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.
The startup is aimed at democratizing robotic intervention by providing a compact and adaptable platform for multiple surgical interventions in a hospital.
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
Dr. 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 COVID 19"
About CIIE.CO
CIIE.CO is The Innovation Continuum. This continuum spreads from incubation, acceleration, and seed and growth funding and research. Founded at IIM Ahmedabad in 2002, as an academic centre,CIIE.CO has grown and pivoted from to include acceleration, incubation, investment, research and publication. Overall, we have aimed at filling the multiple, ever-evolving gaps in the Indian innovation-driven entrepreneurship space in many ways. Among various initiatives,CIIE.CO has conceptualised and hosted India's first accelerator, created India's first and so far the only cleantech-focused fund, accelerated over 600 entrepreneurs, funded over 130 startups, inspired over 700,000 with our publication - Stay Hungry Stay Foolish.
All the initiatives on the innovation continuum are aimed at supporting the fearless, innovation-driven entrepreneurs. Working with like-minded partners like corporates, government agencies, investors and academia, helps us push harder towards co-creating exponential change. https://ciie.co/
About Comofi Medtech
Comofi Medtech Pvt. Ltd is a Bangalore based Healthcare Robotics startup. The deep tech startup endeavors to provide healthcare solutions that improve health outcomes for patients and enhance work efficiency and safety of healthcare practitioners.
The Company was founded in 2018 by a team of experienced professionals having complementary skill sets in R&D, designing and product development of medical devices, along with experience in clinical operations, compliance and regulatory areas.