- Post-IPO Private PlacementUSD 19M — SEC Form D filing: USD 18,621,498 offering, Rule 506(b) exemption, 25 investors, sales commission USD 175,000. This is the largest filed financing since the IPO and the primary incremental funding channel for the company since listing on Nasdaq. Source: SEC EDGAR Form D (CIK 0001676163)
- 7% One-Year Convertible Promissory NoteUSD 2M — Raised USD 2.45M through the issuance of 7% one-year convertible promissory notes to five investors, including USD 1.0M from Sushruta Pvt Ltd—a Bahamas holding company wholly owned by Chairman, CEO, and major shareholder Dr. Sudhir Srivastava, constituting a related-party follow-on investment. The notes bear interest at 7% per annum, with principal and interest maturing one year from their respective issue dates; holders may convert into common stock at USD 4.45/share prior to maturity. Concurrently (February 2024), the company filed for a USD 50M Nasdaq IPO. Note: The offering amount registered via SEC Form D was USD 4M, while actual proceeds were USD 2.45M.
- Reverse MergerUndisclosed — The company's wholly-owned subsidiary merged with CardioVentures, Inc. (Delaware), which is the indirect parent of Indian entity Sudhir Srivastava Innovations Pvt. Ltd. Following the transaction, a change in control occurred; the company was renamed 'SS Innovations International, Inc.' and implemented a one-for-ten reverse stock split. This was a backdoor listing/reverse merger rather than a cash financing round: the company did not receive new cash consideration, but the Indian surgical robotics business was injected into the US-listed entity, paving the way for a subsequent Nasdaq transfer.
- Form D Equity FinancingUSD 1M — SEC Form D filed offering of $542,260, Rule 506(b) exemption, expanding investor count to 26—a typical small-scale, multi-investor crowdfunding-style fundraising for a US micro-cap company. During the same period, the company was still in the animal testing and cadaver testing stage (completed 3 animal tests in 2018–2019, completed cadaver test in August 2020). ⚠️ This round was previously completely missing from the Wu Jie Frontier Company Database. | Source: SEC EDGAR Form D (CIK 0001676163, October 17, 2017)
- Form D Equity FinancingUSD 1M — The entity was then named Avra Medical Robotics, Inc. (registered in Florida as AVRA Surgical Microsystems, Inc. on 2015-02-04, renamed on 2015-11-05). This was a USD 500,000 offering filed via SEC Form D under Rule 506(b) exemption, with 5 investors, used for early-stage R&D of surgical robotic systems. ⚠️ This round was previously completely missing from the Frontier Company Database. Source: SEC EDGAR Form D (CIK 0001676163, 2016-06-03)
Physix Frontier