Neocis, the maker of a surgical robot that can assist dentists during implant surgeries, secured $20 million in a funding round led by Mirae Asset Financial Group and NVentures, Nvidia's venture capital arm.
The capital will support the development of the Miami manufacturer's U.S. Food and Drug Administration approved robot, called the Yomi. The device can map out implant procedures for dentists and guide their hands during surgeries to execute the plan. That results in smaller incisions, less pain and faster recoveries for patients, Neocis reports.
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"The latest investment is a testament to our growth as a company and how far dental robotics has come since the first Yomi systems were installed,” said co-founder and CEO Alon Mozes.
Neocis will use the capital to fuel product development and sales, according to a news release.
The company reports the Yomi has assisted in the placement of more than 40,000 implants since 2016. Founded in 2009, Neoci is backed by at least $163 million in investor capital and recently moved into a larger headquarters office in Wynwood.
Replacing missing teeth with an implant is more complicated than it may sound, Mozes previously told the Business Journal. Dental surgeons have to navigate through nerves in the jaw and sinuses when performing the procedure, which can be risky.
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“The accuracy of a surgical robot provides a real clinical benefit," he said. "You know the implant is going to end up in the right place where it won’t do damage to the patient’s anatomy.”
Mozes is among a group of former Mako Surgical leaders and employees who have gone on to form medical robotics ventures in South Florida, cementing the region's status as a leader for medical technology innovation. Davie-based Mako Surgical, the maker of a robotic-assisted arm for joint replacement surgeries, was acquired by Stryker Corp. for $1.65 billion in 2013.
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