Boston-based Activ Surgical has raised a second financing round worth $45 million to develop further its augmented reality software that assists surgeons during procedures.
The company will use the funds to implement its ActivInsights software suite that provides a visual overlay to surgeons in real-time. The software displays blood flow information and perfusion within tissues that are not visible to the naked eye without using specialized equipment and injected dyes.
The company will deploy the funds for the commercialization of ActivInsights in the US, take up the process for regulatory approval in other markets, and work on new features, such as artificial intelligence and machine learning to enhance the platform from being just a visualization tool.
The company had received FDA approval for the platform back in April. It functions as a hardware module that fits between any type of endoscope and camera system. Combined with the software, the package promises to make surgeries more successful by minimizing errors during procedures.
Cota Capital led the current round with new investors BAM Funds, Magnetar Capital, Mint Ventures, Castor Ventures, Dream One Vision and NVIDIA.
Existing investors DNS Capital, Tao Capital Partners, LRVHealth, Rising Tide VC, GreatPoint Ventures (GPV), and ARTIS Venture also participated in the round, taking the total funding raised by Activ Surgical to date to $77 million.
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