AiM Medical Robotics Raises $3.4M in Seed Financing to Advance Neurosurgery with MRI-Compatible Robotics

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Mar 15, 2022, 08:00 ET

Financing will accelerate development of the company's first precision robotics platform

FORT LAUDERDALE, Fla., March 15, 2022 /PRNewswire/ -- AiM Medical Robotics, a leading developer of MRI-compatible intraoperative robotics for neurosurgery, today announced that it has raised $3.4 million in seed funding led by IQ Capital and Surrey Capital Partners.

AiM will use the capital to accelerate the development of its industry-first MRI-compatible robotics platform, which is designed to improve outcomes for patients undergoing neurosurgery and provide cost savings to hospitals by eliminating errors and reducing procedure times. The company will also continue to grow its team across research, engineering, and clinical and medical affairs.

Traditional approaches in robot-assisted surgery can be expensive, incompatible with existing surgical workflows, and incapable of meaningfully improving patient outcomes. AiM's platform is designed to be cost-efficient, streamlined, and differentiated in its ability to help improve outcomes for patient undergoing neurosurgery for functional brain disorders (Parkinson's, Epilepsy, etc.) and cancer.

Other investors in the round include The Lambda Fund, a part of the Lamport Family Office, Triple Ring Technologies, and Worcester Polytechnic Institute (WPI), amongst additional inside investors. As of the close, Samantha Surrey, Founder of Surrey Capital Partners, has joined AiM's Board of Directors.

"AiM is on an exciting journey to develop and commercialize an industry-first in robot-assisted surgery with our MRI-compatible robotics platform" said Bob Cathcart, CEO of AiM. "I am honored to have the support of our investors as we continue building our team of experts in robotics and medicine, and as we work towards our north star of improving patient outcomes in neurosurgery."

"AiM is bringing together best-in-class robotics and deep clinical expertise to develop what will be a game changing robot-assisted surgery platform for surgeons and patients" said Samantha Surrey, Founder of Surrey Capital Partners. "I am thrilled to participate in AiM's financing round and to work with fellow members of AiM's Board of Directors to support their team."

"AiM's groundbreaking technology has the potential to transform surgery as we know it, to the great benefit of patients globally" said Ed Stacey, Managing Partner at IQ Capital. "Built on over a decade of academic research and development, AiM's MRI-compatible robotics platform opens the door to unprecedented levels of surgical precision and novel categories of surgical procedures. We are delighted to be supporting AiM's truly outstanding team."

In March 2022, AiM announced that it had appointed Dr. Jonathan Sackier as its Chief Medical Officer (CMO). The news came on the heels of AiM's announcement that Gregory Cole, Ph.D. had been appointed as its Chief Technology Officer (CTO). The company was selected as a Featured Innovator at the Life Science Intelligence Emerging MedTech Summit 2022 and will be presenting at the event which takes place March 15^th to March 18^th in Dana Point, CA.

About AiM Medical Robotics

AiM Medical Robotics is a privately held biotechnology company currently focused on the development of MRI-compatible advanced robotics that are precision-focused, portable, and can be used with any diagnostic MRI scanner. You can follow AiM at www.aimmedrobotics.com and on LinkedIn at https://www.linkedin.com/company/aim-medical-robotics.

About IQ Capital

IQ Capital is the leading deeptech venture capital firm. Based in London and Cambridge, IQ Capital invests in early-stage deeptech businesses using hard-to-replicate technology in massive global markets – across sectors including software, hardware, materials, health tech and life sciences.

IQ Capital's 50+ portfolio companies are visionaries and address some of the largest problems in the world to dominate their respective markets on a global scale and grow rapidly to become sector leaders. IQ Capital's initial investments at Seed and Series A range from £0.5m to £10m, with capacity for follow-on investment up to £30m through a Growth Fund.

The IQ Capital team has achieved over 20 exits, to companies including M&A to Apple, Google, Facebook, Oracle and several IPOs. IQ Capital has led over 30 investments in the last three years in outstanding companies including Thought Machine, Privitar, FNA, Paragraf, causaLens, Neurovalens, Concirrus, Fluidic Analytics, CybSafe, and Nyobolt.

SOURCE AiM Medical Robotics