Augmedics Raises $36M in Series C Funding

Augmedics, a Chicago, IL-based provider of an augmented reality surgical image guidance solutions, raised $36m in Series C financing.

H.I.G. Capital, Revival Healthcare Capital, and Almeda Ventures led this financing round, joined by two strategic investors including HCA Healthcare Health Insight Capital, as well as existing investor XR Invest (formally known as AO Invest). With this financing, Bruce Robertson (H.I.G.) and Rick Anderson (Revival) will join the board of Augmedics and Amir Blatt (Almeda) will join as a board observer. This round comes only eight months after the company closed a $21m Series B financing, bringing the total funding to date to $63m.

The company intends to use the funds to continue its commercialization throughout the U.S. and into OUS markets, develop the next generation of products, expand to new indications, and obtain CE certification for sales in Europe.

Led by Nissan Elimelech, CEO and founder, Augmedics is an augmented reality surgical image guidance company that aims to improve healthcare by augmenting surgery. Its FDA-cleared xvision Spine System is an augmented reality guidance system for surgery, which allows surgeons to “see” the patient’s anatomy through skin and tissue as if they have “x-ray vision,” and to accurately navigate instruments and implants during spine procedures.

The system has now launched and is being used in renowned hospitals and surgical centers in the U.S..

Augmedics plans to explore additional surgical applications for xvision beyond spinal surgery.