Latest news with #ForSightRobotics
Bloomberg
2 days ago
- Business
- Bloomberg
How AI and Robotics Are Transforming Eye Surgery
ForSight Robotics has just closed a $125 million funding round to help it commercialize its robotic eye surgeons. ForSight's co-founder, President and Chief Medical Officer Dr. Joseph Nathan joins Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
Forbes
4 days ago
- Business
- Forbes
Forbes Daily: A Stunning Upset In the New York City's Mayor's Race
Yur next eye surgeon might just be a robot. Startup ForSight Robotics said Tuesday it raised $125 million to expand its robotics platform that it says is the first in the world for cataracts and other eye diseases. Cataract surgery is one of the most common procedures, with more than 4 million done in the U.S. annually, but there aren't enough doctors to meet the demand. The company, now valued at an estimated $500 million, is testing its technology on pig eyes, but plans to complete its first full robotic surgery on a person later this year. Long term, cofounder Dr. Joseph Nathan told Forbes the technology could also be used for other surgeries, such as retina repairs and glaucoma treatments. Michael M. Santiago/Getty Images Progressive 33-year-old state assemblyman Zohran Mamdani claimed victory in the Democratic Party's New York mayoral primary shortly after former New York Gov. Andrew Cuomo conceded the race on Tuesday night, though it remains to be seen whether Cuomo will run on a separate party's ticket in the general election. But because of the city's ranked-choice voting system, the final tally is likely to take several days. Mamdani, a democratic socialist, campaigned on policies like freezing the rent and free buses. MORE: Despite their different political approaches, Mamdani and Cuomo's life stories share more parallels than one might think, with both having privileged upbringings. But where they diverge is their net worth: Forbes estimates Mamdani to be worth around $200,000, fifty times less than Cuomo, who we peg at $10 million. Stocks proved to be resilient Tuesday, jumping to near record highs despite economic uncertainty and heightened geopolitical tensions. Fueling the rise was optimism that Iran would not close a crucial oil passageway, as the S&P 500 closed up 1.1%, reaching its highest level since late February. TECH + INNOVATION Gado via Getty Images In the wake of the U.S. striking Iranian nuclear sites, social media apps like TikTok, YouTube and Instagram have been flooded with AI-generated pro-Iran propaganda. None of the platforms explicitly prohibit propaganda, but the presence of fake war imagery across social media could inflame tensions between nations and their populations. Autonomous driving leader Waymo launched in Atlanta this week, its fifth major city, just days after competitor Tesla started piloting paid robotaxi rides in Austin. A unit of Google parent Alphabet Inc., Waymo is partnering with Uber for ride booking and vehicle service, and will eventually expand its fleet of cars in the city from dozens to hundreds. MONEY + POLITICS Recent polls suggest that a majority of Americans disapprove of the U.S. bombing of Iranian nuclear facilities, though reactions are split along party lines. The military action has also divided prominent Trump loyalists, though some who initially spoke out against it have since fallen in line. SPORTS + ENTERTAINMENT Getty Images The NBA approved a $1.5 billion deal for former MLB star Alex Rodriguez and e-commerce mogul Marc Lore to purchase the Minnesota Timberwolves Tuesday, following a yearslong dispute with former owner and billionaire Glen Taylor. The transaction, which includes the sale of the controlling interests in the Timberwolves and the WNBA's Minnesota Lynx from Taylor to Lore and Rodriguez, is expected to close later this week. WORLD President Donald Trump dismissed reports that the U.S. attack on Iranian nuclear facilities only set back the country's nuclear program by a few months, and continued to suggest that the sites had been effectively wiped out. A classified report, according to the New York Times , says the U.S. bombing closed off the entrances to two enrichment facilities but 'did not collapse their underground buildings.' TRENDS + EXPLAINERS As the Senate works to pass its version of the One Big Beautiful Bill Act, it must first go through Parliamentarian Elizabeth MacDonough, who has already flagged several portions that would be prohibited under the Byrd Rule, which places limits on what can be included in budget reconciliation. Some of the provisions found to be in violation include attempts to eliminate funding for the Consumer Financial Protection Bureau and an effort to limit the power of the courts, but surprisingly, a proposed 10-year ban on state-level AI regulations was allowed to move forward. While the Senate could vote to waive the Byrd Rule, it would require 60 votes—which Republicans don't have. DAILY COVER STORY The 36 Colleges Most At Risk From Pell Grant Cuts Drury University As part of the huge tax and budget cutting package Republicans are rushing through Congress, legislators are aiming to reduce Uncle Sam's spending on college aid by more than $300 billion over the next decade. Both the House-passed 2025 budget reconciliation bill and the Trump Administration's 2026 budget proposal would also take a chunk out of Pell Grants for low and moderate income students. These half-century-old awards, which don't need to be repaid, make a big difference in whether students from families of modest means enroll and stay in college, their supporters say. Under current policy, Pell Grants of up to $7,395 will be awarded to 7.4 million students during the 2025–26 school year, at a cost of $38.1 billion, the Congressional Budget Office projects. The Trump Administration calls for chopping the maximum award for the 2026–27 school year to just $5,710, arguing that this 23% cut (even bigger if inflation is taken into account) is needed to combat a projected funding shortfall. Although Pell grants play a big role in the budgets of two-year community colleges, they're also crucial to a surprising collection of small four-year institutions. We identified 36 four-year schools where Pell aid made up at least 25% percent of total revenue in 2022–23, the last year for which federal data is available. The list is dominated by colleges in Puerto Rico and religious-affiliated schools, primarily Orthodox Jewish schools in New York. Surprisingly, none is an Historical Black College or University, even though more than 70% of HBCU students are eligible for at least some Pell Grant money. WHY IT MATTERS 'Potential GOP cuts to Pell Grants for lower income students have received comparatively little attention, particularly when compared with student loan changes,' says Forbes intern Fiona Riley. 'But it's not just individual students who will be hurt. Some surprising colleges are dependent on this money.' MORE Trump's Foreign Student Crackdown Puts These 16 Struggling Colleges At Risk FACTS + COMMENTS Millionaires are on the move, as a new report reveals the largest voluntary transfer of private capital in modern history is underway. The United Arab Emirates and the U.S. are gaining new wealthy residents, while China and the U.K. are some of the biggest losers: 142,000: The record number of high net worth individuals (HNWIs), defined as having liquid investable wealth of $1 million or more, who will acquire residency or citizenship status in another country this year About 30%: The share of HNWIs who 'opt for investment migration programs' to secure residency or citizenship 'At stake is a profound shift in economic influence,' according to the Henley Private Wealth Migration Report 2025 STRATEGY + SUCCESS If your new role doesn't match the job description you discussed during interviews, try talking to your manager about expectations. Figure out what's behind the misunderstanding, and come up with your own job description that tries to balance what you want with the company's priorities. But ultimately, if the role doesn't include the responsibilities you expected, it's reasonable to consider cutting your losses and moving elsewhere. VIDEO If you're looking for fast-growing wages, consider the South. Which state is home to four out of the top 10 cities for wage growth? A. North Carolina B. South Carolina C. Florida D. Georgia Check your answer. Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.
Yahoo
4 days ago
- Business
- Yahoo
ForSight Robotics raises $125m for cataract surgery robotic platform
Israel-based ForSight Robotics has completed a Series B funding round, raising $125m to fuel the growth phase of the robotic surgery platform intended for cataract and other eye conditions. Claimed to be a world first, the ORYOM platform is tailored to reduce the physical load on surgeons and improve surgical precision. ForSight is gearing up to introduce first-in-human trials within the year. Spearheaded by Eclipse, the round also included substantial contributions from an undisclosed investor, alongside Intuitive Surgical founder Dr Fred Moll, Reiya Ventures, the Adani Group, and other current investors. This latest financial injection brings the company's total funding to $195m. ForSight noted that the platform leverages AI-based algorithms, computer vision, and micromechanics to provide manoeuvrability and dexterity. Capable of reaching any point in the human eye, the platform claims to facilitate navigation through difficult angles and ensures access to anterior and posterior segments, enabling future glaucoma and retinal surgical treatments. Using the platform, more than 24 ophthalmic surgeons have already performed several procedures on animal eye models. The company plans to begin robotic cataract surgery clinical trials in the upcoming year. ForSight Robotics' chief medical officer, president, and co-founder Dr Joseph Nathan said: 'We see ophthalmology as the next frontier in the robotics revolution – much like general surgery was before the rise of Intuitive Surgical. With a comparable market size and an urgent global need, our opportunity ahead is immense. 'Through our latest funding round, we will bring the same level of transformative impact to eye surgery, with technology designed specifically for its unique precision and complexity.' ForSight has formed a strategic advisory board comprising leaders in surgical robotics. They include MAKO Surgical Corp founder Rony Abovitz and Dr Fred Moll, who recently joined ForSight's board of directors. "ForSight Robotics raises $125m for cataract surgery robotic platform" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Forbes
5 days ago
- Business
- Forbes
Startup ForSight Wants Its Robots To Operate On Your Eyeballs
ForSight Robotics founders (left to right) Daniel Glozman, Joseph Nathan and Moshe Shoham ForSight Robotics C ataract surgery is one of the world's most common medical procedures, with more than 4 million of them done each year in the United States alone, but there simply aren't enough doctors available to meet the demand for everyone who needs the surgery. Enter robotics. An Israeli startup is betting that robots can ultimately do the procedure better and cheaper than human doctors. ForSight Robotics on Tuesday said it had raised $125 million led by Eclipse Ventures to expand its robotic platform, called Oryom, which it says is the world's first for cataracts and other eye diseases. The funding represents the second-largest Series B investment in a surgical robotics startup, and brings ForSight's total investment to $195 million. The new money values the company at an estimated $500 million—a substantial increase since it last raised funds in 2022 at a $162 million valuation, according to VC database PitchBook. Additional investors include Fred Moll, the cofounder of Intuitive Surgical and pioneer of robotic surgery, who has joined the company's strategic advisory board. ForSight has been testing its robot on pig eyes, and plans to complete its first full robotic surgery on a human patient later this year. It's targeting the U.S. market and is in early conversations with the FDA. While ForSight's robots would be the first for cataracts, robotic surgery has become increasingly commonplace since $185 billion (market cap) Intuitive Surgical received FDA approval for its Da Vinci robots 25 years ago. 'At first people were intimidated by robotics' advancement,' Dr. Joseph Nathan, ForSight's cofounder, president and chief medical officer, told Forbes. 'Now they are seeing robotics as the things that will get them the best outcomes.' Cataract surgery, where a surgeon replaces a clouded optical lens with an artificial one, is a very quick procedure, typically taking less than 15 minutes to perform. It's a painstaking task because of the dexterity required to work in such a tiny space. But the surgery's repetitive nature and the fact that it's bloodless makes it easier for robots to handle. 'What we are trying to solve through robotics is a new level of eye care,' Nathan said. 'The procedure itself is the same steps over and over because of the similar anatomy of the eye regardless of age or race.' More than 1 billion people globally suffer from some form of preventable vision impairment or avoidable blindness, according to the World Health Organization. Yet a worldwide shortage of eye doctors—with only 32 ophthalmologists and 14 cataract surgeons per million people—means a vast number of them will never get treatment. That gap is only going to get worse, as the number of ophthalmologists is falling, while demand for eye surgeries to avoid blindness is surging, Nathan said. ForSight's founders first met at the Technion, Israel's institute of technology. Moshe Shoham, a professor emeritus and former head of the Technion's robotics laboratory, had previously cofounded several other robotics companies, including Mazor, which focused on spine surgery and was acquired by Medtronic in 2018 for $1.6 billion. Nathan, a surgeon, had previously led efforts to commercialize healthcare technology coming out of the school. He approached Shoham after wondering why robots for eye surgery didn't already exist despite similar technology being used in other surgeries for the past few decades. They subsequently teamed up with Daniel Glozman, an early student of Shoham's and former head of R&D at Medtronic Ventor Technologies, to launch the company in 2020. 'Many of the successful medical device companies in Israel have come out of Moshe's lab,' said Eclipse partner Seth Winterroth, who led the investment. 'Fred [Moll] and Moshe [Shoham] are the godfathers of surgical robotics.' In March 2021, ForSight raised its first $10 million in seed funding led by Eclipse to develop a surgical robotics platform that could do high-precision and cost-effective eye surgery. Winterroth made that investment along with the firm's partner emeritus Pierre Lamond, one of the country's most respected investors in semiconductors and deep tech who is now 94. 'There is only one procedure that is done more than cataract surgery and that is blood drawing,' said Moll. He said that he had looked at ophthalmological robots a number of years ago, but didn't invest in them then because of the emergence of laser-assisted cataract surgeries, which promised to improve the procedure. 'As far as real surgical technique [that could be helped by robotics], cataract surgery is at the top of the list,' he said. ForSight spent the past four years developing its robotic system that pairs microsurgical robots with computer vision and machine learning algorithms. To test out its bots, ForSight brought in top cataract surgeons to perform the procedure on pig eyes mounted on the topography of a human face. The use of porcine eyes is a common way for surgeons to train as they are, perhaps surprisingly, extremely similar to human eyes. All told, the company (which is now on the third generation of its robot) has done some 300 test procedures on pigs' eyes, Nathan said. By bringing in cataract surgeons, the company is able to incorporate their feedback as it refines the system's technology and design. There is always a doctor in the loop doing the surgery. Nathan said that the company will begin gathering clinical data later this year with the hopes of receiving regulatory approval in the U.S. and being able to commercialize here in 'the next few years.' Eclipse's Winterroth said that the company has enough funding now to get through the FDA approval process. Longer term, Nathan sees opportunity both in populous countries like India, where the gap between the number of people who need cataract surgery and the surgeons available is especially large, and for the robot to do other ophthalmologic surgeries, such as retina repairs, treatments for glaucoma and even more rare and complex surgeries that few doctors are capable of performing. 'Robotics will have to take over,' he said. 'There is no human way to close the gap as we see it.' 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Business Wire
5 days ago
- Business
- Business Wire
ForSight Robotics Secures $125M in Series B Funding, Addressing Global Surgeon Shortage and Exploding Demand for Ophthalmic Surgery
YOKNEAM ILLIT, Israel--(BUSINESS WIRE)-- ForSight Robotics, the pioneer in ophthalmic robotic surgery, announced today it completed a $125M Series B round, led by Eclipse. The investment accelerates the next growth phase for the ORYOM™ Platform, the world's first robotic surgery platform for cataract and other eye diseases designed to enhance surgical precision, increase patient access to high-quality treatment, and decrease the physical burden on surgeons, as the company prepares to launch first-in-human clinical trials this year. In addition to Eclipse, the funding round included significant participation from an undisclosed strategic investor, as well as Dr. Fred Moll, the Adani Group, Reiya Ventures, and other existing investors – bringing ForSight Robotics' total funding to $195M. 'We see ophthalmology as the next frontier in the robotics revolution – much like general surgery was before the rise of Intuitive Surgical. With a comparable market size and an urgent global need, our opportunity ahead is immense,' said Dr. Joseph Nathan. Share 'We see ophthalmology as the next frontier in the robotics revolution – much like general surgery was before the rise of Intuitive Surgical. With a comparable market size and an urgent global need, our opportunity ahead is immense,' said Dr. Joseph Nathan, ForSight Robotics' co-founder, president, and Chief Medical Officer. 'Through our latest funding round, we will bring the same level of transformative impact to eye surgery, with technology designed specifically for its unique precision and complexity.' The global vision crisis, in which over one billion people suffer from preventable vision impairment and avoidable blindness, is punctuated by a limited and declining ophthalmologist workforce. Globally, there are only 31.7 ophthalmologists per million population and 14.1 cataract surgeons per million population. By 2035, the industry expects a 12% decline in ophthalmologists, while demand is projected to increase by 24%. At the same time, over 600 million patients suffer from cataract, and only 30 million of these patients receive surgical treatment. In the U.S. alone, only four million cataract surgeries are performed annually, highlighting the disparity between the number of patients requiring sight-saving treatment and the insufficient surgeon pool. The ORYOM™ Platform is engineered for highly precise and consistent ophthalmic procedures, beginning with cataract. Utilizing AI-based algorithms, advanced computer vision, and micromechanics, the robotic surgery platform aims to deliver unprecedented dexterity and maneuverability while providing surgeons with an improved ergonomic experience. The ORYOM™ Platform can reach any point within the human eye, allowing surgeons to navigate complex angles and ensuring access to both anterior and posterior segments, setting the stage for glaucoma and retinal surgical treatment. 'ForSight Robotics is at the forefront of a transformation in surgical robotics, and the potential impact of its technology on global eye care is extraordinary,' said Seth Winterroth, partner at Eclipse. "The company is tapping into a massive, underserved market with a breakthrough approach to ophthalmic surgery, positioning itself to set a new standard in eye care and drive innovation on a global scale." The Series B funding follows a period of rapid growth and key company achievements. Over the past year, ForSight Robotics – founded by Prof. Moshe Shoham, Dr. Daniel Glozman, and Dr. Joseph Nathan – has expanded its executive team, achieved ISO 13485:2016 certification, a critical regulatory milestone demonstrating the company's commitment to safety and quality, and doubled in size, surpassing 110 employees as it grows to meet increasing demand. To date, over two dozen ophthalmic surgeons have successfully completed hundreds of procedures on animal eye models with the ORYOM™ Platform. ForSight Robotics is set to begin robotic cataract surgery clinical trials in the coming year. As the company scales, the founding team has convened a strategic advisory board of the preeminent leaders in surgical robotics, including Dr. Fred Moll, the founder of Intuitive Surgical and the da Vinci surgical system, who is widely regarded as the 'father of surgical robotics,' and Mr. Rony Abovitz, the founder of MAKO Surgical Corp. Dr. Fred Moll recently joined the company's board of directors. Additionally, ForSight Robotics benefits from the expertise of a world-class clinical advisory board that includes Dr. David Chang, Dr. Vance Thompson, Prof. Boris Malyugin, Dr. Sam Garg, and Dr. Modi Naftali. For more information, visit . About ForSight Robotics Ltd.: ForSight Robotics is a surgical robotics company pioneering world-class technology to democratize quality surgical eye care. The Israel-based company is developing the ORYOM™ Platform ('daylight' in Hebrew), the world's first robotic surgery platform for cataract and widespread eye diseases, which will utilize AI-based algorithms, advanced computer vision, and micromechanics. Backed by globally recognized VCs and industry leaders, ForSight Robotics is redefining ophthalmic surgery and bringing hope to millions of patients worldwide. To learn more, visit and follow us on LinkedIn.
