CIIE.CO, IIM Ahmedabad’s incubator, invests in Comofi Medtech, a healthcare robotics startup based out of Bangalore. It is building a patented deep tech surgery intervention platform nGuideTM that helps surgeons to visualize the target area in great detail and increase surgical efficiency, outcome and safety of healthcare practitioners. JITO Angels Network & KIIT TBI also participated in this round and the startup has raised a total 2.15 Cr investment.
The startup was founded in 2018 by a passionate team with a vision to build world-class medical technology products in India for the world. Comofi leverages the use of mechatronics, robotics, AI, and AR technologies to develop its proprietary nGuideTM platform. “Surgery use cases and technologies are moving towards intra-operative planning. Real-time and more accurate planning is possible due to advancement in medical image processing”, said CEO and Co-founder, Dr. Satish Kalme. “Funds will be invested for team expansion, product compliance, certification and working capital. We are excited with this partnership that will help us increase the hospital network, add strategic depth, and achieve the first few installations in the hospitals”, he added.
With the advancements in technology, the healthcare industry has witnessed the development of image-guided and robotic-assisted surgeries. These surgeries have resulted in reduced surgical errors and have enhanced surgeons’ performance. However market research indicates that the next-gen robotic-assisted platforms must be more Compact, Flexible, and Cost-Effective to improve its adoption. The global market for image-guided and robot-assisted surgery is expected to reach US$ 6.34 Bn while growing at an annual rate of 13.91%, as per an industry report.
“Given that surgical interventions are complex and such deeptech products can make lives easier for both doctors & patients, gives us confidence in backing Comofi and the team behind it. We believe these interventions are the need of the hour & have huge scope globally”, said Chintan Antani, AVP – Seed Investing, CIIE.CO. CIIE.CO has also supported MedTech startups such as Crimson & Rcupe to name a couple under NIDHI Seed Support System, DST, GoI in the past by providing catalytic capital.
“Innovation for the betterment of mankind is the key driver of this century – Comofi is one little step towards it. The team is young, multi-disciplinary, and dynamic and has a vision to develop sustainable, reliable, efficient, and economic-yet-innovative solutions. We at JITO Angel Network are delighted to have Comofi in our expanding portfolio of Healthcare”- Lead Investor – Sidharth Bagadia, JITO ANGEL NETWORK
Mrutyunjay Suar, CEO, KIIT-TBI, said, “Comofi Medtech is one of our deep tech start-up building robotic arm for precision surgery. Initially supported with BIG grant of BIRAC, GoI for PoC and subsequently for market access program under NIDHI Accelerator, DST, GoI. During pandemic the start-up was supported under DST CAWACH fund for deploying solutions to fight Covid19.”