A pioneering firm lowers adoption hurdles for guided and robotic joint replacement through revolutionary radar surgical tracking technology and small footprint, cost-effective surgical solutions.
FREMONT, CA: "We're thrilled to achieve this funding milestone in partnership with our industry-savvy investors," states Jon Greenwald, Co-Founder & CEO of Caira Surgical. Caira Surgical adds $5 million in seed money through a highly subscribed series seed transaction that concluded last month. Caira's investor syndicate consists of high-net-worth venture capitalists and key MedTech investors. With more than 20 years, the strategic Medtech leader Greenwald further adds, "the series seed funding enables Caira to continue developing our breakthrough technology and positively impact orthopedic surgery and patient welfare. Additionally, the composition, commitment, and enthusiasm of our investor syndicate ensure that Caira will have continued access to the funding and resources necessary to realize our technology vision and meet our commercial objectives."
Caira's patented technology transforms orthopedic surgery's usability, safety, and accessibility of modern surgical navigation and robotics. The company's initial offering is a ground-breaking submillimeter-accurate radar tracking technology for knee replacement surgery. The technology makes use of modern radar technologies to overcome line-of-sight interference and eliminates the need for invasive surgical gear and high-cost, large-footprint capital equipment that are often associated with surgical tracking systems.
OUS Strategic and other MedTech investment funds are among the series seed investors. These include Mountain State Capital, based in the United States; Snowboat BV, based in Amsterdam and launched by the creators of Avania Clinical (formerly Factory-CRO); and Haventure, situated in Grenoble, France, founded by Stephane Lavallee, Ph.D. Dr. Lavallee is also the founder of eCentenial, a surgical robotics startup. Dr. Lavallee previously developed Orthotaxy, a surgical technology business bought by Johnson & Johnson Medical Devices Companies in 2018 via its French partner Apsis S.A.S.
Caira has already raised funds through a pre-seed Friends & Family round that closed in 2020. Additionally, the company was awarded a $256,000 National Science Foundation Small Business Technology Transfer Grant to research and development on new radar-based navigation and robotics for orthopedic surgery.
Caira was one of only 25 startups selected for the MedTech Innovator Accelerator in 2021 and was named a Top 5 Finalist for the MedTech Innovator Execution Award. Additionally, the company was granted a residency at Johnson & Johnson Innovation’s JLABS @ NYC in lower Manhattan.
Caira's sizable potential market for guided and robotic joint replacement technologies was $5.1 billion in 2019 and is expected to exceed $13 billion by 2030.
Caira is developing its groundbreaking breakthroughs as a platform technology for hip and shoulder replacement surgery and spinal applications.