Neocis, a Miami-based healthcare robotics company, announced Monday that it closed a $30 million equity financing round.
The round was raised from its existing investors, including Mithril Capital Management, and joined by new investor Norwest Venture Partners, Neocis said. The funding will support expanded commercialization and R&D efforts.
“We believe there is a huge opportunity for robotics to transform healthcare. Neocis has demonstrated their ability to revolutionize dental surgery,” said Norwest Partner Dr. Robert Mittendorff, who joined the board.
Neocis was co-founded in 2009 by Alon Mozes and Juan Salcedo, both engineers who met while working at Mako Surgical. In 2017, Neocis received FDA clearance for Yomi, the first and only robot-assisted surgical platform for the dental industry. Yomi provides assistance in both the pre-operative planning and the surgical phases of dental implantation surgery.
Yomi, affectionately named after a family dentist friend, provides surgical guidance through the use of robotic technology, enabling a minimally invasive flapless approach, which has been proven to lead to faster and less painful surgery and recovery for the patient, the company says.
Prior to this round, the company raised $20.9 million, according to Crunchbase. Investors also include robotic surgery industry pioneer Fred Moll.
“Having a group of investors and a board of directors so experienced in successfully commercializing robotic surgery will be critical as Neocis charges into the next phase of growth,” said Mozes, CEO of Neocis, in a statement. “This funding will secure our opportunity to expand sales and adoption of Yomi and continue to innovate in the robotic surgery space.”