Proprio gets $43M to fuel commercialization for AI surgical navigation platform

Proprio, a surgical visualization technology company, raised a $43 million Series B to bring its FDA-cleared platform to market, CEO Gabriel Jones tells Axios.

Why it matters: A persistent shortage of surgeons has increased the need for technology that saves time and makes operating room workflows more efficient.

Details: Sigma Group led the round, with Bird B writing the largest check at $12 million, Jones says.

• Other new investors include Wheelhouse Capital and billionaire investors Jaime Montealegre and Naveen Jain.
• Existing investors DCVC and BOLD Capital Partners also participated.

How it works: Proprio's flagship, FDA-approved platform Paradigm uses light field technology and artificial intelligence to generate a real-time, 3D visualization of surgery.

• Its volumetric intelligence offering combines medical images with live data from Paradigm’s sensor suite
• The platform eliminates the need for intraoperative scans, reducing radiation exposure and saving up to 30 minutes per procedure.

What's next: "The next step is to grow our footprint," Jones said, noting that Series B proceeds will finance marketing, sales and engineering.

• "Funding rounds like this should have a two-year runway," Jones says. "Over that time, we want to bring our platform to multiple locations and grow it nationally and internationally."
• The platform could work for neurosurgery, orthopedics, hard tissue, soft tissue and oncology, he says.