Proprio secures $43m in Series B funding

Proprio, a surgical technology company, has secured $43 million in Series B funding from new and existing investors. The capital fuels commercialisation to address significant demand for Proprio’s AI-driven surgical navigation platform in the US and overseas. 

Proprio's flagship surgical navigation platform, Paradigm, achieved 510(k) clearance from the U.S. Food and Drug Administration (FDA) this year. Paradigm harnesses the power of light field technology and artificial intelligence to generate a real-time 3D visualisation of surgery. Paradigm provides surgeons with Volumetric Intelligence, which combines medical images with live data from Paradigm’s sensor suite.

The Paradigm system eliminates the need for intraoperative scans, reducing radiation exposure to the patient and surgical staff. This saves up to 30 minutes per procedure, increasing the availability of care to patients.

Proprio’s live, 3D, multi-modal data represents an upgrade over current static approaches to surgical navigation and the company plans to apply its technology to many surgical specialties beyond its first targets in spine procedures. Proprio’s Paradigm system can collect a lot of surgical data that can be used for the development of many applications beyond status quo approaches to surgery.

Gabriel Jones, CEO and co-founder of Proprio, said: “We are just beginning to reveal the potential applications of Proprio’s technology and data. This investment arrives at a pivotal moment, as we perform our first-in-human cases and bring Paradigm to patients around the world. Together, these milestones are a testament to the unparalleled capabilities of the Proprio Paradigm and its potential to revolutionise surgery.”

“For some time, we have been searching for a company that has the potential to disrupt traditional medical device businesses at scale with data. Proprio represents that kind of opportunity and we are honored to join the investment group,” added Alf Grunwald, executive advisor of Bird B. AG, a global investment partnership with significant surgical software and medical device investments in both public and private markets.