Israeli ophthalmic robotic surgery ForSight Robotics today announced the completion of a $55 million Series A financing round led by India's Adani Group. Existing investors Eclipse Ventures and Mithril Capital and new investors, including Provenio Capital, Precision Capital, Reiya Ventures, the Ljungstrom family office, and other prominent private investors also joined the round. The company raised $10 million in a seed round last year.
The funding will advance the company's surgical platform for fully robotic cataract surgery: ORYOM. ForSight’s flagship robotic platform will increase accessibility to ophthalmic surgery procedures worldwide and ultimately transform the future of eye surgery. The ORYOM platform has already been used successfully in multiple cataract procedures on an animal eye model by a number of ophthalmic surgeons.
ORYOM - which means "daylight" in Hebrew - leverages technologies in microsurgical robotics, computer visualization, and machine learning. The platform will automate the complex subtleties of ophthalmic surgery to treat the diseases underlying preventable blindness with an intuitive platform. It will raise the bar for high quality procedures with submillimeter accuracy - 10 times more accurate than the human hand - delivering consistency, for extremely safe surgeries with optimal refractive outcomes.
ForSight cofounder and CEO Dr. Daniel Glozman said, "We are pleased to be able to advance our technology with this investment to bring robotics into the world of ophthalmic surgery to help millions of patients who have to wait unnecessarily for procedures while their eyesight deteriorates. Our goal is to democratize this highly sophisticated procedure, enabling patients around the world to easily access the treatment that can restore their vision."
ForSight cofounder and chief business officer Dr. Joseph Nathan added, "With the advancement of computing power, AI, and miniature mechanics, better access to healthcare will be made possible. Our goal is to work with industries across different geographies in order to benefit as many vision-impaired patients as possible."
In addition to earlier financing, ForSight has been awarded several grants from the Israel Innovation Authority.
Published by Globes, Israel business news - en.globes.co.il - on July 18 2022.
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