After closing a $45 million Series B round just six months ago, Boston-based Activ Surgical announced on Tuesday that it pulled in an additional $15 million as an extension to the round.
The extension was led by Hikma Ventures and brings the startup’s total funding to date to $92 million.
“The early feedback on the Activ Surgical technology has been very exciting and there was tremendous outside interest to invest in the company prior to a Series C round,” Activ Surgical CEO Todd Usen told Built In via email. “The opportunity to extend our runway well into 2023 gives the organization a chance to have a ‘singular focus’ on a successful ActivSight imaging module commercial launch in 2022 without taking our eyes off the ball.”
The company’s recent raise will go toward scaling the business and establishing a rollout for it’s initial product offering, ActivSight.
When Built In last caught up with Activ Surgical in September, ActivSight had recently received FDA 510(k) clearance. The tool is backed by artificial intelligence and machine learning and can be hooked up to any endoscope to help surgeons see things in surgery that often go unnoticed, like blood flow through microscopic vessels inside tissue.
The company is eyeing U.S. and European-based hospitals to pilot ActivSight. The tool should “be broadly available in 2022,” according to a company statement.
Usen said additional plans for funding will go toward hiring and attracting “top-notch talent.” The startup currently has five open roles.
Enhancing patient safety is a core part of Activ Surgical’s mission, according to Usen. Overtime, the company plans to build tools beyond ActivSight that incorporate robotics and augmented reality into surgical equipment to make the surgical process easier on doctors and safer for patients.
“We are thrilled to invest in Activ Surgical and support their mission to democratize surgical care and to eliminate unintended surgical complications to improve patient outcomes and empower surgeons across the globe,” Lana Ghanem, managing director of Hikma Ventures, said in a statement.
