Virtual Incision Secures $11.2M

What does Virtual Incision do?

Virtual Incision, is a company which is developing advanced robotically assisted surgical devices. It is the pioneer of in vivo mini-robot surgery, enabling minimally invasive colon resection and other procedures relating to the abdomen. Many conditions such as Diverticulitis, Crohon’s etc need a Colectomy procedure done and around 2/3rds of this procedure is done open, which needs a long painful incision. With Virtual Incision, this procedure can be done simply, easily and in cost effective manner using a mini robot. VIC enables MIS Colectomy with laproscopic tools, onboard vision and leading capabilities.

How much Virtual Incision was funded?

Virtual incision raised  $11.2M in Venture round on August 6, 2015 from Bluestem Capital and PrairieGold Venture Partners

Previous funding

$600k in Seed round on January 1, 2006

$6M in Grant fund on January 1, 2008 from NASA, University of Nebraska, Lincoln, University of Nebraska Medical Center and US Army

$3.9M in Series A funding on November 1, 2010 from Bluestem Capital and PrairieGold Venture Partners Partner: Mike Jerstad

$4M in Convertible Note on January 1^st , 2014

What is next for Virtual Incision?

Virtual Incision plans to use the latest funding raised for a feasibility study on the use of its miniaturized robotically assisted surgical technology for resection of the colon, which is a procedure done for treating patients with lower GIT diseases such as Crohn’s disease, diverticulitis, colon cancer and inflammatory bowel diseases.

The company seeks to enable minimally invasive approach for a variety of procedures which are usually done open today, with the chances to improve clinical outcomes and costs, that would benefit physicians, patients, hospitals and the payers. This round of funding will help the company gather clinical data and position the company for its continued growth.

More about Virtual Incision

Virtual Incision was founded in 2006 by DMITRY OLEYNIKOV, Dmitry Oleynikov, SHANE M. FARRITOR and Shane Farritor. It has its headquarters in Lincoln, NE.