Caira Surgical Secures $ 5 Million Seed Funding to Develop New Standard of Navigational Care and Robotic Solutions for Joint Replacement Surgery
Pioneering Company Removes Barriers to Navigational and Robotic Joint Replacement Adoption with New Radar Surgical Tracking Technology and Cost-Effective, Small-Footprint Surgical Solutions
Caira team members at a technology development lab, Houston, TX
NEW YORK, January 04, 2022 (GLOBE NEWSWIRE) – Cairo surgery announced its latest inflow of $ 5 million in seed capital in an oversubscribed serial seed funding that closed last month. Caira’s investor syndicate includes smart venture capitalists and strategic MedTech investors.
Caira’s proprietary technology seeks to revolutionize the usability, safety and accessibility of advanced surgical navigation and robotics for orthopedic surgery. The company’s first product is a revolutionary sub-millimeter precision radar tracking system for knee replacement surgery. The system leverages advanced radar technologies to overcome line-of-sight interference and eliminate the invasive surgical equipment and expensive, large-footprint capital equipment inherent in existing surgical tracking systems.
âWe are excited to reach this funding milestone in partnership with our industry savvy investors,â said Jon Greenwald, Co-Founder and CEO of Caira Surgical. The strategic leader of Medtech for more than 20 years explained: âThe seed funding for the series allows Caira to continue to develop our cutting-edge technology and to have a positive impact on orthopedic surgery and patient well-being. . Additionally, the makeup, commitment and enthusiasm of our investor syndicate ensures that Caira has continued access to the funding and resources necessary to realize our technology vision and achieve our business goals. “
Series seed investors include a leading Strategic OUS and several MedTech venture capital funds. These include the United States Capital of the mountain state; Based in Amsterdam Snowboat BV, a Dutch fund formed by the founders of Avania Clinical (formerly Factory-CRO); and in Grenoble, France Haventure, founded by StÃ©phane LavallÃ©e, Ph.D. Dr. Lavallee is also the founder of the surgical robotics company eCentenial. Previously, Dr Lavallee founded the surgical technology company Orthotaxy, which was acquired by the Johnson & Johnson Medical Devices Companies, through the French subsidiary Apsis SAS in 2018.
Caira’s previous funding includes a Friends & Family pre-seed funding that closed in 2020. In addition, the company received a National Science Foundation Small Business Technology Transfer Grant for $ 256,000 to research and develop new radar tracking for navigation and robotics in orthopedic surgery.
In 2021, Caira was selected as one of the 25 companies to participate in the MedTech Innovator Accelerator and was recognized as a Top 5 finalists for the MedTech Innovator Execution Award. The company has also been granted residency and access to Johnson & Johnson Innovation – JLABS @ NYC in lower Manhattan.
Caira’s significant addressable market for joint replacement navigation and robotics technology was $ 5.1 billion in 2019, and is expected to grow to over $ 13 billion by 2030.
Caira is developing its groundbreaking innovations as a technology platform that will expand to address hip and shoulder replacement surgery and spine applications.
For more information, please visit cairasurgical.com.
A photo accompanying this announcement is available on https://www.globenewswire.com/NewsRoom/AttachmentNg/c52944af-591f-4624-baec-47bd5e06bc17
CONTACT: Contact: Irina Benimovich Chief Financial Officer [email protected]