Augmedics raised $36 million in an oversubscribed Series C financing. This comes eight months after the company closed a $21 million Series B, bringing the total funding to date to $63 million.
Funds will support continued U.S. commercialization and development in ex-U.S. markets for the xvision Spine system, as well as next-gen products, new indications and approval under the CE Mark.
Augmedics' xvision Spine (XVS) is the first and only FDA-cleared augmented reality surgical image guidance system. XVS allows surgeons to visualize a patient's 3D spinal anatomy during surgery as if they had “x-ray vision,” and to navigate instruments and implants while looking directly at the patient.
Following a 1Q20 launch, Augmedics began U.S. sales of XVS in 2H20 and closed the year with over 250 spinal surgeries performed.
“We are very pleased to have completed this large financing round led by H.I.G. Capital, Revival Healthcare Capital, and Almeda Ventures, which will enable us to promote and expand our operations and meet the strong demand we are experiencing for our technology in the U.S. following our commercial launch last year,” said Nissan Elimelech, CEO and founder of Augmedics.