Proprio, a Seattle-based surgical technology company, announced that it has secured $43 million in Series B funding from new and existing investors. The capital fuels commercialization to address significant demand for Proprio’s AI-driven surgical navigation platform in the US and overseas.
Proprio’s flagship surgical navigation platform, Paradigm™, achieved a significant milestone this year by obtaining 510(k) c******** from the U.S. Food and Drug Administration (FDA). Paradigm harnesses the power of light field technology and artificial intelligence to generate a real-time 3D visualization of surgery. Paradigm provides surgeons with Volumetric Intelligence™, which uniquely combines medical images with live data from Paradigm’s sensor suite.
CIO INFLUENCE: World Password Day: Password advice for CIOs
The Paradigm system delivers many advantages for surgeons and patients.It eliminates the need for intraoperative scans, reducing radiation exposure to the patient and surgical staff.This saves up to 30 minutes per procedure, increasing the availability of care to patients. By quickly registering imaging data to the anatomy within surgical workflows, Paradigm delivers a high degree of accuracy and enables surgeons to maintain focus on the patient.
Proprio’s live, 3D, multi-modal data represents a significant upgrade over current static approaches to surgical navigation and the company plans to apply its technology to many surgical specialties beyond its first targets in spine procedures. Proprio’s Paradigm system is capable of collecting a tremendous amount of surgical data that can be utilized for the development of many applications beyond status quo approaches to surgery.
CIO INFLUENCE: CIO Influence Interview with Lior Yaari, CEO and Co-Founder at Grip Security
“We are just beginning to reveal the potential applications of Proprio’s technology and data,” said Gabriel Jones, CEO and co-founder of Proprio. “This investment arrives at a pivotal moment, as we perform our first-in-human cases and bring Paradigm to patients around the world. Together, these milestones are a testament to the unparalleled capabilities of the Proprio Paradigm and its potential to revolutionize surgery.”
“For some time, we have been searching for a company that has the potential to disrupt traditional medical device businesses at scale with data. Proprio represents that kind of opportunity and we are honored to join the investment group,” said Alf Grunwald, Executive Advisor of Bird B. AG, a global investment partnership with significant surgical software and medical device investments in both public and private markets.
CIO INFLUENCE: CIO Influence Interview with Russ Ernst, Chief Technology Officer at Blancco
[To share your insights with us, please write to sghosh@martechseries.com]
