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1 November 2017

Level Ex grades $11m series A

Level Ex will use the funding round, led by 4490 Ventures, to scale up its computer game-like approach to teaching physicians’ surgical skills.

Author: Callum Cyrus, reporter

US-based advanced surgery simulation developer Level Ex has raised $11m in a series A round led by 4490 Ventures, a VC fund backed by University of Wisconsin-Madison’s tech transfer organisation Wisconsin Alumni Research Foundation.

The round also featured venture capital firms Jazz Venture Partners and Pritzker Group Venture Capital as well as undisclosed backers.

Founded in 2015, Level Ex has developed a mobile game that enables physicians to rehearse their operating theatre skills by mimicking surgical diagnosis and incisions in a virtual airway.

The capital will help Level Ex develop additional products for mobile, virtual reality and augmented reality platforms, in surgical fields such as gastroenterology and cardiology.

The money will also be used so to recruit game developers, medical professionals and marketing experts, and to open an office in Boston.

Deals database Pitchbook indicates Level Ex previously received series A capital worth $400,000 in September 2016 from startup accelerator Matter as well as Jazz and Pritzker.

Level Ex had previously obtained approximately $2.1m in funding in January 2016, according to a regulatory filing.

Dan Malven, managing director of 4490 Ventures, said: “Level Ex is disrupting the $30bn global industry of how medical device and pharmaceutical companies engage and educate physicians on new products.”

“The Level Ex team has a unique combination of cutting-edge technological skills and a deep understanding of the unmet needs of physicians, medical societies, and medical device and pharmaceutical companies.”

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