Neocis Bags $40 Million To Continue Transforming Dental Surgery Using Robots

Neocis Bags $40 Million To Continue Transforming Dental Surgery Using Robots

Written by Nancy Dahlberg

Miami-based Neocis has become a pioneer in dental implant surgery, and its Yomi robotic surgical system has been used to place more than 20,000 implants.

Let’s put this number in perspective: Just seven months ago, Yomi’s guided implants hit 10,000.

To continue this growth, news Today, it announced that the company has completed its latest round of financing, with the IPO exceeding $49 million.

The round was led by a large, undisclosed specialist investor in the dental industry and joined by Intuitive Ventures, the independent venture capital arm of Intuitive Surgical. Existing investors DFJ Growth, Vivo Capital, Mithril Capital Management, Norwest Venture Partners and Fred Moll also participated in the round. In total, Neocis has raised more than $160 million, including $72 million Series D. Round about a year ago.

“For a company in dental robotics, I couldn’t dream of a better group of investors than this,” said Alon Moses, CEO of Neocis, who co-founded the company with Juan Salcedo. “This new support underscores Neocis’ strong position in a growing market and will help us further develop our products and commercial efforts.”

Alon Moses, co-founder and CEO of Neocis

Neocis manufactures and sells Yomi, the first and only FDA-approved dental robotic surgical system. Yomi allows dentists to accurately pre-plan the dental implant procedure and then guide their hands during surgery according to the pre-operative plan using haptic robotic feedback. Due to the increased accuracy and digital planning that my day provides, dentists can make smaller incisions. For patients, this means less pain and faster recovery.

The company said the company will use the funds to continue accelerating research and development efforts, strengthening marketing and educational initiatives, and expanding its sales, clinical support, and business improvement teams.

“We never sit back and relax. We are always improving the system, making it easier to use, and expanding its functionality so it can do more and more in practices,” Mozes said. In a previous interview with Refresh Miami.

Moses grew up in South Florida, and after earning his bachelor’s and master’s degrees in engineering at MIT, he got his start in Silicon Valley working for an innovator in sports broadcasting special effects. In 2004, he returned to Miami to study biomedical engineering at the University of Miami, receiving his Ph.D. In 2005, Mozes became one of the first 20 employees of Mako Surgical, working there through the Mako IPO.

Mozes and Salcedo, two engineers who met while working at Mako, were working on their idea for Neocis on the side, and in 2012 they got their first angel money from Moll, a pioneer in robotics. They are part of a network of former MACO leaders and employees who have set out to form or develop other projects in South Florida, including Magic Leap, OrthoSensor, Insightec, and DermaSensor.

True to his Miami roots, Neocis is Currently hiring Of 35 roles in Miami, more than half of them are engineering jobs in hardware and software research and development.

There will be room for them too. Earlier this year, Neocis Sign a rental agreement For 38,000 square feet of office space at 545wyn in Miami’s Wynwood neighborhood, three times the size of its previous offices, it will move into it after construction. Newsys employed 140 people in March, up from just 10 in 2016.

This report will be updated. Follow Nancy Dahlberg on Twitter @ndahlberg and email her at ndahlbergbiz@gmail.com

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