Neocis, which has developed the Yomi robot to assist in dental implant surgeries, has brought in $20 million in funding. The Miami-based company plans to use the funding for business initiatives including product development, sales enablement, and clinical education.
“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,” stated Alon Mozes, Neocis’ co-founder and CEO, in a release.
“This funding positions us for continued success in the market and will help us drive meaningful innovation in implant dentistry,” he said.
The U.S. Food and Drug Administration (FDA) has cleared Yomi for robot-assisted dental surgery. The system has a total of 16 FDA 510(k) clearances. To date, more than 40,000 implants have been placed with Yomi, and a new detail implant is placed every six minutes, according to Neocis.
The company explained that Yomi assists clinicians during all phases of implant placement using streamlined digital planning and haptic guidance of surgical instrumentation. It can also be used for performing guided bone reduction, also known as alveoplasty, of the mandible and maxilla, a common dental procedure typically performed following a tooth extraction.
The robot augments the surgeon’s expertise. It isn’t autonomous, and the physician retains control of instrumentation at all times. Yomi guides the physician using physical feedback, on-screen alerts, and audio cues, said Neocis.
The system also assists in the planning phases of dental implant surgeries. The company offers YomiPlan, a software suite that can help clinical teams create precise treatment plans and execute cases efficiently.
“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.”
This funding round’s participants included Mirae Asset Capital/Mirae Asset Venture Investment, and NVentures, NVIDIA’s venture capital unit. It also included venture capital firms affiliated with the Mirae Asset Financial Group, which invests in growth-stage healthcare and technology businesses.
“Neocis is bringing needed innovation to dentistry, and we couldn’t be more excited to support them in that mission,” said Soojung Kim, investment manager at Mirae Asset Capital, in a release. “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.”
“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,” said Mozes.
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