Israeli Surgical Visualization Company Augmedics Raises $8.3M

Augmedics, a developer of an augmented-reality (AR) surgical visualization system, has secured $8.3 million in Series A funding. The round was led by AO Invest, which is based in Davos and is fully funded by the non-profit AO Foundation, together with the Israel Innovation Authority, Terra Venture Partners, and other undisclosed investors.

Augmedics says it will use the proceeds to complete research and development as well as pre-clinical and clinical trials of its ViZOR System, establish strategic distribution partnerships, and seek 510(k) clearance for The ViZOR from the US Food and Drug Administration.

According to Technavio, the global market size for surgical navigation systems is estimated to grow to $900 million by 2020, with compounded annual growth rate (CAGR) of seven percent. Augmedics says it intends to disrupt this sizeable market with its ViZOR System, an AR surgical visualization system designed to give surgeons "X-ray vision" during complex procedures.