Proprio Raises $43 Million From Investors in Series B Round, Aims to Bolster Commercialization of 3D Surgical Navigation System

(MT Newswires) -- Proprio on Friday said it has raised $43 million in Series B funding, landing the capital after the startup this year received regulatory clearance to expand the use of its flagship surgical visualization platform.

The Seattle-based company in a statement said the funding from new and existing investors will bolster commercialization efforts for its Paradigm AI-driven surgical system in the US and internationally. The Paradigm platform is the first to use light field technology in spine surgery navigation to create for surgeons a 3D, real-time view of patients during operations, it said.

"While Paradigm has been designed for use in spinal surgery navigation, it has the potential to be utilized beyond its current application," a Proprio spokeswoman said in an email Friday, responding to a request for comment from MT Newswires. "Beyond its use in spinal procedures, other verticals Proprio intends to expand indications to are cranial and ortho."

In April, the Food and Drug Administration granted 501(k) clearance to Paradigm, with the company demonstrating the system was safe and effective.

"This investment arrives at a pivotal moment, as we perform our first-in-human cases and bring Paradigm to patients around the world," Gabriel Jones, CEO and co-founder of Proprio, said in the statement. "Together, these milestones are a testament to the unparalleled capabilities of the Proprio Paradigm and its potential to revolutionize surgery."

Bird B. AG, a medical technology investor, said in the statement it joined the group investing in Proprio.

"For some time, we have been searching for a company that has the potential to disrupt traditional medical device businesses at scale with data," said Alf Grunwald, executive advisor of Bird B. AG. The firm did not disclose its investment amount in Proprio.

The startup's technology has been capturing anatomical data in select operating rooms to further its development. The system reduces radiation exposure to patients and surgical staff by ending the need for intraoperative scans, Proprio said in the statement.

Paradigm "creates a detailed representation of the surgical process, which can be useful for reviewing any complications that arose during surgery and for training purposes," the company said in its email to MT Newswires.

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