PARIS—- Ganymed Robotics, a provider of computer vision software and robotics technology for orthopedic surgeons, announced an additional EUR 15 million closing to its Series B, increasing the total Series B sum to €36 million. The European Innovation Council Fund and Cap Horn spend €14 million through their Accelerator Program.
The French national investment bank, Bpifrance, issued a €1 million loan to support market entry activities. In July 2022, Cathay Health announced the inaugural Series B closure of €21 million, which Crédit Mutuel Innovation, Kurma Partners, and BNP Paribas Développement joined.
The money will be utilized to finish developing Ganymed Robotics’ surgical robotic assistance for knee arthroplasty (TKA), expedite regulatory and market access initiatives, and diversify the innovative product pipeline.
“Welcoming such highly valued investors a few months after an oversubscribed Series B first close puts us in an extraordinarily stable position despite a worldwide financing crisis for startups. “We now have the resources and experience to bring our unique patented technology to market, to become the standard of care for joint replacement,” says Sophie Cahen, Ganymed Robotics’ CEO and co-founder.
“Robotic help, coupled with image guidance and clinical decision tools, will be vital to pushing the limits of what can be done surgically and, even more important, to deliver excellent treatment to everyone, everywhere, in the context of a worldwide scarcity of medical experience and staff. Ganymed Robotics is ideally positioned to triumph on both fronts in the field of joint replacement, thanks to its intuitive technology and highly competent staff,” said Michel Therin, DVM, Ph.D., Chairman of Ganymed Robotics’ Board.
TKA operations are predicted to increase from 2.4 million in 2021 to 5.7 million in 2030 in the OECD alone. Despite this, 95% of procedures are carried out without technology, resulting in suboptimal results; patient unhappiness is less than 20%. Ganymed’s technology promises to enhance patient outcomes and surgeon experience in a value-based care context. Ganymed intends to develop its technology platform after total knee arthroplasty to accommodate additional market demands.
About the company:
Ganymed Robotics, launched in 2018, is a medical device startup dedicated to creating the next generation of robotic support technologies for orthopedic surgery. The firm aims to enhance patient outcomes, surgeon experience, and overall care delivery efficiency for its target indications. Ganymed Robotics, based in Paris, employs 30 individuals working on a unique technological platform that combines computer vision, a branch of artificial intelligence, and mechatronics in close collaboration with world-class physicians and consultants. The first is a robotic surgical assistant for knee arthroplasties, a common and rapidly rising technique with high dissatisfaction rates of more than 20%.
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