Dental robotics leader Neocis secures $20M in funding

Dental robotics leader Neocis secures $20M in funding




Dental robotics leader Neocis secures $20M in funding

Despite challenging macroeconomic conditions, Neocis secured $20M in financing in 2023 to accelerate growth, with funding participation from Mirae Asset Financial Group and NVIDIA.

MIAMI, Jan. 10, 2024 (GLOBE NEWSWIRE) — Neocis®, the global leader in robot-assisted dental implant surgery, announced today that the company has raised $20M in additional funding. This latest round of financing included Mirae Asset Capital/Mirae Asset Venture Investment, venture capital firms affiliated with the Mirae Asset Financial Group that invest in growth-stage healthcare and technology businesses, and NVentures, NVIDIA’s venture capital arm.

Headquartered in Miami, Neocis manufactures and markets Yomi®, dentistry’s first and only robotic surgical system cleared by the U.S. Food and Drug Administration (FDA). The Yomi platform, which has received a total of 16 FDA 510(k) clearances, assists clinicians during all phases of implant placement via streamlined digital planning and haptic guidance of surgical instrumentation, so users can deliver precise and efficient treatment. To date, more than 40,000 implants have been placed with robotic assistance. A dental implant is placed with Yomi approximately every six minutes, according to current data from Neocis.

“The latest investment is a testament to our growth as a company and how far dental robotics has come since the first Yomi systems were installed,” said Alon Mozes, Neocis’ co-founder and CEO. “We’re tremendously grateful to have the backing of our newest investors, including NVentures and Mirae Asset Financial Group, as well as our existing partners. This funding positions us for continued success in the market and will help us drive meaningful innovation in implant dentistry.”

Neocis, which was named one of South Florida’s 50 fastest growing companies last year by the South Florida Business Journal, will use these additional funds to bolster a wide range of business initiatives from product development and sales enablement to clinical education. To keep pace with the company’s steady growth, Neocis moved into a larger space last summer. The new headquarters, which houses a state-of-the-art manufacturing facility, is located in Miami’s bustling Wynwood neighborhood.

“Neocis is bringing needed innovation to dentistry, and we couldn’t be more excited to support them in that mission,” said Mirae Asset Capital’s Investment Manager, Soojung Kim. “We look forward to working alongside the Neocis team to help them excel in a rapidly growing market and get Yomi in the hands of more providers.”

“Robotics and AI are changing the face of dentistry, enabling innovations that increase doctor efficiency and help them improve the quality of life for their patients,” said Mohamed “Sid” Siddeek, corporate vice president and head of NVentures. “Neocis is transforming dental implant procedures, demonstrating the benefits of robotics and AI in healthcare.”

To learn more about Neocis and the Yomi platform, visit neocis.com.

About Yomi
Yomi is a computerized robotic navigational system intended to provide assistance in both the planning and intraoperative phases of dental implant surgery. The platform can also be used to plan and execute robot-guided alveoloplasty. Yomi is intended for use in partially edentulous and fully edentulous adult patients who qualify for dental implants. Visit neocis.com to learn more about Yomi or schedule a hands-on demo.

About Neocis
Neocis is transforming dental surgery with robotics. The company collaborates closely with leading clinicians across all dental specialties to develop innovative technologies that help advance patient care and improve quality of life. Based in Miami, Neocis is venture-backed with funding from NVentures, Mirae Asset Financial Group, Intuitive Ventures, DFJ Growth, Mithril Capital Management, Norwest Venture Partners, Vivo Capital, Section 32, and surgical robotics pioneer Fred Moll. For more information, visit neocis.com.

Contact
For more information, please contact the Neocis media relations team at info@neocis.com.