memic Raises $96M to Advance Robot-Assisted Surgery

Memic Secures $96 Million in Series D Funding for Robotic Surgical Platform

Memic, a company innovating in the field of robotic-assisted surgery, has announced the successful completion of a $96 million Series D funding round. This follows recent marketing authorization received from the U.S. Food and Drug Administration for their surgical platform.

Funding Details and Investors

Peregrine Ventures and Ceros spearheaded the investment round. Additional participation came from OurCrowd and Accelmed. The newly acquired capital will be strategically allocated to facilitate the commercial launch of the platform within the United States.

Prior to this round, Memic had already secured a total of $31.8 million in funding, as reported by Crunchbase. A significant portion, approximately $12.5 million, was raised through the crowdsourcing platform, OurCrowd.

The Hominis Platform and its Capabilities

The company’s platform, known as Hominis, has received authorization for use in specific benign surgical procedures. These include single-site, natural orifice laparoscopic-assisted transvaginal procedures, specifically benign hysterectomy.

It is crucial to understand that the Hominis system does not operate autonomously. Surgeons maintain complete control, operating the device and its robotic arms from a dedicated console.

The instruments are designed to precisely mimic the movements of a surgeon’s arms. While current FDA authorization is limited to the aforementioned procedure, Memic is actively exploring the potential application of this technology across a broader spectrum of surgical interventions.

Company Vision and Market Position

“The Hominis system represents a significant advancement in the growing multi-billion-dollar robotic surgery market,” stated Dvir Cohen, co-founder and CEO of Memic. “This financing positions us to accelerate our commercialization efforts and bring Hominis to both surgeons and patients in the months ahead.”

Competitive Landscape

The market for computer-assisted surgical systems is becoming increasingly competitive. Asensus Surgical, for instance, recently obtained FDA clearance for its laparoscopic platform intended for general surgery applications.

Furthermore, ForSight, a startup focused on robotic eye surgery, recently raised $10 million in seed funding to further develop its platform.

First-to-Market Advantage

Memic’s Hominis holds the distinction of being the first robotic device approved for benign transvaginal procedures. Both the company and its investors anticipate this approval will serve as a foundational step towards expanding the system’s approved applications over time.

Investor Confidence

Eyal Lifschitz, managing general partner of Peregrine Ventures, commented, “Given the broad potential of Hominis combined with a strong management team, we are proud to support Memic and execution of its bold vision.”

This investment underscores the confidence in Memic’s technology and its potential to reshape the future of minimally invasive surgery.