Beyeonics is a startup that was recently spun off from Israel’s Elbit Systems, concluded a financing round with the aggregate amount of $36 million. This was an aggregate amount because it is actually two sister companies, Beyeonics Surgical Ltd. and Beyeonics Vision Ltd.
This financing round is comprised of an investment in Beyeonics Surgical and Beyeonics Vision in an aggregate amount of $26 million led by the Italian investment fund TechWald Holding and the Israeli investment fund Alive Israel HealthTech. There was also a $10 million convertible loan to Beyeonics Vision by global surgical ophthalmic company BVI Medical (“BVI”). Following the investment, Elbit Systems is a minority shareholder in Beyeonics Surgical and Beyeonics Vision.
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As the name suggests, Beyeonics Vision deals with Ophthalmology. The company has plans to begin commercializing its product Beyeonics One in the U.S. by the end of 2021. This would come, says Beyonics, after the completion of more than 300 successful cataract and retina surgeries performed in the U.S. and Israel.
Beyeonics One is a surgical microscope for anterior & posterior segment ophthalmic surgeries. Built according to the vision of a surgical cockpit, the company declares that it has the capability to meet the visual, informational, and ergonomic needs of the surgeon during different stages of the surgery.
Beyeonics Surgical is focused on Neurosurgery and Orthopedics products, with pipeline applications that include minimally invasive surgery and surgical robotics. The companies offer what they describe as cutting-edge imaging and head-mounted display (HMD) technologies originally developed by Elbit Systems for aerospace applications.
Beyeonics, our medical device spin-off raises $36M.
Beyeonics uses head-mounted display technologies originally developed for aerospace applications to assist surgeons perform surgical procedures. https://t.co/Wmv84dYlfZ pic.twitter.com/ZKe1mzKCxC
— Elbit Systems (@ElbitSystemsLtd) October 3, 2021
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, said, “The completion of an additional financing round attests to the commercial potential of our technologies. We are proud to have spun off companies that leverage some of our unique technologies to materially enhance surgeons’ capabilities in the operating room. We hope this investment will enable Beyeonics Surgical and Beyeonics Vision to expand product development, to include additional surgical applications and to accelerate commercialization.”