Gauss Surgical raises $20m in Series C

Gauss Surgical said today it raised $20 million in a Series C round of financing to support its Triton surgical blood loss monitoring platform.

The Los Altos, Calif.-based company’s Triton device and software are designed to help reduce unnecessary transfusions by scanning surgical sponges and blood bearing canisters while image-processing algorithms estimate the amount of blood contained in them. The system has received FDA de novo approval and CE Mark approval in the European Union, Gauss Surgical said.

The round was joined by Northwell Health, SoftBank Ventures Korea, the LS Polaris Innovation Fund and seven other “leading US health systems,” the company said.

“As a leader in the AI-driven healthcare technology field, Gauss is profoundly altering the delivery model for medical devices and services in hospitals. We are excited to back the company and its founder’s vision to fundamentally transform the way operating and delivery rooms work. Alongside rapid customer adoption, the Triton platform has already demonstrated concrete drivers of value-based care, including improved clinical outcomes, cost reduction, and operational efficiency,” SoftBank Ventures Korea CEO J.P. Lee said in a prepared statement.

Proceeds from the round will be used to support continued adoption of its Triton system as well as the development of new AI-driven applications intended for operating room use, Gauss Surgical said.

“The practical application of AI in hospitals will be a major growth driver in the medical technology industry, especially in addressing high-cost, high-impact unmet clinical needs. We are pleased to be strategically aligned with investors who bring significant operational experience both in AI-enabled services and in healthcare as we scale our platform,” Gauss founder & CEO Siddarth Satish said in a press release.

The post Gauss Surgical raises $20m in Series C appeared first on MassDevice.

from MassDevice https://ift.tt/2Cnrw5f