The company is currently building a hardware-agnostic platform to enable autonomous and collaborative surgery through the integration of computer vision, artificial intelligence, and robotics.
FREMONT, CA: Digital surgery pioneer, Activ Surgical, secured USD 15 million in a venture round led by ARTIS Ventures, a venture firm focused on pioneering investments at the intersection of life sciences and computer sciences. LRVHealth, the "Inside Healthcare" venture capital platform, also participated in the series, along with existing investors DNS Capital, GreatPoint Ventures (GPV), Tao Capital Partners, and Rising Tide VC. As part of the investment round, Ameena El-Bibany from ARTIS Ventures and Will Cowen from LRVHealth will join the Activ Surgical Board of Directors.
"We believe Activ Surgical's platform and technology are poised to transform the surgical space by enabling existing surgical systems and robots to visualize what surgeons can't and guide them, thus making surgeries safer, reducing errors and improving patient outcomes," said Ameena El-Bibany, principal, ARTIS Ventures. "They have achieved major milestones in just a few years, advancing their technology from early proof of concept to their first market-ready product to be launched with early access partners in 2021. We look forward to partnering with the company to bring impact to both surgeons and patients."
Activ Surgical is currently building a hardware-agnostic platform to enable autonomous and collaborative surgery through the integration of computer vision, artificial intelligence, and robotics. The company will use proceeds from the investment to accelerate U.S. commercialization and European expansion efforts for its ActivEdge platform, which enables existing surgical systems, from scopes to robots, to visualize, characterize and track tissue, in real-time beyond today's human capability. Since its inception, the company has raised a total of USD 32 million.
"Activ Surgical is poised to play a leading role in the democratization of surgical care, extending insights from experienced surgeons to surgical systems all over the globe, and ensuring world-class care for all, regardless of location," said Todd Usen, CEO, Activ Surgical. "We welcome the guidance and support from our new and current investors and Board members as we accelerate our efforts to commercialize our first product, ActivSight. 2020 will be pivotal for our business with committed pilot projects with major hospital systems slated to launch by the end of this year."
Preventable medical errors are the third leading cause of death after heart attack and cancer, with preventable surgical errors costing U.S. health care over USD 36 billion and 400,000+ deaths every year. Activ Surgical's patent-protected surgical software platform reduces unintended and preventable surgical complications by enhancing a surgeon's intra-operative decision making. Activ Surgical was listed as one of the Top Artificial Intelligence Solution Providers by the Healthcare tech Outlook magazine for 2020.