(04 Oct 2021) Beyeonics Surgical and Beyeonics Vision, both subsidiaries of Elbit Systems, have raised a further US$36 Million in financing.
The financing comprises of an investment in Beyeonics Surgical and Beyeonics Vision of $26 million led by the Italian investment fund TechWald Holding and the Israeli investment fund Alive Israel HealthTech, with participation of the existing shareholders LR Group, XT Hi-Tech, Aurum Ventures and Mivtach Shamir.
It also includes a $10 million convertible loan to Beyeonics Vision by global surgical ophthalmic company BVI Medical.
Following the investment, Elbit Systems is a minority shareholder in Beyeonics Surgical and Beyeonics Vision.
Beyeonics Surgical and Beyeonics Vision are medical technology companies that aim to interface the systems in operating rooms using augmented reality, tracking and image processing/AI platforms, providing surgeons with valuable information and decision guidance while performing automatic tasks.
The technology is designed to establish a new visualization and control standard in operating rooms by creating an integrated work environment.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, said, “The completion of an additional financing round attests to the commercial potential of our technologies. We are proud to have spun off companies that leverage some of our unique technologies to materially enhance surgeons’ capabilities in the operating room. We hope this investment will enable Beyeonics Surgical and Beyeonics Vision to expand product development, to include additional surgical applications and to accelerate commercialization.”