Mountain View, CA-based robotic surgery firm Moray Medical has closed a seed funding round totaling $5.7 million.
Led by 415 Capital, the round saw participation from Berlin-based Heal Capital and a number of angel investors including the Angel Physicians Fund.
The funding is expected to be used towards continuing the company’s delivery, navigation, and remote user interaction for structural heart surgeries.
“Across the landscape of innovation, creating intuitive control systems and transforming usability, are the critical catalysts to enable widespread technology adoption“, said Dr. Christian Weiss, General Partner of Heal Capital. “The Moray Medical team is gathering the best and brightest minds to pioneer this thinking in the robotic structural heart space.”
Founded in 2015 by robotics pioneers Mark Barrish and Phillip Laby, Moray Medical invented the Coral System, an interventional platform for structural heart disease. Their invention reduces heart surgery complexity through a combination of robotic hardware and software innovation.
The system consists of a robotic snake-like catheter that’s driven by a microfluidic system. Employing 3D augmented reality, the combination allows surgeons to perform precise movements, thus allowing for quick alignment within the heart chambers without disruption to existing surgical workflows.
With an estimated $5.9 billion in 2020, growing at a CAGR of 16.5% the medical robots market is nothing to sneeze at. Moray Medical is staking its claim in this market through the reduction of complexity and ultimately opening up the field to a large patient population that could benefit from these procedures.
“Moray’s unique interventional robotics approach is poised to fundamentally change how interventionalists navigate 3D imaging planes for more controlled and precise delivery of lifesaving structural heart therapies and beyond,” adds Dr. Azin Parhizgar, Board Member at Moray Medical and Venture Partner at 415 CAPITAL.
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