THINK Surgical has secured up to $65m in growth capital after entering into a debt facility arrangement with Symbiotic Capital, setting the company up with funds to advance commercial activities surrounding its robotics system and companion software for total knee arthroplasty (TKA) procedures.
Under the agreement, the California-based company will obtain an initial $25m, an additional $15m predicated on achieving certain milestones, and up to an additional $25m of discretionary capital.
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Think’s flagship product is TMINI, a handheld robotics system for TKA procedures. Ahead of surgery, patients undergo a CT scan that Think’s TPLAN software uses to create a 3D model of the patient’s joint, allowing surgeons to precisely map out the alignment and select the most appropriate implant from a range of manufacturer options. The system is also used during TKA surgery, along with facilitating any necessary positional adjustments to an implant.
TMINI secured US Food and Drug Administration (FDA) clearance in July 2024. Ahead of the agency’s clearance, Think signed a limited distribution agreement with Zimmer Biomet in June 2024. The orthopaedics giant said at the time that its technology would be integrated into TMINI.
Meanwhile, Think said at the time that it would continue working with additional implant partners to continue selling TMINI as an open platform technology. According to Think, TMINI is currently compatible with approximately 70% of the market share for total knee implants.
Think’s CEO, Stuart Simpson, said: “This facility, combined with recent additional investments by our existing investors, will allow us to continue our significant growth and development of TMINI, and is expected to fully finance the company to profitability.”
Aside from the debt facility with Symbiotic Capital, Think has previously raised around $300m through a mix of venture financing, private equity, and equity offerings.
GlobalData analysis reveals that the overall global robotic surgery market is growing at a CAGR of 5.6% and is projected to reach a valuation of around $20.8bn in 2035. Meanwhile, a GlobalData market model indicates that Stryker led the orthopaedic surgical robotics market in 2025 with a 75.5% market share, followed by Smith & Nephew and Zimmer Biomet in second and third position, with market shares of 10.4% and 9.5%, respectively.
