neoSurgical is a Galway-based medical-device company whose lead product is the neoClose® surgical device. The company has completed product development and secured both FDA and CE Mark certification. Following Kernel Capital’s investment in 2013, neoSurgical attracted a US$5.6M investment from US investor SAIG. The new funding and investor support are intended to drive export-led growth and entry into US and European markets. The transaction valued the company at a US$21M post-money enterprise value. The investment was facilitated as part of the Bank of Ireland Seed and Early Stage Fund’s divestment program. neoSurgical Ltd develops medical devices intended to improve laparoscopic abdominal surgery, with a lead product called neoClose that offers a new method of closing laparoscopic wounds to reduce or prevent herniation complications. The company is led by CEO Barry Russell and has an R&D facility in Galway, Ireland. neoSurgical intends to use its recent funding to develop its products further and to provide them globally. The article does not disclose revenue or user metrics. The focus of the business is product development and global distribution of its surgical devices.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

May 2015