Paris-based, Ganymed Robotics picks €15 million in an expanded Series B round of funding

Paris-based Ganymed Robotics has received €15M in an expanded Series B round of funding. Ganymed Robotics is a developer of robotics and computer vision tools for orthopedic surgeons.

Through its Accelerator Program and Cap Horn, the Fund of the European Innovation Council invested €14 million. Bpifrance, the national investment bank of France, also provided a loan of €1 million.

The most recent round increases the Series B fundraising to a total of €36M. The announcement comes seven months after Cathay Health led a €21 million Series B financing in July 2022.

The French business will use the cash to expand its product pipeline, speed up regulatory and market access efforts, and develop Ganymed Robotics’ surgical robotic assistant for knee arthroplasty (TKA).

“Welcoming such highly valuable investors just a few months after a Series B first close that was oversubscribed puts us in an incredibly strong position despite a global start-up financing constraint. Our patented, special technology will soon be available on the market and set new standards for joint replacement care, according to Sophie Cahen, CEO and co-founder of Ganymed Robotics.

Ganymed Robotics, a company founded in 2018 by Sophie Cahen, is creating the newest robotic support technologies for orthopedic surgery.

For its target indications, the company seeks to enhance surgeon experience, patient outcomes, and overall care delivery efficiency.

A co-manipulated surgical robotic aid for total knee arthroplasty is Ganymed Robotics’ first application (TKA). The company claims that this is the first small, user-friendly robot that has been fully incorporated into the workflow, simplifying and improving orthopedics.

In the next months, the company intends to use its technology to treat more orthopedic indications.

Additionally, Ganymed Robotics has created a robot-with-eyes platform that improves surgeons’ capacity to look beyond the scope of the human eye and carry out the “ideal” motion.

A variety of multimodal sensors are integrated into the company’s specially created co-manipulated arm to let it observe and understand the surgical scene in a useful way.

“Robotic aid, with image guidance and clinical decision tools, will be essential for advancing surgical techniques and, more importantly, for providing high-quality care to all people, everywhere, in the face of a global lack of medical professionals and staff. According to Michel Therin, DVM, Ph.D., Chairman of Ganymed Robotics’ Board, “Ganymed Robotics is ideally positioned to triumph on both aspects in the field of joint replacement thanks to its intuitive technology and highly competent team.

The European Commission’s (EC) European Innovation Council (EIC) Fund is a non-specific fund. It makes investments in all technologies, industries, and Horizon Europe and EU member countries.

A VC company with a presence in Paris called Cap Horn invests in cutting-edge businesses all over Europe with an emphasis on enterprise software, sustainability, and health tech.

Image Credit: Ganymed Robotics