surgery market. This financing positions us to accelerate our commercialization efforts and bring Hominis to both surgeons and patients in the months ahead,” said Dvir Cohen, co-founder and CEO of Memic.
It’s worth noting that there are a wide range of similar, computer-assisted surgical systems on the market already. Only last month, Asensus Surgical received FDA clearance for its laparoscopic platform to be used in general surgery, for example. Meanwhile, eye surgery robotics startup ForSight recently raised $10 million in seed funding for its platform.
Memic’s Hominis is the first robotic device approved for benign transvaginal procedures, though, and the company and its investors are surely betting on this being a first stepping stone to additional use cases over time.
“Given the broad potential of Hominis combined with a strong management team, we are proud to support Memic and execution of its bold vision,” said Eyal Lifschitz, managing general partner of Peregrine Ventures.