Ganymed Robotics, a Paris, France-based developer of computer vision software and robotics technologies for orthopedic surgeons, announced it has extended its Series B with an additional €15 million, bringing the total Series B amount to €36 million.
The Fund of the European Innovation Council, through its Accelerator Program, and Cap Horn invest €14 million. Bpifrance, the French national investment bank, extended a €1 million loan to finance market access work.
The combined funds will be used to complete the development of Ganymed Robotics’ surgical robotic assistant for knee arthroplasty (TKA), accelerate regulatory and market access activities, and diversify the innovation product pipeline.
“Welcoming such highly valuable investors a few months after an oversubscribed Series B first close, puts us in an extremely solid position amid a worldwide financing crunch for start-ups. We now have the resources and expertise to bring our unique patented technology to market, with the aim to become standard of care for joint replacement,” says Sophie Cahen, CEO and co-founder of Ganymed Robotics.
Ganymed Robotics’ ambition is to democratize access to quality care in orthopedics and allow all such patients throughout the world, to benefit from high-quality care.
It has developed a proprietary technology platform built around two disruptive innovations: contactless localization of the bones and human-machine collaborative movement. The first application is a co-manipulated surgical robotic assistant for total knee arthroplasty (TKA).
Ganymed’s device aims to improve both patient outcomes and surgeon experience in a value-based care environment. After total knee arthroplasty, Ganymed is planning to expand its technology platform to address other market needs.
Company: GANYMED ROBOTICS SAS
Round: Extended Series B
Funding Month: January 2023
Lead Investors: European Innovation Council
Additional Investors: Bpifrance
Company Website: https://www.ganymedrobotics.com/
Software Category: AI and Robotics Technologies for Orthopedics
About the Company: Founded in 2018, Ganymed Robotics is a medical device company that develops advanced AI and robotics technologies for orthopedics. Its mission is to improve patient outcomes, surgeon experience, and overall efficiency of joint replacement interventions. The company technology platform enables surgeons to deliver patient-specific care without the hassle and invasiveness of cutting guides, optical tracking, and intra-medullary rods. Based in Paris, Ganymed Robotics currently employs 30 people who develop a proprietary technology platform combining computer vision, a branch of artificial intelligence, and mechatronics, in close collaboration with world-class clinicians and advisors. The company won national and international innovation awards, such as I-Lab, French Tech DeepNum20, French Tech Emergence, Deep Tech Pioneer, EIT Health, Wilco, and EIC Accelerator.