Cobionix ready to expand with $3M for healthcare robotics

Cobionix showed its robot arm for healthcare use cases at the 2024 Robotics Summit & Expo. Source: The Robot Report

Cobionix, which is developing autonomous systems for the healthcare industry, today said it has closed a $3 million (U.S.) strategic funding round. The company said it will use the investment to commercialize CODI, its multi-functional robotic platform designed to enhance healthcare delivery through advanced automation and artificial intelligence.

As part of closing the investment, Cobionix recently moved its headquarters to support the necessary growth for commercialization and manufacturing, maintaining its base in Kitchener, Ontario. The company started as a member of the MassRobotics Healthcare Catalyst program.

CODI coming to the U.K., Canada, and the U.S.

Cobionix described CODI as a “configurable, medical-collaborative robotics platform capable of performing a wide range of patient-facing tasks, including diagnostic ultrasound procedures.” Unlike robots that require significant hardware modifications for different clinical applications, CODI’s design allows for rapid adaptation to various tasks through simple tool changes and over-the-air software updates, asserted the company.

CODI is already capable of teleoperated ultrasound operation, Dan Vu, director of business development at Cobionix, told The Robot Report. However, the company is busy perfecting its fully autonomous ultrasound functionality, which is the primary goal for the future of CODI.

With CODI, it will be possible to enable healthcare applications such as ultrasound appointments for pregnant mothers who reside in rural regions without nearby access to ultrasound facilities, he said.

Cobionix plans to introduce CODI in the U.K. market by the end of the year, followed by Canada in 2026 and the U.S. by mid-2026. The company chose the U.K. as the initial launch market because of its supportive environment for innovation and streamlined pathways for ultrasound applications, as well as strong demand to address challenges in ultrasound imaging, according to Vu.

“With an increasing need for highly skilled medical care in our country, especially in our rural communities, we need to leverage unique technological advances to stretch our highly skilled workforce,” said Dr. Ashok Rai, president and CEO of Green Bay, Wis.-based Prevea Health.

“CODI does just that, by allowing ultrasound technologists to perform ultrasounds remotely with the same level of expertise and hands-on care as if the patient was right in front of them,” he added. “No longer will where you live be a limiting factor in the kind of medical care you receive, thanks to the technology that CODI brings to the market.”

TitletownTech backs Cobionix

TitletownTech, a venture capital firm backed by Microsoft and the Green Bay Packers, led Cobionix’s funding round. Lions Investment and Dr. Paul McBeth, a medical robotics key opinion leader (KOL), also participated, among others.

“This partnership with TitletownTech marks a significant milestone in our mission to revolutionize healthcare delivery and drive the advancement of human and machine at the patient’s bedside,” said Matthew Sefati, CEO of Cobionix.

TitletownTech focuses on early-stage startups with significant growth potential in key industries that are reflective of its network and region, in particular those in Wisconsin and the Midwest. The firm has a portfolio of almost 40 startups, and Cobionix is one of its first robotics investments.

“Medical robotics is at the intersection of several powerful technology trends, and Cobionix is harnessing that convergence in a way that has real potential to transform healthcare,” said TitletownTech Managing Partner Jill Enos. “We’re excited to support the team’s vision as the company pushes the boundaries of what’s possible in this space.”

“Their support will enable us to expand the reach of CODI, bringing cutting-edge robotic solutions to healthcare providers and patients worldwide,” said Nima Zamani, co-founder and chief technology officer of Cobionix.

The company said the investment will help scale ongoing pilot programs, which are currently in the research and clinical pilot phase, including partnerships with the Saskatchewan Health Authority in Canada and the U.K. National Health Service. The new funding will help support those pilot projects and “move CODI from bench to bedside,” said Cobionix, with a focus on launching in the U.S. market.

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