- $267K in revenue in 2018 (unaudited)
- Development and Licensing Agreement signed with Cook Medical - Global blue chip medical device company
- Alumni of the Biomedical Zone incubator, a physician-led, hospital-based health technology incubator in downtown Toronto.
- Patent filed on core technology
- Technology has been tested for training at: University of Pennsylvania, Boston University, Royal College of Surgeons in Ireland, and more
- Total Amount Raised: US $421,357
- Total Round Size: US $1,000,000
- Seed :
- Minimum Investment: US $10,000 per investor
- : Crowd Note
- US $3,784,000 :
Approximately 250 million patients undergo surgery worldwide each year. Over 7 million people worldwide are estimated to have suffered from complications during and following a surgery. One million of these people die as a result. It is estimated that, in the U.S. alone, preventable mistakes in surgery every year cost more than $1.3 billion in medical malpractice pay-outs.
Marion Surgical’s software enables surgeons to use real patient data to replicate real surgical training procedures in a safe Virtual Operating Room. Surgeons can use real surgical instruments and experience realistic haptic feedback* during the procedure. As our surgeon user base continues to grow, our surgical data-set can become more extensive and powerful. The surgical big data we gather can also open up commercial opportunities outside of solely VR simulation training (e.g. best-practice tool path data for surgical rehearsals).
We generated $267K in revenue in 2018. Our technology has been validated in an arms length independent study at UPMC and St. Michael's. Our technology has been tested for training at: UPenn, Boston University, University of South Carolina - Chapel Hill, the Royal College of Surgeons in Ireland, and more.
*Haptics = realistic touch/feel
We believe there there are many issues with the current surgical training process. For example, Radiation Exposure Trainings increase the risk of cancer for surgeons; current simulation training (pig models) do not provide metrics assessment; and Pig labs are expensive, unethical, and banned in many countries.
Our customizable training platform is connected to big data, enabling surgeons to learn, collaborate, and practice procedures in a realistic virtual environment. Our tool uses haptic feedback to build muscle memory and can be used for various purposes.
Our solution is a hardware + SAAS cloud solution. We are selling through a reseller sales channel. We charge $100,000 USD for the platform and then $200/user per month for our license.
Ben Sainsbury (CEO) met Dr. Rajiv Singal (CMO) through mutual friends. Ben showed Rajiv a prototype he had built of a cardiac stent operation as part of his PhD work. Dr. Singal, who is a key opinion leader and instructor in urology, convinced Ben to apply the technology to a kidney stone removal operation that he found hard to teach.
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Marion Surgical. Once Marion Surgical accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Marion Surgical in exchange for your securities. At that point, you will be a proud owner in Marion Surgical.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because Marion Surgical is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page by clicking your profile icon in the top right corner.
Currently there is no market or liquidity for these securities. Right now Marion Surgical does not plan to list these securities on a national exchange or another secondary market. At some point Marion Surgical may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Marion Surgical either lists their securities on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is Marion Surgical's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in Marion Surgical’s profile.