SS Innovations announced that it completed a private placement of common stock worth $18.6 million.
The company — which is headquartered in Gurugram, India, and has offices in Fort Lauderdale, Florida — sold nearly 5.8 million shares of common stock in the offering. Those shares included 1.3 million shares priced at $4 per share, equaling approximately $5.2 million. Shares were sold to Dr. Sudhir Srivastava, the company’s chair and CEO, for $2 million, Dr. Fred Moll, a leading figure in surgical robotics and the company’s vice chair, for $2 million, and Tim Adams, a director, for nearly $1.2 million.
Related: ANEUVO secures $22M Series C funding to strengthen ExaStim
SS Innovations sold nearly 4.5 million shares at $3 apiece to new and existing investors, totaling $13.4 million. Manipal Global Health Services, an existing shareholder, led this placement.
The company plans to use the net proceeds for working capital and other general corporate purposes. It hopes to advance its global expansion efforts for its surgical robot technology.
SS Innovations develops the Mantra surgical robot, which it submitted to the FDA for 510(k) clearance at the end of 2025. Mantra features a modular, 3D vision, open-console design with ergonomics that the company describes as superior. It engages machine learning models to improve safety and efficiency during procedures.
The company completed the first robotic cardiac surgeries in the Americas with the system in June 2025, and then the first robotic telesurgery for weight loss a couple of weeks later. In September 2025, it announced the world’s first pediatric pyeloplasty telesurgery using Mantra. Then, in November 2025, the company completed the first telesurgery performed with its new Tele Surgeon Console (TSC), building up to its December submission to the FDA.
Commentary from SS Innovations Chair and CEO Dr. Sudhir Srivastava
“The net proceeds from this financing will advance our growth initiatives in India and other existing global markets, while supporting our preparation for entry into the United States and European Union markets. We anticipate that the U.S. Food and Drug Administration will complete its review of our 510(k) premarket notification for our SSi Mantra surgical robotic system by mid-2026. We also continue along the pathway towards a European Union CE marking certification for the SSi Mantra, which we believe we can also obtain in 2026. Insider participation in this financing reflects our strong confidence in SS Innovations’ future and our commitment to democratizing access to world-class surgical robotic care. We appreciate the continuing support of Manipal Global Health Services, a large existing shareholder, and welcome a respected group of new shareholders in the company.”
