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Augmedics Employees Lead $15 Million Series B Financing to Secure and Successfully Launch Company Amid COVID-19 Crisis

Jun 15, 2020•over 5 years ago

Amount Raised

$15 Million

Round Type

series b

Chicago

Description

Augmedics, a pioneer in augmented reality surgical image guidance, has raised $15 million in Series B financing, led by its U.S. staff. In a nearly unprecedented move, the company’s employees formed limited liability company AUG Management LLC to raise $4 million in an effort to secure and successfully launch the company as venture capital (VC) all but evaporated during the COVID-19 pandemic.

Company Information

Company

Augmedics

Location

Chicago, Illinois, United States

About

With Augmedics, the future of surgery is within sight. The Chicago-based company aims to improve healthcare by augmenting surgery with cutting edge technologies that solve unmet clinical needs and instill technological confidence in the surgical workflow. Its pioneering xvision system, the first augmented reality guidance system for surgery, allows surgeons to “see” the patient’s anatomy through skin and tissue as if they have “x-ray vision,” and to accurately navigate instruments and implants during spine procedures. Augmedics is backed by Terra Venture Partners and AO Invest, a venture arm of the AO Foundation. The AO is a medically guided, not-for-profit organization, a global network of surgeons, and the world's leading education, innovation, and research organization for the surgical treatment of trauma and musculoskeletal disorders. For more information, visit www.augmedics.com.

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