🚨 Investment Opportunity🚨
As a Daily Dropout reader, you are invited to invest in this week's startup, Monogram. Read on to learn more!
This week’s company is ushering in the future of joint replacement (yes, for humans) via surgical robots. Let’s check out Monogram Orthopedics!
⚾ The Elevator Pitch:
Each year over 1 million knee replacements are performed, contributing to a growing $19.6 Billion market. 50%-75% of these replacements are performed with surgical robots thanks to advancements in robotics & AI. Scarily, up to 10% of total knee replacements fail on an annual basis due to dislocation, mechanical loosening, or other complications.
Monogram Orthopedics uses robotic AI and 3D printing technology to produce the best knee replacements possible. The company designs, develops, and operates a surgical workflow to improve the accuracy of implant placement. Monogram estimates that their implants are up to 270% more stable than generic equivalents.
👇 The Drop Down
Site: https://www.monogramorthopedics.com/
Founded: 2016
Stage: Series B
Tech Trend: MedTech
Traction: Raised over $20 Million Series-B funding from over 6500 investors, Featured on Orthoworld, SeedInvest, and Businesswire.
Team - CalTech and Medical professionals
Benjamin Sexson (CEO), Douglas Unis (CMO)
🔍 Why we like it
- 🧳 The IP to get it started
Monogram filed 8 implant design patents and is currently working on a strategic licensing agreement related to certain implant IPs. They’re ready to get started making money - completing their first Total Knee Arthroplasty ("TKA") procedure as a company in March 2021. - 💸 Already Raised $20 Million, next target $34 Million
Monogram orthopedics has already raised over $20 Million on a crowdfunding platform. Right now, their set goals are to target $34 million in its active round. Aiming to personalize the $19.6 billion market, Benjamin Sexson, the CEO of Monogram, is optimistic that the company will soon start its third series of funding. "The total orthopedic market is $53BN annually. We are initially focused on knee replacement but will soon offer hip, ankle, shoulders, and spine replacement as well. We are expected to generate revenue by the end of 2021.” says Benjamin. - 📈 Novel Technology for Massive market
There are over 1 million knee replacements every year and it is expected approximately 50% of all knee procedures will be done by robotics by 2027. The monogram approach to uncemented or press-fit implants is already been preferred by the industry and will play a key significant role in the overall surgical replacement procedure. Monogram comes at an opportune time as Centers for Medicare & Medicaid Services (CMS) has already removed the procedure from inpatient-only list to outpatient basis. This change let alone will save more than $10,000 per patient.
🚀 You’ve read about them, but are you ready to invest?
Monogram is raising another round and is planning to use future funds for fueling expansion. If you’re interested in investing or want to learn more, navigate to their StartEngine campaign.
🤝 Get involved with Monogram Orthopedics
- Invest in Monogram Orthopedics
- Read the updates on their website
- Follow them on Facebook, Twitter, and Instagram
