Surgical robotics company Neocis has announced that the company has raised US$20mil in additional funding. This latest round of financing included Mirae Asset Capital/Mirae Asset Venture Investment, venture capital firms affiliated with the Mirae Asset Financial Group that invest in growth-stage healthcare and technology businesses, and NVentures, NVIDIA’s venture capital arm.
Headquartered in Miami, US, Neocis manufactures and markets Yomi, is what is said to be dentistry’s first and only robotic surgical system cleared by the U.S. Food and Drug Administration (FDA). The Yomi platform, which has received a total of 16 FDA 510(k) clearances, assists clinicians during all phases of implant placement via streamlined digital planning and haptic guidance of surgical instrumentation, so users can deliver precise and efficient treatment. According to the company, more than 40,000 implants have been placed with robotic assistance. A dental implant is placed with Yomi approximately every six minutes.
“The latest investment is a testament to our growth as a company and how far dental robotics has come since the first Yomi systems were installed,” said Alon Mozes, Neocis’ co-founder and CEO. “We are tremendously grateful to have the backing of our newest investors, including NVentures and Mirae Asset Financial Group, as well as our existing partners. This funding positions us for continued success in the market and will help us drive meaningful innovation in implant dentistry.”
Neocis will use these additional funds to bolster a wide range of business initiatives from product development and sales enablement to clinical education. To keep pace with the company’s steady growth, Neocis moved into a larger space last summer. The new headquarters, which houses a state-of-the-art manufacturing facility, is located in Miami’s Wynwood neighborhood.
“Neocis is bringing needed innovation to dentistry, and we couldn’t be more excited to support them in that mission,” said Mirae Asset Capital’s investment manager, Soojung Kim. “We look forward to working alongside the Neocis team to help them excel in a rapidly growing market and get Yomi in the hands of more providers.”
“Robotics and AI are changing the face of dentistry, enabling innovations that increase doctor efficiency and help them improve the quality of life for their patients,” said Mohamed “Sid” Siddeek, corporate vice president and head of NVentures. “Neocis is transforming dental implant procedures, demonstrating the benefits of robotics and AI in healthcare.”
Related: Neocis secures US$40m in additional funding to continue transforming dental surgery with robotics
