Baird Capital co-led a $46 million Series C funding round in Virtual Incision Corp., a medical device company making miniaturized robots for laparoscopic surgery.
Virtual Incision is based in Lincoln, Nebraska. Baird Capital is the venture capital and private equity arm of Milwaukee-based Robert W. Baird & Co. Baird led the round alongside Endeavour Vision, a private equity firm based in Geneva, Switzerland.
Virtual Incision will use the money to support the regulatory and clinical programs needed to commercialize its product, which it calls a miniaturized in vivo robotic assistant (MIRA) surgical platform, according to a Nov. 30 announcement.
“MIRA is a space-saving solution designed to help hospitals and ambulatory surgery centers leverage their existing infrastructure to perform surgery efficiently while offering a low total cost of ownership,” Baird Capital principal Amy Len Kobe said in a statement. “Consistent with our venture team’s investment goals, the MIRA platform has the ability to improve care for patients, physicians, providers and payors."
In August, Virtual Incision announced that the first-ever surgery performed using the MIRA surgical platform was conducted at Bryan Medical Center in Lincoln. It was part of a clinical study that's being conducted under an Investigational Device Exemption from the U.S. Food and Drug Administration.
"Virtual Incision’s goal is to transform surgery by providing a practical and hassle-free platform that will enable efficient, effective and affordable access to robotic-assisted technology, regardless of the site of care," Virtual Incision president and CEO John Murphy said in a statement.
Virtual Incision announced its $18 million Series B round in 2017, which was led by Shanghai, China-based Sinopharm Capital and Sioux Falls, South Dakota's Bluestem Capital Co., which also invested in the Series C round.
