Restoration Robotics, Inc., a California based robotics firm said that it had raised $41 million in a Series C financing round for its Artas system. Restoration Robotics has created a high-tech treatment for transplanting hair follicles that involves a robotic arm controlled by a surgeon working from a computer.
ARTAS is an interactive, computer assisted system utilizing image-guided robotics to enhance the quality of hair follicle harvesting. Image Credit: Restoration Robotics, Inc
The finances were raised from Clarus Ventures who joined the existing investors Sutter Hill Ventures, Alloy Ventures, and Interwest Partners. They received clearances from the Food and Drug Administration (FDA) in April. Jim McCollum, President and Chief Executive Officer of Restoration Robotics said that they were delighted to have the financial and strategic support of these top investment firms.
The funds will be used to commercialize and market the U.S. launch of the technology. As per the company website this interactive, computer assisted system utilizes image-guided technology to enhance the quality of hair follicle harvesting for the benefit of physicians and their patients.
Mohan Bodduluri, Ph. D, Co-Founder and Vice President of Research and Development said that this financing enabled them to bring their advanced technology to the marketplace, continue its innovation, and fully support their customers.