XACT Robotics

Company Overview

Snapshot

Founded in August 2013 by Harel Gadot, XACT Robotics operated with 11–50 employees. The company secured funding across 4 rounds from 4 investors, totaling $51M in capital raised. In September 2023, XACT Robotics ceased operations and laid off 65 employees.

Business overview

XACT Robotics develops a robotic technology platform for image-guided needle steering in minimally invasive interventional procedures, including biopsies and ablations. Its core technology utilizes a five-degrees-of-freedom robot, continuous needle path calculation, and real-time closed-loop control to compensate for patient movement and breathing. This enables precise and safe needle insertion, even for complex angulated 3D trajectories, without reinsertion. The XACT System, which includes a patient-mounted robot, control unit, and workstation, is applicable across various procedures and target organs using different imaging systems within the image-guided and robot-assisted surgery market. The company operates in the Health Tech & Life Sciences sector, specifically within Medical Devices and Diagnostics Devices, targeting healthcare providers.

Strategic signal

The cessation of XACT Robotics' operations in September 2023, accompanied by layoffs, signals a significant challenge in the commercialization or financial viability of its robotic needle-steering technology. This event indicates a failure to sustain its business model despite prior funding and product clearances, raising questions for investors about the market readiness and economic hurdles faced by advanced medical robotics startups.

Company Intelligence Q&A

What is the primary reason for XACT Robotics ceasing operations?

In September 2023, XACT Robotics ceased operations and laid off 65 employees, indicating a closure of the business.

When did XACT Robotics receive CE Mark approval for its navigation system?

XACT Robotics received CE Mark approval for its robotics navigation system for percutaneous procedures in September 2018.

When was the XACT ACE Robotic System cleared by the FDA?

The XACT ACE Robotic System was cleared by the FDA for image-guided percutaneous procedures in July 2020.

Which investor participated in XACT Robotics' Series A funding round?

In July 2015, MEDX Ventures Group and Office of the Chief Scientist participated in XACT Robotics' Series A funding round.

When did XACT Robotics expand its patent portfolio to include ultrasound technology?

XACT Robotics expanded its patent portfolio to include the use of ultrasound in March 2019.