Gauss Surgical, the US-based developer of a system that monitors blood loss during surgery, has closed a $12m series A round featuring corporate-backed venture capital fund Summation Health Ventures.
Summation, formed by healthcare providers MemorialCare Health System and Cedars-Sinai Health System, was joined by Promus Ventures, which led the round, and LifeForce Ventures
Gauss plans to use the cash to accelerate commercialisation of its Triton System, a platform that uses a tablet camera to scan surgical sponges and canisters, sending the images to the cloud where algorithms can estimate surgical blood loss in real time.
Siddarth Satish, chairman and chief technology officer of Gauss Surgical, said: “We are thrilled at the calibre of investors who continue to support our vision at Gauss.
“This next period will further enable us to technologically advance blood management as a patient safety issue, while allowing us to fundamentally reframe patient monitoring as a services and solutions business.”
Founded in 2011, Gauss had raised $3.1m in 2013 and a further $1.5m in October 2014, according to regulatory filings. Its past investors include Taube Investment Partners and a range of angel investors.
– Image courtesy of Gauss Surgical, Inc.