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London Tech Week

Nvidia makes investment in $55.4M funding round of this French surgical robotics startup

Moon Surgical funding
Photo credits: Moon Surgical

Moon Surgical, a French-American pioneer in collaborative robotics, grabbed $55.4 million in additional funding. This round follows the other accomplishments of the company,  including Maestro’s CE Mark last month, and FDA 510(k) clearance in December 2022.

This most recent financing was co-led by Sofinnova Partners, a VC firm that backed Biosyntia and Mablink Bioscience, through its Sofinnova Capital Strategy, and NVIDIA’s venture capital arm, NVentures. Also, the round saw participation from Fred Moll, MD, and Josh Makower, MD. Also joining the round were existing investors GT Healthcare Capital, Cathay Health, Johnson & Johnson Innovation – JJDC, and Sofinnova Partners’ MD Start, as well as Yann Fleureau, Siddarth Satish, Sacha Loiseau, and Richard Leparmentier.

Founded by Brice Gayet, a world-renowned laparoscopic surgeon in 2019, Moon Surgical was incubated by Sofinnova Partners’ MD Start in 2020. The company developed Maestro System, its two-armed robotic surgical assistant. It can help a surgeon by holding or manipulating tissues in laparoscopic surgery. 

The system is placed opposite the surgeon and provides the surgeon with two arms that can be manually moved and locked in place. It is compatible with standard laparoscopic cameras and instruments.

The investment will be used to support the continued development and planned commercialisation of its Maestro System.

“Not even a year after the last one, this new financing is extremely exciting for us, as it will enable us to focus on the upcoming commercial launch of our Maestro System,” stated Anne Osdoit, CEO of Moon Surgical and a Partner in Sofinnova Partners’ MedTech accelerator, MD Start. “The support of Sofinnova Partners, NVIDIA, Fred Moll, Josh Makower, and our existing investor base is further validation of the mission of Moon Surgical and the achievements of our team.”

“The application of robotics in surgery will continue to revolutionize healthcare,” said Mohamed “Sid” Siddeek, Corporate Vice President and Head of NVentures, NVIDIA. “We are confident in Moon Surgical’s capabilities to deliver a unique and innovative solution to the market.”

Appoints new board members 

In addition to the funding, Moon Surgical also announced the appointment of Fred Moll, MD, as an independent Chair of the Board while Gérard Hascoët will remain a Board Director.

Also, Antoine Papiernik, Chairman of Sofinnova Partners, will join Moon Surgical’s Board of Directors, while Mohamed (Sid) Siddeek, Corporate Vice President and Head of NVentures (NVIDIA), and Steve Oesterle, MD, Venture Partner of Cathay Health, will join as Board Observers.

“Surgery by its nature involves more than two hands. With Maestro, the surgeon can fully control the tasks that would otherwise be done by an assistant but in a much more fluid and more convenient way,” said Fred Moll, MD. “It’s a capability that has not been developed before in Robotic Surgery and delivers value in any operating room where laparoscopy is performed.”

“Sofinnova Partners has always supported ambitious, world-leading, category-creating companies which deliver on the promise of their unique technology. Moon Surgical is a prime example,” commented Antoine Papiernik, Chairman, and Managing Partner of Sofinnova Partners.”

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