LEM Surgical, a provider of surgical robotic solutions for spinal surgery, raised CHF 8.7 million in Series A funding led by Ypsomed Group CEO Simon Michel.
The Swiss surgical robotic startup intends to use the new funds to develop and commercialize its product by early 2024.
About 18,000 new cases of spinal cord injury (SCI) are reported in the US annually, with an estimated 299,000 people living with SCI. Spinal cord injury patients are at a higher risk of premature death. Surgical robots can improve the quality of life for SCI patients, but current technology still has limitations.
“Current commercially available robotic solutions are limited in utilization and offer relatively small clinical value, hence their low adoption rate,” explained Yossi Bar, CEO and Founder of LEM Surgical. “Our expert team of 20 individuals based in Bern, significantly progresses with the development of the ‘Sapien’ system, introducing game-changing capabilities and thereby offering significantly increased clinical utilization.”
LEM Surgical is quietly developing a state-of-the-art product, Sapien, to aid in spinal surgery. The company is working to secure necessary approvals before launching the product, focusing on the US market initially with plans to expand to other countries such as Switzerland.
According to our database, surgical robotics companies have raised more than $1 billion in funding to date. The notable funding rounds in surgical robotics include:
ForSight Robotics, an robotic surgery system for eye surgeons, raised $55 million in Series A funding led by Adani Group with participation from Eclipse Ventures, Mithril Capital, Provenio Capital, Precision Capital, Reiya Ventures, and the Ljungstrom family office.
Activ Surgical, an AI-enabled robotically-assisted surgical endoscopic software system, received an additional $11 million in Series A funding led by DNS Capital, with participation from GreatPoint Ventures (GPV), Tao Capital Partners, SONY Innovation Fund, Rising Tide Financial, WS Investment Company, and Mintz.