AI

Augmedics announces $82.5M funding round for AR spine surgery

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July 18, 2023

Augmedics, a firm specializing in augmented reality technology for surgical use cases, has announced that it has raised $82.5 million in its latest Series D financing round, according to a press release.

Investors included CPMG, which led the round, along with Evidity Health Capital as syndicate partner and participants H.I.G. Capital, Revival Healthcare Capital, Almeda Ventures, and others.

The announcement came the same week as Augmedics announced its 4,000th patient treated with the Augmedics xvision Spine System, the first FDA-approved AR navigation system for spinal surgery (approved in 2019).

The system superimposes critical patient in the field of view during surgery, removing the need for surgeons to look at a screen during procedures.

2023 platform expansions include the March launch of an AI-powered application.

"To close an $82.5M round in the current fundraising environment is a testament to the dramatic impact Augmedics is making on the field of spine surgery," Kevin Hykes, president and CEO at Augmedics, said in the release. "The accomplishment is underscored by the tremendous achievement of 4,000 patient lives impacted.

"We are pleased to secure the resources to continue leading the market in the adoption of augmented reality spine surgery," Hykes added.