Basque Startup Deneb Medical Closes a 14.7 Million Euro Round for Its Spine Surgery Robot

Basque startup Deneb Medical, based in San Sebastian, has closed a 14.7 million euro funding round to keep developing IZAR, its robotic system for spine surgery. The company, which has a team of 22 people, combines robotics, photonics and artificial intelligence to achieve sub millimeter precision in a particularly delicate type of procedure.

The round was led by Spain's Society for Technological Transformation, SETT, with 7.2 million euros, alongside Kutxa Fundazioa, with 2.5 million, and an unnamed US multinational that contributed another 2.5 million. The deal closed between September and October of this year.

Deneb Medical will use the funds to consolidate and refine the IZAR system, grow its team and accelerate the international expansion of its surgical solution.

Spine surgery is one of the most delicate procedures in medicine, and IZAR aims to bring a level of high precision robotic automation to it that is still uncommon in the field. The size of the round reflects investor confidence in the medtech sector and in Spain's growing surgical robotics ecosystem.