Panda Surgical recently announced the closing of a strategic investment worth £1 million ($1.34 million) to support its handheld robotic system.
Oxford Investment Consultants led the round for the London-based company. New Wave Ventures also participated, with UCL Business joining alongside U.S. and European neurosurgeons and operators. The funds support the Panda Surgical system, a novel handheld robotic platform.
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“This investment reflects the strong confidence our investors have in our technology, team, and mission. With their support, we are positioned to bring transformative tools to neurosurgeons and expand access to advanced surgical care for patients worldwide,” said Manios Dimitrakakis, CEO and co-founder of Panda Surgical.
Panda features detachable wristed instruments as small as 3mm in diameter. It aims to combine robotic dexterity with the familiarity of handheld tools. The company says it could enable neurosurgeons to perform more complex procedures in the brain and the spine.
According to Panda Surgical, it plans to use the new funding to accelerate its upcoming first-in-human clinical investigation. It also intends to support the development of its handheld robotic platform designed for confined space surgeries. The funding news comes on the heels of multiple recent milestones. Those include strengthening the company’s patent portfolio, conducting worldwide cadaver labs and successful animal trials.
“We are very excited to be supporting Panda. It has a great team, exciting technology and real passion to transform neurosurgery for the better. We think they are on the way to succeeding with that,” said Hector Edwards, associate at Oxford Investment Consultants and now board director at Panda Surgical.
