Ganymed Robotics Raises Additional €15 M through Series B Extension Bringing Total Amount to €36 M
Ganymed Robotics, a developer of computer vision software and robotics technologies for orthopedic surgeons, announced it has extended its Series B with an additional close of €15 million, bringing the total Series B amount to €36 million. The Fund of the European Innovation Council, through its Accelerator Program, and Cap Horn invest €14 million. Bpifrance, the French national investment bank, extended a €1 million loan to finance market access work. The initial Series B close of €21 million, led by Cathay Health and joined by Crédit Mutuel Innovation, Kurma Partners and BNP Paribas Développement, was announced in July 2022.
The combined funds will be used to complete development of Ganymed Robotics’ surgical robotic assistant for knee arthroplasty (TKA), accelerate regulatory and market access activities, and diversify the innovation product pipeline.
“Welcoming such highly valuable investors a few months after an oversubscribed Series B first close, puts us in an extremely solid position amid a worldwide financing crunch for start-ups. We now have the resources and expertise to bring our unique patented technology to market, with the aim to become standard of care for joint replacement,” says Sophie Cahen, CEO and co-founder of Ganymed Robotics.
“Robotic assistance, together with image guidance and clinical decision tools, will be pivotal to push the limits of what can be achieved surgically and even more important to offer quality care to everyone, everywhere, in the context of a worldwide shortage on medical expertise and staff. Ganymed Robotics, with its proprietary intuitive technology and highly talented team, is uniquely positioned to win on both aspects in the field of joint replacement,” added Michel Therin, DVM, PhD, Chairman of Ganymed Robotics’ Board.
Ganymed Robotics’ ambition is to democratize access to quality care in orthopedics and allow all such patients throughout the world, to benefit from high-quality care. It has developed a proprietary technology platform built around two disruptive innovations: contactless localization of the bones and human-machine collaborative movement. The first application is a co-manipulated surgical robotic assistant for total knee arthroplasty (TKA).
The market for TKA is expected to rise from 2.4 million procedures in 2021 to 5.7 million in 2030 in the OECD alone. Yet 95% are performed without technological assistance, leading to sub-optimal outcomes; patient dissatisfaction rate is above 20%. Ganymed’s device aims to improve both patient outcome and surgeon experience in a value-based-care environment. After total knee arthroplasty, Ganymed is planning to expand its technology platform to address other market needs.
About Ganymed Robotics
Ganymed Robotics is a medical device company founded in 2018, developing the next generation of robotic assistance technologies for orthopedic surgery. The company’s mission is to improve patient outcome, surgeon experience, and overall efficiency of care delivery for its target indications. Based in Paris, Ganymed Robotics currently employs 30 people who develop a proprietary technology platform combining computer vision, a branch of artificial intelligence, and mechatronics, in close collaboration with world-class clinicians and advisors. The first application is a robotic surgical assistant for knee arthroplasties, a common and fast-growing intervention associated with high dissatisfaction rates of above 20%. Ganymed Robotics intends to progressively deploy its technology to address several other orthopedics indications. Ganymed Robotics won national and international innovation awards, such as I-Lab, French Tech DeepNum20, French Tech Emergence, Deep Tech Pioneer, EIT Health, Wilco, EIC Accelerator. For more information: www.ganymedrobotics.com
About Investors of Series B Extension
About the EIC Fund
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance.
The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.
The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.
About Cap Horn
Cap Horn is a Paris-based VC firm investing in innovative companies across Europe, focusing on Healthtech, Sustainability, and Entreprise software. We partner with outstanding entrepreneurs and commit investments from € 1M to € 15M in high growth companies, from early to late stage. Cap Horn has an active portfolio of 50 companies and supports their development by leveraging its extensive network of business leaders. The firm, established in 2011, is part of the Anaxago Group.
Cap Horn investment in Ganymed Robotics is led by Alex Heraud and Gaston Vasseur.
Bpifrance is the French national investment bank. It finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra-financial services (training, consultancy.) to help entrepreneurs meet their challenges (innovation, export…).
For more information, please visit: www.bpifrance.fr and presse.bpifrance.fr
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005725/en/
Strategies & Image (S&I)
+33 6 03 35 92 05
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hansen Powers Intraday Trading for Skellefteå Kraft21.3.2023 12:00:00 EET | Press release
Hansen Technologies (ASX:HSN), a leading global provider of software and services to the energy, water and communications industries, is pleased to announce a new agreement with Skellefteå Kraft, an energy company operating in Sweden. As part of the agreement, Skellefteå Kraft, will use Hansen Trade for automated intraday trading operations. The intraday trading solution within Hansen Trade will enable Skellefteå Kraft to automate intraday trading operations and reach significant cost savings in balance management. Skellefteå Kraft will thus be able to automate intraday trading operations with a modern and easy-to-use trading solution – thereby allowing the company to produce beneficial outcomes and implement zero-touch automation. This in turn will replace costly, manual interventions, and minimise risks in the real-time intraday market. Stefan Forsgren, Business Area Director, Power System at Skellefteå Kraft commented: “In the current volatile climate, which also encompasses the rap
REPLY: Comwrap Reply Named Adobe 2023 Digital Experience Emerging Partner of the Year - Central Europe21.3.2023 11:30:00 EET | Press release
Comwrap Reply, the Reply Group company that specialises in cloud-native digital experience services has been awarded the prestigious Adobe 2023 Digital Experience Emerging Partner of the Year - Central Europe. The award honours companies that have made leading contributions to Adobe’s business and significantly impacted customer success. This award is the result of a strategic roadmap that started with Adobe in 2008 to provide high-value solutions to customers and organisations throughout the world. This announcement comes after Reply acquired multiple Adobe Specializations in recent years and was named a Platinum Solution Partner in 2022. “Comwrap Reply demonstrated strong collaboration with Adobe Customer Solutions by delivering cloud-native client implementations. They have proven their continued dedication toward growing their Adobe Experience Platform practice in Europe, which contributed significantly to earning this award. We look forward to continuing our strategic partnership
Lineage Logistics Opens Headquarters in Madrid, Spain21.3.2023 11:00:00 EET | Press release
Lineage Logistics, LLC (“Lineage” or the “Company”), one of the leading temperature-controlled industrial REIT and logistics solutions providers worldwide, has opened a new Southern Europe headquarters in Madrid, Spain on 17 March, at an event attended by the Company’s Southern Europe Management team, as well European and US executive leadership and board members from Lineage’s parent company, Bay Grove. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230321005165/en/ Harld Peters, Lineage Logistics President of Europe, and Raúl Fores Valles, Regional Vice President of Southern Europe, deliver remarks at the opening of the company's new headquarters in Madrid. (Photo: Business Wire) The new headquarters in Madrid highlight Lineage’s continued investment in the region and lay the foundation for continued growth. Additionally, the increased focus in Southern Europe creates stronger connections to Lineage Logistics’ network of h
Samsung Announces Ultra-Wideband Chipset with Centimeter-Level Accuracy for Mobile and Automotive Devices21.3.2023 11:00:00 EET | Press release
Samsung Electronics Co., Ltd., a world leader in advanced semiconductor technology, today announced its first ultra-wideband (UWB) chipset, the Exynos Connect U100. With single-digit centimeter accuracy, the new UWB solution is optimized for use in mobile, automotive and Internet of Things (IoT) devices, offering precise distance and location information. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230321005109/en/ Samsung Exynos Connect U100: Ultra-Wideband Chipset with Centimeter-Level Accuracy for Mobile and Automotive Devices (Graphic: Business Wire) Samsung also unveiled ‘Exynos Connect’, a new brand that consolidates its short-range wireless communication solutions, such as UWB, Bluetooth and Wi-Fi that are essential in facilitating an increasingly hyper-connected world. "Our Exynos Connect U100 combines sophisticated ranging and positioning capabilities with strong security to enable hyper-connectivity between peop
Forrester Announces Full Conference Agenda For CX EMEA 202321.3.2023 11:00:00 EET | Press release
Forrester (Nasdaq: FORR) today announced the full conference agenda for its CX EMEA event being held in London and digitally on 10–11 May 2023. At a time when consumer brands are bracing for strong, macro-level headwinds, including inflation, talent shortages, and supply chain issues, a lack of shared vision across the business is a challenge. The time is now for customer-facing functions to establish a shared, collective understanding of the customer that creates value for their customers and drives sustainable growth for their business. Forrester finds that companies with high levels of alignment across functions including CX, marketing, and digital report 2.4x higher revenue growth and 2x higher growth in profitability than those with either some or no alignment. Featuring immersive experiences, keynote presentations, case studies, and dedicated role-based breakout sessions, CX EMEA 2023 will offer the latest research insights, models, and frameworks to help CX, B2C marketing, and d
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom