MediView XR Secures $4.5M Series A Funding to Advance AR Surgical Navigation Platform

VCBeat (WeChat ID: vcbeat) has learned that on October 21, 2019, medical startup MediView XR announced the completion of a $4.5 million Series A financing round. The round was led by InsideView, with participation from Plug and Play and Northwest Ohio Tech Fund II.

It is reported that the funds will continue to be used for the development of AR medical solutions, as well as medical solutions similar to 3D X-rays. This solution is mainly applied in surgical navigation, accurately presenting the real-time position of medical instruments inside the body through AR technology, thereby assisting oncologists in making positional judgments during tumor surgeries.

According to foreign media, the seed funding came from InsideView of the Northwest Ohio Venture Group in Findlay, Ohio. Other investors include Plug and Play and the Northwest Ohio Tech Fund II. The funds will be used to further develop the system, which is expected to receive approval from the U.S. Food and Drug Administration (FDA) in 2021.

MediView XR is an emerging medical device company founded in San Francisco, USA, in 2017. MediView XR leverages AR and spatial computing technologies to provide surgeons with advanced visualization capabilities through surgical navigation systems. Currently, this technology is patented and focuses on tumor ablation and biopsy.

John Black, CEO of MediView XR, stated, “What we are doing is creating a method to target tumors using AR technology in an unprecedented way.” “It is like using an AR-based GPS to navigate to a specific point within the human body. You may have heard negative sentiments about AR, but we are the only company utilizing it for true surgical navigation, which requires simultaneous tracking of the patient, holograms, and instruments.”

InsideView, founded in 2005, is a private equity investment firm based in San Francisco, USA. The company has emerged as a leader in today’s intelligent customer relationship management market. InsideView’s Targeting Intelligence platform, built on artificial intelligence (AI), delivers the industry’s most relevant and reliable data and is trusted by leading B2B companies worldwide.

Plug and Play is a seed and early-stage investor focused on leading exceptional teams at emerging growth companies. Plug and Play runs 12 industry-specific accelerator programs twice a year, serving as a platform for connection and collaboration between established corporations and high-quality startups.

Northwest Ohio Tech Fund II is an investment firm active in the U.S. Midwest, based in northwestern Ohio, with a preference for seed-stage investments in healthcare startups.

(Compiled by Xiong Hui)