Proprio Raises $43M in Series B

Proprio, a surgical technology company, has secured $43 million in Series B funding from new and existing investors. According to the company, the capital will fuel commercialization to address significant demand for the company’s AI-driven surgical navigation platform worldwide.
 
The company’s flagship Paradigm surgical navigation platform obtained FDA 510(k) clearance earlier this year. It uses light field technology and artificial intelligence to create a real-time 3D visualization of surgery. It gives surgeons Volumetric Intelligence, which combines medical images with live data from Paradigm’s sensor suite.
 
Paradigm removes the need for intraoperative scans, reducing radiation exposure to patients and staff. According to the company, this saves up to 30 minutes per procedure.
 
The Paradigm system, according to Proprio, can collect an enormous amount of surgical data to use for development of many applications beyond status quo approaches to surgery.
 
“We are just beginning to reveal the potential applications of Proprio’s technology and data,” Gabriel Jones, CEO and co-founder of Proprio told the press. “This investment arrives at a pivotal moment, as we perform our first-in-human cases and bring Paradigm to patients around the world. Together, these milestones are a testament to the unparalleled capabilities of the Proprio Paradigm and its potential to revolutionize surgery.”
 
“For some time, we have been searching for a company that has the potential to disrupt traditional medical device businesses at scale with data. Proprio represents that kind of opportunity and we are honored to join the investment group,” said Alf Grunwald, Executive Advisor of Bird B. AG, a global investment partnership with significant surgical software and medical device investments in both public and private markets.