The dental robotics company Neocis announced on 8th October 2020 about closing a US$ 72 million funding round. The enterprise plans to utilize this capital to increase growth by focusing on expanding its customer base along with hiring new employees.
The funding investors
The funding investors included Vivo capital and DFJ Growth along with the participation of existing investors Norwest Venture Partners, Mithril Capital Management, Fred Moll (godfather of robotic surgery), and Section 32.
The robot dental surgery assistant Yom
Since the launch of Neocis in 2009, the company has raised more than US$ 120 million in funding. The assistant robot for dental surgery, Yomi, was launched in the market for the first time in 2019. Neocis robot (Yomi) is currently in use at two dental schools, the school at West Virginia University and the Boston University, to train dental students.
The robot is a computerized guiding system that leverages AI tools that can be used in planning and successfully completing dental implant surgeries. The traditional method for dental implant surgery, a freehand approach, is used by the doctors to cut a flap of tissue for exposing the jawbone. This is the very reason for discomfort for dental patients after surgery. But with the robot Yomi, it is not needed, and the teeth can be implanted swiftly with the reduced risk of complications in extensive surgeries. It has brought another level of accuracy in dental implants, with the provision of software to plan the procedure, which is followed by navigational guidance about the instruments used in surgery to execute the surgical plan successfully. The robot Yomi is the only one to be cleared by the US FDA (Food and Drug Administration) for dental implants.
About Vivo Capital
The global investment firm Vivo Capital is a San Francisco based VC founded in 1996 by Frank Kung and Edgar G Engleman. It has under US$4.3 billion assets and has invested in more than 250 companies globally. The team of PALO Alto headquartered VC has 50+ multi-disciplinary professionals. They majorly invest in the healthcare sector.
About DFJ Growth
The Venture Capital firm DFJ Growth invests in seed, late, and early-stage companies. The company was founded in 2006 by John Fisher, Randy Glein, and Mark Bailey and is headquartered in San Francisco. Draper Fisher Jurvetson(DFJ) invests partners with entrepreneurs who are willing to change the world with technology-willing services.
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