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Mohan Co-Founded Restoration Robotics raised $41 Million
By siliconindia
Santa Clara: California-based Restoration Robotics, a privately held medical device company, raised $41 million in series C round of funding. Clarus Ventures led the funding and the current investors Sutter Hill Ventures, Alloy Ventures and Interwest Partners participated in the deal.
Co-Founded by Mohan Budduluri and John McCollum, Restoration Robotics is dedicated to revolutionizing the field of hair transplantation by developing and commercializing a state-of-the-art image-guided system that enables follicular unit extraction. This interactive, computer assisted system uses an image-guided robotic arm to enhance the quality of hair follicle harvesting for the benefit of physicians and their patients.
John McCollum, President and CEO, Restoration Robotics, said that The ARTAS System has the potential to transform the global hair restoration market and they will now focus on the commercialization and U.S. market launch of the technology. The system enables harvesting of hair follicles during hair restoration procedures. It combines many advanced features including an image-guided robotic arm, special imaging technologies, small dissection punches and a computer interface.
Mohan Budduluri, Co-Founder and VP-R&D, said that this financing will enable them to bring their advanced technology to the marketplace, continue their innovation and fully support their customers. Prior to co-founding Restoration Robotics, Budduluri was VP-R&D of Accuray Incorporated, a robotic radiosurgery firm, from 1995 to 2003. He played a central role in the clinical investigations and customer education for the CyberKnife radiosurgery system. Prior to Accuray, he conducted research in computer-aided design and manufacturing under a post-doctoral fellowship at the University of California. Budduluri received his Bachelor of Technology degree from the Indian Institute of Technology, Madras, his M.S. in Mechanical Engineering from the University of Pennsylvania and his Ph.D. in Mechanical Engineering from the University of California.
