Robotics News Hubb
Advertisement Banner
  • Home
  • Robotics News
  • Industrial Automation
  • Contact
No Result
View All Result
  • Home
  • Robotics News
  • Industrial Automation
  • Contact
No Result
View All Result
Gourmet News Hubb
No Result
View All Result
Home Industrial Automation

Galen Robotics brings in $15 million in oversubscribed round

admin by admin
November 6, 2022
in Industrial Automation


Listen to this article

Galen Robotics, a surgical robotics company looking to erase the large capital expenditures end-users face when considering surgical robotics platforms, announced that it brought in $15 million in funding in an oversubscribed Series A round. 

Galen Robotics aims to offer its surgical robotic system, the Galen robot, using a digital-surgery-as-a-service model, a per-usage disposable model. This model allows the end user to pay based on usage of the robot, instead of paying a large lump sum upfront, similar to a robots-as-a-service approach. 

“Because the pandemic wreaked havoc on hospital profits with elective surgeries being postponed, we had to pivot our business model from hospitals paying upfront for capital equipment to “as a Service”. We will be the first robotic company to launch using an On-Demand business model.” Bruce Lichorowic, President and Chief Executive Officer of Galen Robotics, said.

The Galen robot is designed to be easily integrated into current surgical workflows and aid surgeons in performing minimally invasive procedures. Right now, the company is focusing on laryngological procedures, but it hopes to expand the scope of the platform into ENT, neurosurgery, spine and cardiothoracic procedures. 

Galen Robotics used its Series A round to help complete the final prototype of the robot and its submission to the FDA. It also plans to use the funding to develop a clinical sales team, expand engineering, grow product development and develop surgeon training programs. 

Ambix Healthcare Partners, based in Menlo Park, CA, led the Series A round. After closing the round, the company opened a 2nd close for the Series A funding round for an additional $5 million. 

“It was an easy and quick decision for our firm to lead the Galen Series A funding round,” Dr. Aaron Berez, Managing Director of Ambix Healthcare Partners, said. “We watched this team take an early surgical robotic prototype from Johns Hopkins University’s Robotics Lab, develop it into a potential game changer, and submit it to FDA, all during a pandemic. Add to that the current state of supply chain issues, and economic uncertainty, and we’re very impressed with how this team was able to consistently execute and hit their milestones.”



Source link

Previous Post

ANYbotics opens commercial sales of inspection robot

Next Post

A system that allows users to communicate with others remotely while embodying a humanoid robot

Next Post

A system that allows users to communicate with others remotely while embodying a humanoid robot

Recommended

Cepton raises $100M for LiDAR sensors

1 week ago

#IROS2022 best paper awards – Robohub

3 months ago

‘Butterfly bot’ is fastest swimming soft robot yet

3 months ago

Featured video: Creating a sense of feeling

2 months ago

Breaking through the mucus barrier

4 months ago

Galen Robotics brings in $15 million in oversubscribed round

3 months ago

Robotics-(-White-)

© 2022 Robotics News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Robotics News
  • Industrial Automation
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Robotics News
  • Industrial Automation
  • Contact

© 2022 Robotics News Hubb All rights reserved.