Microsure has closed a Series B2 investment round worth $40m (€38m). The company stated it will use the funding to advance its microsurgical robot MUSA-3 through clinical studies and regulatory clearings.

The European Innovation Council Fund (EICF), kineo, and invest-NL join existing shareholders that include deep-tech VC firm Innovation Industries. Micosure added that it has entered into an asset financing agreement with kineo to lease its robot to hospitals.

The Eindhoven, Netherlands-based company had already received a European Innovation Council Accelerator grant and backing from the Dutch Ministry of Economic Affairs.

MUSA-3, Microsure’s first commercial product, is designed for open microsurgery and allows surgeons to use their own instruments. The robot builds upon its previous iteration, MUSA-2, to offer enhanced dexterity and tremor reduction with micro-instruments. Surgeons operate the robot using joysticks on a console with a separate digital or hybrid digital microscope.

The company has already completed several clinical studies with the MUSA-2 prototype at the Maastricht University Medical Center in the Netherlands and Uppsala Academic Hospital in Sweden. Microsure says the studies, which include around 50 patients across various surgical indications, have produced positive results.

Robot surgical systems is one of the fastest-growing medical device markets. The market was worth $2.7bn in 2022, and ispredicted to increase three-fold to nearly $9bn by 2033. Intuitive Surgical – maker of the Da Vinci surgical systems – dominates the global market with a 57.4% market share.

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Sjaak Deckers, CEO of Microsure said: “The continued expansion of Microsure’s clinical network strategically positions the company for upcoming clinical studies, an integral part of our journey towards securing FDA clearance and CE-mark certification.”