The SaaS CFO · Ben Murray
podcastplaybook$15M Series A to Fund Surgical Robots As A Service
Source excerpt
About The SaaS CFOI spoke with Dave Saunders, CTO of Galen Robotics. His company is creating the “Uber” of surgical robots. Galen Robotics will place robots at hospitals and charge per use. This helps increase access to the latest surgical robots. It’s a fascinating hardware and software play, but Dave states that 80-90% of the technology in surgical robots is software. Galen Robotics, a Baltimore, Maryland-based Digital-Surgery-as-a-Service pioneer, completed a $15 million 1st close for an oversubscribed Series A funding round led by Ambix Healthcare Partners. This funding helped complete the final robot prototype and its submission to the FDA. Funds will also be used to develop a clinical sales team, expand engineering, grow product development, and develop surgeon training programs. Founded in 2016 Staff of 40; HQ in Baltimore Pre-revenue but hope to sell in 2023 You need to show constant forward…
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Apollo layer
What a founder can learn
Founder takeaway
For capital-intensive, regulated products, a pay-per-use model can reduce customers’ upfront adoption barrier—but the company must fund the entire adoption system, not just the technology: regulatory work, sales, product development, and user training.
Why it matters
Changing how customers pay can expand access and accelerate adoption, but it also shifts financing, utilization, and execution risk onto the startup. Founders need a capital plan and business model that support the full path from prototype to routine customer use.