Proprio, the surgical navigation company ‘creating the most transformative technology in surgery since the X-ray’, has landed $23 million in series A funding
➨ New investors include DCVC
➨ The funding will be used to increase headcount, accelerate timelines and secure first installations
➨ DCVC’s investment has gained it a seat on the Proprio board
Proprio will use $23 million in series A funding to deliver its surgical navigation system and make it easier to perform high-quality surgeries.
The funding, from DCVC (Data Collective), Cota Capital, BOLD Capital Partners and East Seattle Partners and Frazier Healthcare Partners founder Alan Frazier, will be used to expand Proprio’s development teams, accelerate clinical and regulatory timelines, build commercialisation capabilities, and install the first Proprio systems in hospital and medical institutions.
The Proprio surgical navigation system uses proprietary imaging techniques, MR environments, AI and robotics to simplify workflow, improve procedural accuracy, and reduce or eliminate exposure to radiation.
The Proprio platform also creates new data sets to improve clinical capability over the long term.
Commenting on the investment, Gabriel Jones, chief executive officer and co-founder of US-based Proprio, said: “Proprio’s mission is to improve the precision and efficiency of surgery. This investment supports our world-class team to deliver a surgical navigation system that leverages the latest technological advancements in imaging and machine learning, making it easier to perform high-quality surgeries.”
Following its investment, DCVC is gaining a seat on the Proprio board, which will be filled by partner Armen Vidian, who has operational experience in healthcare and medical devices.
Alan Cohen, a DCVC partner with expertise in product development and go-to-market strategy for multiple billion-dollar companies, will serve as a board observer.
Other investor and external board members include BOLD Capital Partners, Sway Ventures, and Dr Alan Levy, former chief executive officer and chairman of the board at Northstar Neuroscience and Chronos Therapeutics.
“DCVC has invested in Gabriel and his tremendous team, which includes proven leaders in artificial intelligence, computer vision, medical devices, and clinical medicine, because we believe they are uniquely qualified to execute on this ambitious goal.”Armen Vidian, DCVC
Vidian believes Proprio “is creating the most transformative technology in surgery since the X-ray”.
Vidian continued: “DCVC has invested in Gabriel and his tremendous team, which includes proven leaders in artificial intelligence, computer vision, medical devices, and clinical medicine, because we believe they are uniquely qualified to execute on this ambitious goal.”
Proprio’s new investment follows the additions of Tony Titus, Amish Patel, and Shannon Eubanks, executives with expertise in commercialisation, product development, regulatory affairs and operations, to its leadership team.
Its technical advisers include Microsoft Healthcare general manager Desney Tan, computer vision pioneer Dr Takeo Kanada, and Dr Joshua Smith, a University of Washington professor whose research team developed the early computational imaging technology at the heart of Proprio’s surgical navigational system.