# Minimally Invasive Devices

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/minimally-invasive-devices

- Industry: Medical Devices & Equipment
- Headquarters: Columbus, US
- Website: www.floshield.com
- Total disclosed funding: $23M
- Latest round: Series C (May 8, 2015)
- Investors on record: 4

## About

Minimally Invasive Devices, Inc. specializes in advanced surgical visualization technologies, notably through its innovative FloShield system that enhances clarity and efficiency in laparoscopic surgeries.Minimally Invasive Devices, Inc. was founded in 2006 and is headquartered in Columbus, US. The company focuses on developing surgical visualization solutions to improve laparoscopic procedures. In July 2015, the company raised USD 5 mn in VENTURE DEBT financing from Square 1 Bank, totaling USD 0.420 mn raised in earlier rounds. The firm has completed 13 deals since its inception.FloShield offers advanced surgical visualization solutions, primarily through its flagship product, the FloShield system, which utilizes patented Vortex Barrier Technology™. This system features a sheath that directs carbon dioxide gas (CO2) to the tip of a laparoscope, effectively preventing condensation, debris, and smoke from obscuring the lens. By integrating the capability to clean the lens intra-operatively with the Flo-X in situ feature, the FloShield system enhances surgical workflow and aims to minimize the need for scope removal during laparoscopic procedures. The primary end users of FloShield's products are healthcare professionals, particularly surgeons specializing in laparoscopic surgeries, across various geographical markets including North America, Europe, and select countries in Asia. The FloShield system is designed to be compatible with a range of laparoscopes, including traditional and robotic systems, thereby addressing the needs of both general and specialized surgical environments.FloShield generates revenue through direct sales of its innovative surgical products, primarily targeting hospitals, surgical centers, and medical institutions. Transactions typically occur through direct partnerships with healthcare providers, resulting in bulk orders for the FloShield system and associated products. The company's revenue structure is anchored in the sale of its flagship offerings, FloShield Air and FloShield Plus, which are marketed for their unique defogging and cleaning capabilities during procedures. Pricing plans are structured around the volume of purchases and institutional agreements, ensuring competitive rates for continuous supply. These arrangements solidify FloShield's presence within the medical device market, allowing the company to maintain a steady revenue stream through ongoing client engagement and support.In July 2015, Minimally Invasive Devices, Inc. raised USD 5 mn in VENTURE DEBT financing from Square 1 Bank. The company aims to utilize these funds to expand its product range and enhance existing technologies. Future plans include the introduction of new products designed to optimize surgical procedures, with a focus on upcoming features that improve user experience. Geographically, Minimally Invasive Devices, Inc. is exploring entry into select countries in Asia to broaden its market reach, targeting expansion initiatives by the end of 2023.

## Funding rounds

- Series C, May 8, 2015, $0.4M — Charter Life Sciences, Radius Ventures
- Series C, Feb 18, 2015, $12M — Charter Life Sciences, Canaan Partners, Radius Ventures, Rev1 Ventures
- Series B, Jun 17, 2013, $2.5M — Radius Ventures
- Series B, Dec 12, 2012, $8M — Charter Life Sciences, Canaan Partners
- Series A, Feb 1, 2007 — Rev1 Ventures

## Investors

- Rev1 Ventures (https://capitalatlas.ai/funds/rev1-ventures) — Series A, Series C
- Charter Life Sciences (https://capitalatlas.ai/funds/charter-life-sciences) — Series B, Series C
- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Series B, Series C
- Radius Ventures (https://capitalatlas.ai/funds/radius-ventures) — Series B, Series C