London-based medtech company Scalpel AI, which is revolutionizing the management of surgical tools and implants using computer vision, has secured £3.8 million in funding, led by Mercia Ventures, with support from Tensor Ventures and private investors. This investment will enable Scalpel AI to scale its global operations.
- Founded in 2017 by Yeshwanth Pulijala and Shahnawaz Ahmed, Scalpel AI leverages computer vision and machine learning to revolutionize the management of surgical instruments.
- The company generates a digital twin for each tool, monitoring its journey from vendor warehouses to operating rooms and back. This process ensures that surgical trays delivered to the operating theatre include the correct equipment, greatly improving efficiency and accuracy.
- By thoroughly validating and tracking instruments throughout the supply chain, the startup helps eliminate costly mistakes, reduce equipment losses, and improve overall visibility for device companies, logistics providers, and surgeons.
"At Scalpel AI, we work with leading medical device companies and healthcare organisations to transform their logistical supply chain and reduce costs by millions of dollars. Together, we are making surgery safer for patients while paving the way for personalised surgery, which we believe is the future of healthcare," co-founder and CEO, Dr Yeshwanth Pulijala, commented
Details of the deal
- The investment was led by Mercia Ventures, a venture capital firm dedicated to supporting early-stage to scale-up investments. Investments range from £1 million to £10 million across the UK.
"This investment will enable the company to scale internationally and pursue its goal of being recognised as the industry standard. We’re excited to be supporting Yesh and Shah on this journey," Claims Lee Lindley of Mercia Ventures.
- The round was also supported by Prague-based investment management firm Tensor Ventures and private investors.
- The funds will enable Scalpel AI to scale its global operations and roll out its technology with major players in the healthcare supply chain, including sterile services, hospitals, and prominent third-party logistics (3PL) services such as GlobalMed Logistix (GMLx).
