Restoration Robotics, Inc., a privately-held medical device company, announced that it has raised $41 million in a Series C financing. Clarus Ventures led the financing and was joined by current venture capital investors Sutter Hill Ventures, Alloy Ventures and Interwest Partners, the company noted in a prepared statement.
Restoration Robotics’ ARTAS System is a physician-controlled, interactive, computer-assisted technology that enables the harvesting of hair follicles during hair restoration procedures. It combines advanced features, including an image-guided robotic arm, special imaging technologies, small dissection punches, and a computer interface. The ARTAS System is capable of identifying and harvesting individual follicular units to implement the follicular unit extraction technique for the benefits of physicians and patients.
The system received 510K clearance from the Food & Drug Administration in April 2011.
According to the International Society of Hair Restoration Surgery (ISHRS)1, at least 35 million men in the United States are affected by male pattern baldness or androgenetic alopecia. By age 50, approximately 50% of men will experience some degree of appreciable hair loss. Approximately one in four men suffer from male pattern baldness, which has psychological, professional and social consequences for these patients, the company statement noted.