Perceive 3D gets 1.3 million in European funding to test technology to help surgeons
This Portugal Ventures portfolio company designs navigation software that helps surgeons operate
Perceive 3D, S.A. (P3D) has managed to raise 1.3 million Euros in SME Instruments’ (SMEi) Phase 2, an incentive scheme integrated in the European Commission's 2020 Horizon Programme which aims to support the most innovative and disruptive European companies.
Backed by Portugal Ventures, P3D was the only Portuguese company to receive financing for Information and Communication Technology (ICT), and is, consequently, one of the ten companies to be selected in Europe from amongst a total of 310 applicants.
Founded by John Barreto and Rui Melo, P3D was able to get financing from the commission’s programme to implement its in.nav Project, which consists of navigation software for orthopaedic surgery guided by video (arthroscopy). in.nav combines intelligent image processing with augmented reality technology to superimpose information on the video to help the surgeon to better perform the procedure.
“This incentive is going to help us conduct the clinical validation of our navigation system for arthroscopic surgery in post mortem trials, in order words, on corpses. Portugal Ventures’ initial investment, in 2013, allowed us to develop the technology. Now, with the incentive from SME instrument, we will be able to test it in order to introduce it into the market”, says João Barreto, chief executive officer.
Celso Guedes de Carvalho, CEO of Portugal Ventures, highlights that this is “one of the most competitive financial instruments in Europe”. “Just as important as the European Commission's incentive is Perceived 3D’s recognition as one of the most innovative companies in Europe, which is particularly relevant in the US market as it gives it significant external credibility and validation,” he says. At the same time, “it also acknowledges the quality of the science produced in Portugal, which underlies the investment Portugal Ventures has been making in this sector”.
P3D is dedicated to developing systems for computer-assisted orthopaedic surgery, focusing especially on arthroscopy, which is a minimally invasive technique where the procedure is performed using small incisions.
The company is a spin-off from the Institute of Systems and Robotics of the University of Coimbra which has been working in close collaboration with the Orthopaedics Department of the University Hospital Centre of the University of Coimbra.