ForSight Robotics has announced that it has completed a $55 million Series. The funding round was led by Adani Group along with existing investors such as Eclipse Ventures, Mithril Capital. Provenio Capital, Precision Capital and Reiya Ventures also participated in the round.
Jeet Adani, Vice President, Group Finance, Adani Group said, “We are delighted for the opportunity to invest in ForSight, a company that is transforming the medical landscape with its offering. We see this as a strategic investment with synergies as part of our healthcare business ambitions. ForSight's success will help millions of people around the world see and live better.”
The investment will be used to advance ForSight’s flagship surgical platform ORYOM which will increase accessibility to ophthalmic surgery procedures worldwide and ultimately transform the eye surgery. The firm would also be focussing on expanding their global presence and hiring.
Last year, the robotics firm received an initial $10 million seed funding and since then, it has advanced its technological capabilities and doubled its workforce. They also executed the ORYOM platform to trial multiple cataract procedures on animal eyes models with success
ForSight Chief Executive Officer and Co-Founder Dr. Daniel Glozman said, “We are pleased to be able to advance our technology with this investment to bring robotics into the world of ophthalmic surgery to help millions of patients who have to wait unnecessarily for procedures while their eyesight deteriorates. Our goal is to democratise this highly sophisticated procedure, enabling patients around the world to easily access the treatment that can restore their vision.”
Currently, the company is working on other preventable ophthalmic diseases that can benefit from the accuracy of a robotics platform and advanced visualisation such as retinal diseases and glaucoma among others.
"With the advancement of computing power, AI, and miniature mechanics, better access to healthcare will be made possible. Our goal is to work with industry and surgeons across different geographies in order to benefit as many vision-impaired patients as possible,” added Dr. Joseph Nathan, ForSight Robotics Co-Founder and Chief Business Officer.