Israeli medical company Zsquare announced the completion of a $10 million financing round for further development of its unique endoscope device.
The round was led by Chartered Group, which previously invested in Zsquare, and which has a strong presence in East Asia.
Founded in 2013, Zsquare developed an ultra-thin, flexible, high-resolution, single-use endoscope that it says improves usability and diagnosis quality, as well as eliminate the risk of infection caused by contaminated, reused endoscopes.
Zsquare’s MultiPly single-use endoscopic platform is built with unique 0.45mm square fibers, which provide a distinctive building-block-style modularity, the company says.
Dr. Asaf Shahmoon, CEO and co-founder of Zsquare said: “This investment is a vote of confidence in Zsquare’s unique platform. We firmly believe that our endoscopes will not only transform current practices, but also democratize procedures by expanding the reach of endoscopic-assisted care to outpatient clinics and developing-world settings.”
“Zsquare is set to revolutionize the landscape of endoscopic care by introducing a game-changing modular, single-use concept, opening the door to endless new and exciting integrations in the minimally invasive care world,” said Eyal Agmoni, Chairman of Chartered Group.
Zquare plans to use the funds to apply for FDA clearance.