The funding round was made at a company value of $11 million.
Computer assisted surgery developer Surgix Ltd. has raised $3.1 million at a company value of $11 million. In addition, $1.1 million in loans will be converted into equity. Surgix is developing an orthopedic image guiding surgical solution to improve the accuracy, success rate, and economics of orthopedic trauma procedures.
The financing is in two equal installments: the first at the closing, and the second in 12 months, contingent on meeting certain milestones. Maayan Ventures Ltd. (TASE:MAYN) has committed $200,000 and will convert a $118,000 loan into equity. Other participants in the financing are Surgix chairman Benad Goldwasser, director Meron Mann (a former CEO of Teva Europe), other private investors, and the company's current investors.
Surgix CEO Oren Drori and CTO Ram Nathaniel founded the company.
Published by Globes [online], Israel business news - www.globes-online.com - on July 15, 2010
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