Proprio, a Seattle-based surgical technology company, has announced the successful completion of a Series B funding round, raising an impressive $43 million from both new and existing investors.
This substantial capital injection is earmarked for fueling the commercialization efforts of Proprio’s AI-driven surgical navigation platform, catering to the surging demand for their innovative technology in the United States and overseas.
A major achievement for Proprio this year was the attainment of 510(k) clearance from the U.S. Food and Drug Administration (FDA) for their flagship surgical navigation platform, Paradigm™. This cutting-edge platform leverages the power of light field technology and artificial intelligence to generate real-time 3D visualizations of surgical procedures.
The Paradigm platform provides surgeons with Volumetric Intelligence™, a unique blend of medical images and live data captured by Paradigm’s sensor suite.
The Paradigm system offers a host of advantages for both surgeons and patients. By eliminating the need for intraoperative scans, it reduces radiation exposure to patients and surgical staff, while also saving up to 30 minutes per procedure, thus increasing the availability of care to patients.
Additionally, the platform’s ability to quickly register imaging data to the anatomy within surgical workflows ensures a high level of accuracy and enables surgeons to maintain their focus on the patient.
Proprio’s live, 3D, multi-modal data sets a new standard in surgical navigation, surpassing current static approaches. The company intends to extend its technology to various surgical specialties beyond its initial focus on spine procedures. The Paradigm system has the potential to accumulate an immense amount of surgical data, which can be harnessed to develop a wide range of applications, challenging the status quo in surgical approaches.
Gabriel Jones, CEO, and co-founder of Proprio expressed excitement about the potential applications of their technology and data, especially as they embark on their first-in-human cases and introduce Paradigm to patients worldwide.
These significant milestones stand as a testament to the extraordinary capabilities of the Proprio Paradigm and its potential to revolutionize the field of surgery.
Joining the investment group, Alf Grunwald, Executive Advisor of Bird B. AG, a global investment partnership with substantial surgical software and medical device investments in public and private markets, acknowledged that Proprio presents a unique opportunity to disrupt traditional medical device businesses on a large scale with their data-driven approach.
The investment reflects a shared belief in the transformative impact of Proprio’s technology on the medical industry.