Cydar Medical raises £9.3m in Series A funding to expand commercial operations for its surgical mapping platform.
The financing round was led by Pembroke VCT and Downing Healthcare Ventures to support the company in scaling its AI surgical technology.
Cydar Medical is a global cloud-based software company that develops AI surgical mapping solutions for minimally invasive procedures. Its technology aims to improve clinical workflows and assist clinicians during operations.
Cydar Medical has successfully closed a Series A financing round of £9.3m, with backing from Pembroke VCT and Downing Healthcare Ventures. The capital will be directed towards scaling up the commercial deployment of its AI-driven surgical maps and advancing its cloud software platform.
The funding follows strategic industry collaborations and a period of operational progress for the Cambridge-based firm. Andrew Wolfson and Dr Nigel Pitchford have also joined the board as non-executive directors following the transaction.
From the founder
"Cydar Medical is at a key inflection point and we are working to leverage our novel world-class platform and capabilities to rapidly scale our intelligent surgical maps offering through increasing the number of end-users and launching additional value-add capabilities on the platform."
Paul Mussenden
Chief Executive Officer at Cydar Medical
Use of funds
- 01Grow the team
- 02Continue product development
- 03Accelerate go-to-market
Investors
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About the company
Cydar Medical
Cydar Medical provides cloud-based 3D AI surgical mapping software for clinicians.