Parallel Robotics Discloses $7.3M for Handheld Surgical Robot MediBot
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Parallel Robotics has sold $7.31 million in securities, according to a Form D filed with the SEC on September 21, 2026. The company is seeking $11.31 million in total, which leaves roughly $4 million of the offering still open. Funding databases list the raise as a Seed round.
The surgical device developer is based in Ann Arbor, Michigan. University of Michigan professor Shorya Awtar is behind it.
The filing shows the offering includes preferred shares issued when $6.31 million in promissory notes converted. The first sale took place on August 28. Parallel Robotics reported 32 investors and a $250,000 minimum for outside investors, but it did not name them, identify a lead or disclose a valuation.
The company’s first product is MediBot, a single-use medical device for suturing and knot-tying during minimally invasive abdominal procedures. The FDA cleared it on May 24 as a Class II laparoscopic device. The surgeon articulates the jaws by moving the handle at the wrist, rotates them with a dial and squeezes a trigger to grab a needle or suture. A cable connects the handpiece to a control box that provides power and computation, placing MediBot between rigid manual instruments and full surgical robots with consoles and patient-side carts.
Awtar’s interest in affordable surgical tools goes back years. After joining the University of Michigan faculty in 2007, he co-founded FlexDex Surgical, whose unpowered articulating needle driver launched at a $500 price in 2017 and has been used in thousands of procedures in more than a dozen countries. He was elected to the National Academy of Engineering in 2023.
Parallel Robotics has also landed a $305,000 NSF Phase I award and a worldwide exclusive license from the University of Michigan covering patents for an enhanced-dexterity surgical tool and a transmission system for multi-link end effectors. A Michigan Strategic Fund report separately lists a $250,000 convertible-debt transaction with Parallel Robotics LLC dated October 4, 2024.
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