Cardiorobotics Get $5M in VC Financing

Cardiorobotics Inc. has landed $5 million in venture capital, according to a document filed with the U.S. Securities and Exchange Commission.

Cardiorobotics makes the cardioARM, a snake-like, remote-controlled robotic probe intended to minimize incisions necessary for surgical procedures. Company officials have said the initial use of the device would be for cardiac surgeries.

The investors in the round were not disclosed in the regulatory filing.

In June, Cardiorobotics raised a Series A round of $11.6 million from Pittsburgh-based Eagle Ventures, the Pittsburgh Life Sciences Greenhouse and the Slater Technology Fund. At the time, the company said it planned to use that funding for a clinical trial of its product on humans, and to commercialize the product. 

Founded in 2005 as Innovention Technologies, Cardiorobotics was originally based in Pittsburgh, where its founders at the University of Pittsburgh School of Medicine and Carnegie Mellon University continue to work on its robotics technology. In 2007, Cardiorobotics established its business headquarters in Newport, R.I.