Augmedics, a pioneer in augmented reality (AR) surgical visualization technology, has successfully raised $82.5 million in a series D funding round led by Dallas-based CPMG with Evidity Health Capital as a syndicate partner. Other participating investors includes H.I.G. Capital, Revival Healthcare Capital, and Almeda Ventures. The funds will be used to accelerate the adoption of the company's groundbreaking AR spine surgery tech.
The startup's flagship product, the xvision Spine System (XVS), is an AR surgical navigation system designed to give surgeons "X-ray vision" during complex procedures. It allows surgeons to visualize the 3D spinal anatomy of a patient as if they were looking directly at it, without the need to look away at a remote screen.
The patented technology was created to improve surgical procedures, promote better patient outcomes, and make surgeries more cost-effective. The system aims to increase the safety and accuracy of spine surgeries by providing real-time navigation throughout the operation, thus reducing the need for reoperations.
This latest funding will enable Augmedics to expand the capabilities of XVS, advance other projects in their pipeline, and speed up the broader adoption of their AR technology in the spine surgery field. The startup has raised $133 million in funding to date. The funding comes on the heels of the startup marking its record 4,000th US patient treated with the xvision Spine System®