ClearCam, The Texas Business Hall of Fame Best in Texas Prize Winner, Successfully Raises Series Seed Round

Laparoscopic surgeries are on the rise in the United States and worldwide.  4.5 million of these procedures were performed in the U.S. alone in 2017, 14 million were preformed globally.  These types of procedures are predicted to increase in frequency by about 9.4% annually.

ClearCam, an Austin based medical device startup, has created a device to solve one of surgeon’s biggest complaints with laparoscopic procedures; keeping the scope clean.  

 The current standard of care is to remove the laparoscope from the body, lose the visual field, leave surgical instrumentation unattended, clean the scope with sponge and surfactant, and re-insert the camera.  This adds time in the operating room and longer times under anesthesia for the patient.  Depending on the length of surgery, the laparoscope may be removed as many as 6-12 times per hour in a single operation.  ClearCam’s solution cleans the device while still inside the patient thereby reducing surgical time, reducing surgeon frustration, and improving patient safety.  ClearCam’s device simply slips over the outside of any standard laparoscope and enters the body with the laparoscope during surgery.  Traditional solutions take minutes to clean the scope, but the ClearCam device takes mere seconds to clean the camera.  It works like a windshield wiper on a car, swiping from side to side to clear any debris.  

ClearCam pitched their idea at the Rice Business Plan Competition in 2018 and was the only Texas team to receive one of the major prizes.  They received the $150,000 Houston Angel Network Investment Prize that was partially funded by the Texas Halo Fund.  They also received the Texas Business Hall of Fame Best of Texas Prize at $25,000.   

Since their pitch at the Rice Business Plan Competition the company has moved in stride to bring their device to hospitals across the country.  The company successfully raised $815,000 in their Series Seed round.  They completed a redesign of their device and have seen success with doctors using it on cadavers.  They are on track to beginning the process towards FDA clearance soon and aim to be through it by the end of August.   

Both the Houston Angel Network and the Texas Halo Fund are offering prizes at the Rice Business Plan Competition this year.  This will be the first year the Texas Halo Fund, an early stage investment fund, offers a prize, awarding $100,000 to the company it finds most promising.