Robocath, a Rouen, France-based company that designs and develops innovative robotic solutions for the treatment of vascular diseases (heart attacks, strokes, etc.), received an additional €1.7m in funding.
– Crédit Agricole Innovations et Territoires (CAIT), an innovation fund managed by Supernova Invest, which invested €1.25m, and
– Cardio Participation, a holding company bringing together several business angels, which invested €450k.
This contributions supplements the €4.7 million ($5.6M) raised by Robocath in a previous round of fundraising in May.
The company will use the funds to increase the resources available to market the R-OneTM product and launch the development of the next generation of robotics dedicated to the treatment of strokes.
Founded in 2009 by Philippe Bencteux, president, Robocath is advancing R-OneTM, a technology that optimizes and increases the safety of robotic-assisted coronary angioplasty. This medical procedure consists of revascularizing the cardiac muscle by inserting one or more implants (stents) into the arteries that supply it with blood. R-OneTM allows the surgeon to operate with extreme precision and in optimal conditions from a seated position and to use a portable protective screen to guard against X-rays.
This first robotic platform will be marketed in Europe and the Middle East in 2018.
With the funding, the company will also begin researching and developing the next generation of robotic solutions. The new platform will be used to treat neurovascular diseases such as strokes; the second leading cause of death in the world after hearts attacks.
Robocath employs close to 20 staff.