Robot-assisted dental surgery technology developer Neocis announced today that it completed an oversubscribed financing round worth $40 million.
Miami-based Neocis manufactures Yomi, a computerized robotic navigational system. It provides assistance in the preoperative and intraoperative phases of dental implantation surgery. Yomi provides software for planning procedures and offers robotic navigational guidance for surgical instruments during procedures. The company developed its system for use in partially edentulous and fully edentulous adult patients who qualify for dental implants.
Yomi assists clinicians during all phases of implant placement. Its streamlined digital planning and haptic guidance offer accuracy, efficiency and confidence for clinicians. Its uses often include flapless procedures, a less invasive surgical approach.
An unnamed specialist investor within the dental industry led Neocis’ $40 million funding round. Intuitive Surgical’s independent VC arm, Intuitive Ventures, joined the round. Additional existing partners of Neocis joined, too, bringing the company’s total funding to more than $160 million since its founding in 2009.
“Neocis shares Intuitive Ventures’ commitment to advancing positive patient outcomes in minimally invasive care through innovative technology and solutions,” said Dr. Oliver Keown, managing director at Intuitive Ventures. “We believe Neocis’ deep commitment to addressing customer and patient need through a broadening robotic ecosystem and their impressive technology platform that expands access to high-quality dental care, makes them a transformative force in this rapidly evolving market.”
Use of proceeds
Neocis said its latest funding helps it to advance its mission of “transforming dental surgery through advanced robotics.” It plans to use the funds to accelerate R&D efforts.
The company also intends to bolster its marketing and educational initiatives with the funds. Additional uses include expanding its footprint in sales, clinical support and business optimization.
“For a company in the dental robotics space, I couldn’t dream up a better syndicate of investors than this,” said Alon Mozes, Neocis co-founder and CEO. “This new backing underscores Neocis’ strong position in a growing market and will help us further our product development and commercial efforts.”