ForSight Robotics, a company developing a robot to assist with ophthalmic surgery, announced it secured $125 million in a Series B funding round led by Eclipse, bringing the company's total raise to $195 million.
Reiya Ventures, Adani Group and other existing investors participated in the round. Dr. Fred Moll, founder of Intuitive Surgical and the da Vinci surgical system, also participated.
ForSight Robotics also said it received significant participation in the round from an unnamed strategic investor.
WHAT IT DOES
The Israel-based company is developing ORYOM Platform, a surgical robot designed to assist with eye surgery, beginning with cataract operations and expanding to other eye diseases.
The company states that the robotic platform utilizes AI algorithms, advanced computer vision and micromechanics to execute delicate tasks with microsurgical instruments.
It also stated that its robotic system can reach any point in the human eye, allowing access to both the anterior and posterior segments. It says this sets the stage for glaucoma and retinal surgical procedures.
ForSight will use the funds to accelerate the growth of its robotic surgery platform and plans to launch its first human clinical trials this year.
"We see ophthalmology as the next frontier in the robotics revolution – much like general surgery was before the rise of Intuitive Surgical. With a comparable market size and an urgent global need, our opportunity ahead is immense," Dr. Joseph Nathan, ForSight Robotics' cofounder, president and chief medical officer, said in a statement.
MARKET SNAPSHOT
Another company working in the robotic space for ophthalmologic surgery is the Dutch company Preceyes Surgical System.
The company received the CE Mark in Europe in 2019 for external membrane peeling, used to assist surgeons with retinal surgery. The robot helps with vitreoretinal surgical tasks in patients who require vitreoretinal intervention under local or general anesthesia.
In 2021, the technology was introduced to the U.S. through a collaboration with the New York Eye and Ear Infirmary of Mount Sinai (NYEE), which ultimately modified the company's robotic surgery technology and successfully utilized it in glaucoma surgery.
