Led · Series B · Mar 2023

Zeda provides advanced 3D manufacturing and nanotech solutions, with a focus on metal 3D printing for medical, aerospace, defense, space, and energy applications. The company leverages advanced manufacturing technology to address complex engineering and materials challenges for customers in those sectors. Zeda will use the Series B proceeds to fund a new advanced manufacturing digital foundry in Cincinnati, Ohio and to expand its facilities globally. The company also plans to expand into the Asian market for its medical implant applications. Zeda closed a $52M equity and debt financing as part of this Series B and has raised $68M in total capital to date. The company is led by CEO Shri Shetty and is headquartered in Fremont, CA.

Participated · Series B · Sep 2021

Activ Surgical develops artificial intelligence and augmented reality technologies to improve surgical procedures, primarily through its ActivSight endoscopy imaging system. ActivSight, cleared by the FDA in April 2021, attaches to standard laparoscopes and arthroscopes and uses machine‑learning algorithms to add real‑time measurements of blood flow, tissue perfusion, and vascularity to the camera feed. The system is housed on the ActivEdge platform, which also hosts ActivInsights — augmented‑reality overlays powered by robotics and advanced AI trained on the company’s annotated imaging data. The company plans a worldwide launch and rollout of ActivSight and says the new funding will be used to scale the business and add resources for that debut. Financially, Activ added a $15M extension to its Series B, bringing that round to $60M and substantially increasing its lifetime fundraising since 2020. Hikma Ventures will support deployment efforts, including introductions in the Middle East. Activ Surgical builds intraoperative imaging hardware and software to give surgeons enhanced visualization during minimally invasive procedures. Its primary product, ActivSight, is a hardware module that fits between an endoscope and a white-light camera to visualize blood flow and other structures in real time without injectable dyes. ActivSight received FDA 510(k) clearance in April 2021 and has been tested in a 70-patient clinical trial at the University of Texas Health Science Center and the University of Buffalo. The company plans near-term commercialization of ActivSight in hospital systems across seven states and seeks CE certification to enter seven European countries in 2022. Longer term, Activ Surgical is developing an AI software suite called ActivInsight to analyze intraoperative data, autonomously annotate key structures (nerves, arteries, veins) and return machine-learned guidance to surgeons. The company has raised $45 million in this Series B and $77 million in total to date to support commercial rollout and its AI roadmap. Activ Surgical develops computer vision and AI-powered surgical vision software and connected imaging hardware for use in laparoscopic and arthroscopic procedures. Its ActivEdge platform ingests real-time data from surgical implements outfitted with company sensors to power machine-learning and AI visualizations that guide surgeons and surgical systems. The company’s first product, ActivSight, is a small, connected imaging coddle that can be attached to existing surgical instruments. The platform launched to market in May, and Activ is working with eight U.S. hospital partners on pilot projects. The company is tracking toward FDA clearance for its hardware by Q4 this year. Activ Surgical has raised a total of $32 million in funding to date. Activ Surgical is a digital surgery company that develops patent‑protected, software‑centric and hardware‑agnostic surgical intelligence technology driven by computer vision, AI, analytics and machine learning. Its platform is designed to enhance intra‑operative decision making and reduce unintended and preventable surgical complications for endoscopic and robotically‑assisted procedures. The company’s first planned commercial product, ActivSight, is an advanced software and sensing platform slated for a fall 2020 launch that aims to “ACTIVATE” existing surgical visualization and robotic systems. Activ Surgical intends to use the newly raised funds to accelerate commercialization of its proprietary technology. The company was founded in 2017 and is led by CEO Todd Usen. Activ Surgical develops the Smart Tissue Autonomous Robot (STAR), a surgical robotics system that uses near-infrared fluorescent (NIRF) markers to deliver a biocompatible, near-infrared 3D tracking system for tissue and surgical tools. STAR was developed out of Children’s National Medical Center and is positioned as an improvement over standard optical tracking technology. The company aims to integrate advanced computer vision, artificial intelligence and robotics to fit within operating-room workflow and provide advanced imaging and diagnostic accuracy during surgery. Activ describes a future in which robots could autonomously engage in soft tissue surgery under the supervision of a surgeon. Financially, the company has raised nearly $13 million to continue STAR’s development and filed a Form D with the U.S. SEC on July 1 indicating it had been seeking nearly $19 million. In March, Activ named Todd Usen, the former president of Olympus Medical Systems, as its first CEO.