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.
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.
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.