Spinal is one of the fastest-growing categories of surgery, with the number of operations taking place annually now approaching 8 million. But their frequency belies the complexity and sometimes less-than-perfect outcomes of these procedures. That’s created a vacuum that technology is mobilizing to fill: Today, a startup called Augmedics that’s built an augmented reality-based navigation platform to improve the process and outcomes of spinal surgeries — using AR to give surgeons “x-ray vision” — is announcing $82.5 million in funding to continue expanding its platform.
The funding, a Series D, is coming from a mix of financial and strategic investors. CPMG out of Texas is leading the round, with Evidity Health Capital coming in as a “syndicate partner,” with previous backers H.I.G. Capital, Revival Healthcare Capital and Almeda Ventures also participating. This latest investment brings the total raised by Augmedics to $148 million and it’s not disclosing valuation.
In the growing field of medtech startups using AR to expand how surgeons can work — and amid direct competitors going bankrupt — Augmedics has had some interesting traction.