Hubly Surgical has successfully closed its Series seed funding round at an oversubscribed US$3 million. As per a company announcement, this investment comes on the heels of a recent US Food and Drug Administration (FDA) clearance for the Hubly Drill—a patented device poised to “revolutionise” bedside neurosurgery.
The funds will be instrumental in bringing the Hubly Drill to market and driving further advancements in the surgical field, the company further claims.
The oversubscribed US$3 million seed round comprises several key investors: the vast majority of the raise came from the Hubly Surgical commission-only distributor sales force; existing Hubly investors; and from neurosurgeons and physician-centric funds. Each group validates a core pillar of the company’s performance metrics and strengthens strategic partnerships.
The secured US$3 million funding will drive Hubly Surgical’s growth objectives. According to its recent announcement, the company will expand its commercial launch to three additional regions in the USA, increasing access to its flagship cranial drill product. Further, Hubly Surgical plans to invest in post-market clinical data collection and new product development efforts in partnership with Ontogen Medtech to address additional patient indications.
“FDA clearance is our most significant milestone to date, but it would not be as powerful without the resources to commercialise. I am honoured and thrilled to have solicited such strong support from our sales force, existing investors, and the neurosurgeon users, all of whom share our vision for transforming neurosurgical procedures,” said Casey Qadir, founder and CEO of Hubly Surgical. “With this investment, we are well-positioned to provide innovative solutions that improve surgical outcomes in all settings.”
