By Tim Ryan
Emerging from the 757 Accelerate program based in Norfolk, Virginia, Hubly Surgical is carving its niche in the field of neurosurgical innovation. Recently, the company announced two significant milestones: closing a successful Series Seed funding round at an oversubscribed $3 million and obtaining FDA clearance for their groundbreaking Hubly Drill.
The completion of the 757 Accelerate program, a venture that helps promising startups scale their businesses, has indubitably played a significant role in Hubly’s success. It has provided the company with an invaluable foundation, enabling it to excel in a competitive field and navigate the complexities of medical device entrepreneurship.
The FDA Clearance is a noteworthy achievement for Hubly Surgical, affirming its steadfast commitment to redefining neurosurgical care. This rigorous regulatory approval verifies the safety and efficacy of the Hubly Drill, instilling confidence in investors about the company’s positive trajectory towards both financial growth and meaningful patient impact.
The oversubscribed $3 million Seed round attracted a diverse group of investors, including Hubly Surgical’s commission-only distributor sales force, existing investors, as well as neurosurgeons and physician-centric funds. Each of these pillars underpins a core performance metric of the company, strengthening strategic partnerships and bolstering growth prospects.
The $3 million funding will drive Hubly Surgical’s expansion, allowing it to extend its commercial launch to three additional regions in the United States. Additionally, the investment will support post-market clinical data collection and new product development, including a collaboration with Ontogen Medtech to address a wider range of patient needs.
Reflecting on the accomplishments, Casey Qadir (m. Grage), Founder/CEO of Hubly, said, “FDA Clearance is our most significant milestone to date. The support from our sales force, existing investors, and neurosurgeon users invigorates our mission to transform neurosurgical procedures. With this investment, we’re ready to deliver innovative solutions that improve surgical outcomes across all settings.”
About Hubly Surgical:
Hubly Surgical, founded in 2019, is a medical device company driven by a mission to improve patient outcomes and the quality of surgical care. Their flagship product, the Hubly Drill, is paving the way for a new standard in bedside cranial access. The company is based in Lisle, IL.