Auckland, New Zealand-based Formus Labs followed the $5 million fundraising with the public launch of its orthopedic surgery planning solution for providing surgeons with insight into the pre-operation planning process, according to a news release.
VC firm GD1 led the investment, with Punakaiki Fund, Icehouse Ventures, Pacific Channel and Flying Kiwis also participating. Formus said it plans to use the funds to accelerate product development and its expansion into the U.S.
The partnership with Zimmer Biomet will see the co-development and commercialization of the Formus Hip in Australia and New Zealand as well as the investigation of international markets for global expansion.
Formus designed its platform to fully automate the joint replacement planning process, using AI and biomechanics …