Name of Company: Medrobotics Corp.
Industry: Medical devices
Location: Raynham, Massachusetts
Solution/Product: Flexible medical robots that allow “single-site access and visualization to difficult to reach anatomy.”
Money Raised: $8.1 million; seeking another $11.9 million through a convertible note offering; money raised, excluding this round is $28.3 million in preferred equity financing
How it will be used: Unknown, president and CEO did not return a call.
Investors: Pittsburgh Life Sciences Greenhouse, angel investors
Management team: Samuel Straface, President & CEO; Mark Peters, CFO and Treasurer;
Market size: The company aims to pursue several markets -minimally invasive cardiac surgery, electrophysiology, natural orifice and a range of single-port laparoscopic and thoracoscopic procedures – and the market size is unknown.
Competitors: Hansen Medical also makes medical flexible robots.