$15M Series A to Fund Surgical Robots As A Service
Episode description
I spoke with Dave Saunders, CTO of Galen Robotics. His company is creating the “Uber” of surgical robots. Galen Robotics will place robots at hospitals and charge per use. This helps increase access to the latest surgical robots. It’s a fascinating hardware and software play, but Dave states that 80-90% of the technology in surgical robots is software.
Galen Robotics, a Baltimore, Maryland-based Digital-Surgery-as-a-Service pioneer, 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.
- Founded in 2016
- Staff of 40; HQ in Baltimore
- Pre-revenue but hope to sell in 2023
- You need to show constant forward motion
- Don’t get greedy with valuation
Dave Saunders LinkedIn: https://www.linkedin.com/in/nemock/
Fundraising Story: https://www.thesaasnews.com/news/galen-robotics-raises-15-million-in-series-a/