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Heath Meyer

heath@teamseismic.com

858-768-1527

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Financing fuels global commercialization of ActivInsights Augmented Reality Software Suite to enhance patient safety

Cota Capital Founder Bobby Yazdani appointed to Board of Directors

BOSTON – September 30, 2021 — Activ Surgical™, a digital surgery pioneer, today announced that it has raised $45 million in a Series B financing round. The Series B round was led by Cota Capital, a multi-stage investment firm focused on private and public modern enterprise technology companies. Seven new investors, including BAM Funds, Magnetar Capital, MINT Venture Partners, Castor Ventures, Dream One Vision and NVIDIA, join existing investors DNS Capital, Tao Capital Partners, LRVHealth, Rising Tide VC, GreatPoint Ventures (GPV) and ARTIS Ventures to close out the Series B round of financing. To date, Activ Surgical has raised a total of $77 million.

Activ Surgical is building a hardware-agnostic platform, including the recently announced ActivInsights™ augmented reality (AR)-based software suite, to enable autonomous and collaborative surgery through the integration of computer vision, artificial intelligence (AI), machine learning (ML), AR and robotics. The company will use this Series B financing round to support the commercial availability of the ActivInsights software suite, including the first Insight—an AR-based overlay that displays tissue perfusion in real time without the use of traditional dyes. Activ Surgical will also use the funds to support commercialization in the U.S., pursue a CE mark in support of the global rollout and further enhance the ActivInsights software platform and to develop its first ML-based insights. 

In conjunction with this fundraise, the Activ Surgical Board of Directors will expand to include Bobby Yazdani, founder and partner from Cota Capital. Yazdani has more than three decades of entrepreneurial experience, including 20+ years of investing in technology companies, in Silicon Valley and formed Cota Capital in 2014. Yazdani will serve on Activ Surgical’s Board of Directors alongside current board members Ameena El-Bibany, ARTIS Ventures; Will Cowen, LRVHealth; Emily Casey, DNS Capital; Ashok Krishnamurthi, Great Point Ventures; Paul Meister, Independent Board Member; Dr. Peter Kim, Activ Surgical; and Todd Usen, Activ Surgical.

“Activ Surgical is on pace to solve the ‘last mile’ challenge for the surgical field and revolutionize the operating room as we know it,” said Yazdani. “The company’s cutting-edge product portfolio, coupled with its talented and experienced leadership team and staff, has the potential to deliver world class surgery, regardless of geography or economic status, while helping to save lives and reduce medical complications. We are thrilled to be the lead investor on this Series B fundraise and are excited about what the future holds for the company and its technology.” 

“2021 continues to be a critical year for Activ Surgical as we are laser focused on democratizing surgical care at the global level,” said Todd Usen, CEO, Activ Surgical. “We received FDA clearance for our ActivSight enhanced visualization module that will power the ActivInsights software suite, and were issued our first U.S. patent for ActivSight, as well as completed our first in-human clinical trials and have grown our team by 35 percent. The addition of seven new investors spanning the medical and technology industries is a wonderful testament to our team’s vision and work to-date. We are thrilled to be supported by this diverse group of investors, and we welcome Bobby to our Board as we look to make our ActivInsights software suite commercially available in 2022.” 

​​“Activ Surgical is on a mission to empower surgeons with the critical information they need,” said Renee Yao, Global Healthcare AI Startups Lead at NVIDIA. “Their team is fusing together technologies to enable real-time intelligence and visualization for the operating room of the future.”

For more information about Activ Surgical, its product portfolio, leadership team and Board of Directors, please visit www.activsurgical.com.

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About Activ Surgical  ‍
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Activ Surgical is the pioneering digital surgery company that completed the world’s first autonomous robotic surgery of soft tissue in 2018. The company is revolutionizing surgical vision, enabling a future of augmented reality-based and artificial intelligence-driven surgery that is safe, smart, and accessible to all. Its patent-protected surgical software platform—ActiveEdge™–is being designed to reduce unintended and preventable surgical errors by enhancing a surgeon’s intraoperative decision making via the aggregation of surgical data from around the world. Activ Surgical is privately held, and backed by DNS Capital, GreatPoint Ventures (GPV), Artis Ventures, Tao Capital Partners, LRVHealth, Rising Tide VC, SONY Innovation Fund and 8VC. Learn more at www.activsurgical.com.

New technology-as-a-service (TaaS) bundle, combining the ActivSight delivery system with the ActivInsights software suite, enables the first intra operative augmented reality application to deformable soft tissue

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BOSTON – June 11, 2021— ActivSurgical™, a digital surgery pioneer, today announced the introduction of ActivInsights™ software suite, a proprietary augmented reality (AR)-based bundle that offers real time tissue assessment in the form of previously unavailable visual overlays. The new software suite, along with the company’s interoperable imaging module, ActivSight™, are the first commercially-available products of the ActivEdge™ platform, which is being designed to transform massive amounts of data gathered intra-operatively to provide surgeons real-time guidance in the operating room.

The ability to detect blood flow is critical in most surgical procedures today. Currently, surgeons need to depend on their skill and training to make a decision or acquire expensive surgical visualization towers and inject a dye into the patient in order to see blood flow or determine if tissue is viable. The first offering from the ActivInsights software suite that will be made available to surgeons is thePerfusion View Insight, which will provide the ability to see blood flow and perfusion in real time, without the use of traditional dyes. The Perfusion ViewInsight will allow surgeons to visualize blood flow in real-time without the injection of dye for procedures, including anastomosis in colorectal cases.

The ActivInsights augmented reality software suite will be underpinned by the industry’s largest annotated data set to be developed by the company over the next 12 months. Currently, ActivInsights’ Perfusion View Insights visual overlays are derived from proprietary sensing technologies. Its Perfusion View Insights will be based on mulit-spectral imaging, with the goal of integrating artificial intelligence (AI) and machine learning (ML) capabilities in the future as more annotated data is collected and processed through Activ Surgical’s platform.

“I founded Activ Surgical in 2017 with the goal of democratizing surgical care by extending insights from leading surgeons to all surgical systems, regardless of location,” said Dr. Peter Kim, founder and Chief Science and Medical Officer, Activ Surgical. “Bringing our ActivInsights offerings to market is a significant step in realizing this goal as it will provide meaningful visual data that was previously unavailable in the OR to surgeons all across the globe.”

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A new NVIDIA Inception member, ActivSurgical is supported by NVIDIA for go-to-market activities, technology expertise

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Today, in conjunction with the first day of NVIDIA’s GTC21 conference, the team at Activ Surgical is thrilled to announce our acceptance into NVIDIA Inception–an acceleration platform forAI, data science, and HPC startups. It’s an exciting time in Activ Surgical’s history as we prepare for the commercialization of ActivSight–our proprietary hardware imaging module that just received FDA 510(k) clearance last week and willpower our next product, ActivInsight. Our participation in NVIDIA Inception will help accelerate our go-to-market strategy, while providing us access toNVIDIA’s technology and expertise, including NVIDIA’s Deep Learning Institute and preferred pricing on hardware.

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Activ Surgical is bridging the best ofthe medtech industry with leaders in the technology sector, and our membership in Inception is another milestone in our ongoing collaborative efforts withNVIDIA. We are proud to be using NVIDIA’s industry-leading GPUs in our current light engine. Now, we are working together on enhancing the delivery ofadditional surgical insights and data by leveraging the NVIDIAClara AGX developer kit, which will allow for enterprise-class GPU compute and real-time AI and imaging in medical devices.The developer kit will also reduce the overall development time to bring future Activ Surgical products, including ActivSight, to market in the next two years.

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The future is bright for Activ Surgical thanks to the support we will receive via NVIDIA Inception. Not only will we have access to the company’s industry-leading technologies through the ClaraAGX developer kit, but we will also be leaning on its expertise in AI and other emerging technologies as we march down the path to global commercialization of our products and platform. We are grateful for the collaboration with NVIDIA and are glad to have their support in fulfilling our mission to prevent medical errors and accidental deaths in the operating room

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To learn more about the Clara AGX developer kit, please visit https://developer.nvidia.com/clara-agx-devkit.

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For more information on GTC, please visit https://www.nvidia.com/en-us/gtc

Activ Surgical™, a digital surgery pioneer, today announced the U.S. Food and Drug Administration (FDA) 510(k) clearance of the company’s ActivSight™ Intraoperative Imaging Module for enhanced surgical visualization. The hardware agnostic imaging module has been designed to provide surgeons real-time intraoperative visual data and imaging not currently available to surgeons through existing technologies, helping to improve patient outcomes and safety in the operating room.

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“Receiving FDA 510(k) clearance for our ActivSight enhanced visualization module is a significant milestone in bringing Activ Surgical’s technology to operating rooms around the world,” said Todd Usen, CEO of Activ Surgical. “Given there is a $36 billion cost for preventable surgical errors, we believe ActivSight has the potential to make an immediate impact in the OR. We look forward to working closely with our initial pilot customers over the next several months to further validate ActivSight and revolutionize surgical care.”

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ActivSight is the company’s proprietary hardware imaging module that will power its next product, ActivInsights. ActivInsights will be part of the ActivEdge™ software platform, which will use artificial intelligence (AI) and machine learning (ML) technology to produce surgical insights. The first ActivInsight that will be made available is perfusion insights, and will offer the ability to see blood flow and perfusion in real time, without the use of traditional dyes.

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“My mission when I founded Activ Surgical in 2017 was to democratize surgical care by extending insights from experienced surgeons to all surgical systems, ensuring world class surgical care for everyone around the world,” said Dr. Peter Kim, Founder and CSMO, Activ Surgical. “The FDA clearance of our ActivSight enhanced visualization modules brings us one step closer to bringing this vision to fruition, in addition to improving patient safety and surgical outcomes for all.”

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To date, 13 major healthcare systems around the world have committed to ActivSight’s initial launch, which is planned for the second half of 2021.