Funding

Brisbane robotics surgery startup operates on $5 million Series A

- January 16, 2025 < 1 MIN READ
Operation, AI, doctors
Photo: AdobeStock
A medtech startup developing the world’s first arthroscopic (joints) surgical robot has raised $5 million in a Series A to crack the US market.

Convergence Medical was backed by US investor Avicella Capital, at a valuation above $30 million. The funds will support plans to commercialise the robot, expand into the US to grab a slice of the $6.1 billion global arthroscopic sector.

The medtech startup was founded three years ago by orthopaedic doctor Chris Jeffery,

Arthroscopic surgery is used to treat more than 50 million injured wrists, elbows, shoulders, spines, hips, knees and ankles around the world annually. The V01 robot developed by Convergence Medical is designed to reduce the physical and cognitive burden on surgeons and improve operative precision and dexterity.

The VO1 was accepted into the US Food and Drug Administration’s (FDA) Breakthrough Devices Program in December 2023, expediting its path to market.

Jeffery, the CEO, was previously involved in medtech startups Field Orthopaedics and Audeara, said the

“This funding enables us to accelerate our growth and bring our transformative technology to hospitals and surgeons around the globe,” he said.

“Our mission is to create more efficient, effective solutions that support medical professionals and improve patient outcomes worldwide.”

Avicella Capital cofounder Dr Gennady Bratslavsky said Convergence Medical is looking to transform arthroscopic surgeries for physicians and patients globally.