Mendaera will earn $73 million to complete work on the handheld robotic device

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Mendaera Inc. announced yesterday that it has closed a $73 million Series B financing round. The company said the funding will enable further efforts to scale robotics and artificial intelligence “across mainstream medical procedures” using its handheld robotic intervention platform.

Rising costs and provider shortages are making it harder for the health care industry to maintain quality of care, noted Volhe company based in San Mateo, California. Common but critical procedures such as biopsies, organ and vascular access, and pain management interventions were cited. He described it as a “dirty middle ground” where demand is high but skills are hard to obtain, resulting in high costs and care bottlenecks.

While other industries have addressed similar skills shortages by implementing automation to improve quality and productivity, healthcare robots are largely limited to high-end, individually focused medical offices, Mendaera said. The company said it is taking a different approach by creating technologies that are easily accessible for these basic, everyday procedures.

“Traditional surgical robots have made their home in the operating room,” said Josh DeFonzo, founder and CEO. “However, robotics and artificial intelligence have evolved to the point where we can deliver broader benefits across all parts of the health care system and provide higher standards of care to more patients.”

By better distributing care across such procedures, Mendaera says it aims to improve service to hundreds of millions of patients annually and increase the efficiency of the overall system.

Mendaera expands capabilities through acquisitions

Mendaera says its system includes robotics, artificial intelligence, real-time imaging and virtual connectivity. It is designed to be available across specialties and service settings to help healthcare providers meet the growing demand for needle-based interventions.

The company stated that it will use its latest version financing to complete the development of robotic technology, accelerate work on artificial intelligence and connectivity, and begin clinical implementation of the platform. While it’s not yet clear what capabilities the handheld intervention platform will have, Mendaera’s recent acquisitions provide some clues.

Earlier this year, Mendaera announced that it had acquired telepresence technology from Avail Medsystems to add virtual connectivity to its portfolio. In 2023, the company signed a commercial agreement with the bedside ultrasound company Butterfly Network.

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Funds to help address health care staffing shortages

Threshold Ventures led the financing round. Lux Capital, PFM Health Sciences and Fred Moll, founder of Intuitive Surgical and Auris Health, also participated in the round.

“Mendaera has a unique ability to improve patient experiences and make high-quality care universally available,” said Emily Melton, founder and managing partner at Threshold Ventures.

“With rising health care costs and workforce shortages impacting quality and affordability, it is imperative to leverage advanced technology to revolutionize health care delivery,” she said. “We are excited to join forces with Mendaera’s dynamic team of the most innovative and talented leaders in robotics and medical software.”

“We believe our technology will enable health systems and providers to deliver medical procedures at scale, improving patient experiences, increasing access to high-quality care, reducing overall costs and improving provider satisfaction,” DeFonzo said.