Investments in the health robot sector

The Basque company Cyber Surgery closed in October 2018 a 4 million financing round. A number of organisations have participated in this investment, which in our field of research and development has corporate finance we assimilate or categorise as a sale of companiesas they sell part of their equity. We analyse the deal in detail and also mention some of the most recent deals in the sector globally.

Getting to know Cyber Surgery

Cyber Surgery, with headquarters in San Sebastian, is a company dedicated to the development of a robotic assistant for spinal operations. It was founded in 2017 and is a spin-off of the Gipuzkoa-based group Egile.

The robotic assistant developed by Cyber Surgery improves safety and precision in delicate spinal operations. The project was born within the R&D department of the Egile groupAfter the success of their prototype, they have been set up as a company, initiating the path towards the industrialisation of the system. Their high growth expectations were motivated by a move to the Science and Technology Park of Gipuzkoa.

In mid-2018 they won the New Enterprise Award at the XXVIII edition of the awards. Toribio Echevarría. In this link you can read the interview published by the SPRI Group with the company's CEO, Jorge Presa.

4 million financing round

On 25 October 2018, we learned of the round of funding obtained by Cyber Surgery. Its great future projection driven by several successes of the project (the robot was tested with animals and with human cadavers obtaining very good results) confirmed a 4 million euro round for the organisation from Gipuzkoa.

Investors in the project include Geroa Pentsioak, Basque Fundthe Igualmequisa Group and Salesoc.

Geroa is a system in which workers, through small efforts shared with their companies throughout their working lives, build up their own supplementary pension. It is a non-profit organisation where the profits obtained are fully invested in future pensions.

Basque Fund is a new public investment instrument of the Basque Government endowed with 5 million euros to facilitate the development and consolidation phases of new Basque innovative companies supported by the BICs.

The Igualmequisa Group and Salesoc, for their part, have also taken part in this ".sale of companies"The amounts contributed by each of them are not known.

Other funding rounds worldwide

• Auris Health raised a $220 million round on 28 November 2018. The Californian medical company that develops robotic technology for medical applications raised a Series E round, primarily conducted by Partner Fund Management.

• On 17 September 2018, a round of funding was conducted to WHILLa company dedicated to designing and creating personal mobility products. The investment amounted to USD 45 million and was categorised as a Series C. The lead investors consisted of the Japanese Whiz Partners, SBI Investments y Daiwa Securities Group.

• Cambridge medical device pioneer CMR Surgical made history on 4 June with an astonishing $100 million Series B fundraising. The lead investor in the deal was Silk Road Fund.

• Corindusa US developer of precision vascular robotics, announced on 16 March the closing of the agreement to issue Series A convertible preferred stock to investors such as Hudson Executive Capital or BioStar Ventures. The overall amount of the transaction was $25 million.