Medical Microinstruments Raises an Impressive Amount of $110 Million

Medical Microinstruments – MMI – announced the closing of its $110 million Series C round. The Italian-American startup, which had closed another round of $75 million in 2022, specializes in robotic microsurgery.

The 2022 operation was led by the company Deerfield Management with the participation of new investors RA Capital Management and Biostar Capital, as well as investors who had already financed the growth of MMI, from Andera Partners to Fountain Healthcare Partners, from Sambatech Italian Angel Investor to Panakès Partners, the Italian Venture Capital fund focused on Life Science. Medical Microinstruments (MMI) also announced the addition of three new members to its board of directors.

The current investment was led by Fidelity Management & Research Company. The scaleup is in the portfolio of Panakès Partner, a venture capital company.

“Amid declining investment in medical robotics, this support strengthens our confidence in a new, less invasive solution for open surgery, a significant market that can benefit from smaller wrist-worn microinstruments,” said Mark Toland, CEO Tell me.

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What does Medical Microinstruments do?

Founded in Pisa in 2015, Medical Microinstruments has developed the first robotic platform for microsuturing in open surgery with wrist-worn microinstruments. The solution offers the surgeon motion scaling and tremor reduction with the goal of facilitating existing procedures and enabling new applications in the field of microsurgery. The company expects the market for robotic microsurgical procedures to grow from 3 million to 22 million annually by 2028.

Thanks to its technology, surgeons will be able to perform anastomoses in very small vessels and nerves, with applications in post-oncology (lymphedema), trauma reconstruction, ophthalmology, organ transplantation and pediatric surgery. According to the scaleup itself , the $110 million Series C round represents the largest ever closed in the microsurgery sector.

The new funds raised by Medical Microinstruments will support the commercialization of the Symanini surgical system. They will also serve to accelerate advanced technological capabilities and enable MMI to scale its operational capabilities globally. Overall the company has raised over $200 million.

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(Featured image by geralt via Pixabay)

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First published in StartupItalia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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