Home MedTech & BioTech Medtech startup Avail Medsystems raises US$ 100M

Medtech startup Avail Medsystems raises US$ 100M

Avail medsystems

California based Medtech startup Avail Medsystems raised US$ 100M in a Series B funding on 9 October 2020. The total funds raised by the company stand at US$ 127.9.

The Series B funding was led by D1 Capital Partners. Other participants include 8VC and the company’s existing investors, Lux Capital, Coatue, Sonder Capital, Playground Global, Baidu Ventures and Refractor Capital.

The funds raised will be utilized to push into new clinical specialties, such as cardiovascular intervention, neurology and orthopedics. It will also help in further improvement in access to medical expertise, save time and money for healthcare facilities, medical device companies, and ultimately patients. The funds will enable more rapid adoption of new medical technologies as well.

Avail Medsystems had previously raised US$ 25M in Series A and Series A-1 funding from investors including Lux Capital, Coatue, Sonder Capital, Playground Global, Baidu Ventures, and Refactor Capital.

About Avail Medsystems

Avail Medsystems

Avail Medsystems is a medical technology company that develops telemedicine software for the procedure room. Founded in 2018 by Daniel Hawkins, Avail Medsystems specializes in designing and manufacturing medical devices that can be utilized during procedures for video conferencing with other medical professionals. The Palo Alto, Californian startup’s technology allows surgical teams to consult with outside experts virtually while they are in the middle of a procedure.

The startup aims to democratize access to clinical and procedural expertise by removing physical, economic, and logistical barriers. Avail Medsystems’ Procedural Telemedicine System is built especially for the operating room and enables surgeons, outside experts, and the healthcare ecosystem to better serve patients by delivering the right knowledge and to the right people. The Procedural Telemedicine solution enables on-the-go collaboration with any remote healthcare professional.

The technology was developed over a period of three years by a team with more than 400 years of combined medical technology development, sales, and marketing experience.

“For too long, medical information sharing and collaboration have depended on in-person communication, which is costly and time-consuming and increases infection risk. Our purpose-built technology removes these barriers, enabling medical collaboration, information sharing, and training independent of location. While our journey began long before COVID-19, the pandemic has shone a spotlight on these issues and accelerated the need for a remote presence in the operating room.” said CEO of Avail Medsystems Daniel Hawkins.

Some of the competitors of the startup are InfiniteMD, RubiconMD, MediOrbis and Oncoshot.

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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