MMI Revolutionizes Microsurgery with $110 Million Series C Financing

February 23, 2024, 7:27 am
Location: Italy
Founded date: 2015
Total raised: $127.65M
MMI, a trailblazer in microsurgery robotics, secures a record-breaking $110 million in Series C financing to propel its mission of transforming open surgery with cutting-edge robotic technology. Led by Fidelity Management & Research Company, this investment marks a significant milestone in the realm of microsurgery innovation.

The funds will fuel the commercialization of the Symani Surgical System in burgeoning markets and drive further investment in studies that generate crucial clinical evidence and enable expansion of indications. Additionally, the investments will bolster advanced technology capabilities and empower MMI to enhance its operational reach on a global scale.

MMI, alongside its dedicated investors who all participated in the Series C financing, envisions substantial growth opportunities on the horizon. Projections indicate that the market for eligible robotic microsurgical procedures is set to skyrocket from 3 million to 22 million annually by 2028, fueled by technological advancements and expanded indications.

CEO Mark Toland emphasizes the significance of this support in a landscape where investments in medical robotics have stagnated. He highlights the potential of the Symani Surgical System as a less invasive solution for open surgery, leveraging the power of the smallest wristed microinstruments to broaden patient access to care and empower surgeons to perform intricate procedures with ease.

The Symani Surgical System stands out as a groundbreaking robotic technology tailored to the intricacies of microsurgery and supermicrosurgery. By enabling surgeons to replicate the natural movements of the human hand at a micro scale, it opens up new treatment avenues for patients requiring soft tissue, open surgical procedures like free flap reconstructions, lymphatic surgery, and trauma replantations. Its design aims to enhance quality of life for a wider patient population, empower more surgeons to push the boundaries of complex procedures, and facilitate the expansion of open surgical programs in hospitals.

Having amassed over $200 million in funding to date, MMI's momentum continues to surge. The closure of a Series B financing round in 2022 propelled growth initiatives, focusing on expanding indications, supporting ongoing commercialization efforts in Europe, accelerating plans for commercialization in the U.S. and Asia-Pacific, and advancing clinical research.

MMI's relentless pursuit of innovation and commitment to revolutionizing microsurgery underscore its position as a frontrunner in the field. The infusion of $110 million in Series C financing serves as a testament to the confidence of investors in the transformative potential of the Symani Surgical System and MMI's vision to reshape the landscape of open surgery with robotic precision.