Activ Surgical, a surgical intelligence software powered by machine learning, raised $45 million in a Series B financing round led by Cota Capital, an investment firm focused on enterprise technology companies.
New investors, including BAM Funds, Magnetar Capital, Mint Ventures, Castor Ventures, Dream One Vision NVIDIA, and existing investors DNS Capital, Tao Capital Partners, LRVHealth, Rising Tide VC, GreatPoint Ventures (GPV), and ARTIS Ventures also participated in the Series B financing round.
Including the latest funding round, Activ Surgical has raised $77 million to date.
According to the company, Activ’s hardware-agnostic platform enables autonomous and collaborative surgery by integrating computer vision, artificial intelligence, and robotics. In 2018, ActivEdge completed the first fully autonomous minimally invasive robotic surgery of soft tissue.
The company plans to use the latest financing round to support the commercial availability of the ActivInsights software suite, including the first Insight, an AR-based overlay that displays tissue perfusion in real-time without the use of traditional dyes.
Activ Surgical will also use the funds to support commercialization in the U.S., pursue a CE mark in support of the global rollout, further enhance the ActivInsights software platform, and develop its first ML-based insights.
“2021 continues to be a critical year for Activ Surgical as we are laser-focused on democratizing surgical care at the global level,” said Todd Usen, CEO, Activ Surgical. “We received FDA clearance for our ActivSight enhanced visualization module that will power the ActivInsights software suite and were issued our first U.S. patent for ActivSight, as well as completed our first-in-human clinical trials and have grown our team by 35 percent. We are thrilled to be supported by this diverse group of investors, and we welcome Bobby to our Board as we look to make our ActivInsights software suite commercially available in 2022.”
Venture capital (VC) funding into Clinical Decision Support software companies doubled to $1.1 billion in the First Half (1H) of 2021, compared to $545 million in 1H 2020, according to the latest Mercom Digital Health Funding and M&A Report.