Galen Robotics Raises $15 Million in Series A  

by Kay Aloha Villamor in November 2nd, 2022

Galen Robotics, a Baltimore, Maryland-based Digital-Surgery-as-a-Service pioneer, announced that it completed a $15 million 1st close for an oversubscribed Series A funding round led by Ambix Healthcare Partners.

This funding helped complete the final robot prototype and its submission to the FDA. Funds will also be used to develop a clinical sales team, expand engineering, grow product development, and develop surgeon training programs.

Galen Robotics has submitted a new collaborative soft tissue surgical robot, intended to address unmet market needs, to the FDA for consideration. Galen plans to level the surgical playing field by erasing large capital expenditures associated with today's surgical robots. 

Galen Robotics will be the first surgical robotics company to launch as an "as-a-service" using the per-usage disposable model. "Digital Surgery as-a-Service is a new approach to surgical robotics.

"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," said Bruce Lichorowic, President and Chief Executive Officer, Galen Robotics.

To accommodate anticipated demand for this new technology and manage the COVID-affected supply chain, the company opened a 2nd close for the Series A round for an additional $5 million. The second close is expected to go quickly, given the company's stage and forward progress.

Company: Galen Robotics, Inc.

Raised: $15.0M

Round: Series A

Funding Month: November 2022

Lead Investors: Ambix Healthcare Partners

Additional Investors: 

Company Website: https://www.galenrobotics.com/

Software Category: Digital-Surgery-as-a-Service

About the Company: Galen Robotics was founded in 2016, bringing together Silicon Valley and the early work and research in surgical robotics at Johns Hopkins University. Galen Robotics is the pioneer of Digital-Surgery-as-a-Service (DSaaS). Galen will provide advanced surgical assistance in performing delicate or intricate procedures by combining the power of a new microsurgery platform with big data analytics. Galen Robotics aims to fill gaps left by other surgical robotic technologies, focusing on unserved applications in microsurgery, digital surgery, and robotic surgery. The mission of Galen Robotics is to make surgeons' lives easier through assistive technology in the operating room. Galen Robotics is headquartered in Baltimore, Maryland.

Source: https://www.prnewswire.com/news-releases/galen-robotics-announces-over-subscribed-15-million-series-a-to-advance-next-phase-in-surgical-robotics-301663599.html



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