Medical Microinstruments (MMI), an Italian medtech company developing robotics that can be used in intricate surgeries, has signed a financing agreement with the European Investment Bank (EIB) granting access to up to €15 million. The loan, which will be deployed over the next few years, is backed by a guarantee from the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe.
Founded in 2015 near Pisa, the team set out to enhance surgical performance through the development of a robotic system that enables surgeons to achieve better outcomes on delicate microsurgical procedures. Such surgeries include reconstruction after traumatic injuries as well as after tumor removal in breast, head and bones. The MMI system includes a robotics platform as well as wristed microinstruments, which are basically robotic tools that have a wrist-like joint movement.
The startup previously raised a €20 million Series A round led by Andera Partners in 2018.