Waltham robotics company Vicarious Surgical to close

Vicarious Surgical, a Waltham-based robotic surgery company once touted as a rising force in medical technology, is shutting down.

The company announced at a July 21 shareholder meeting that it will wind down the business after efforts to secure additional financing failed. 

Founded in 2014, Vicarious Surgical said it will cease operations in an orderly manner at its headquarters at 74 Fourth Ave. while working to preserve the value of its remaining assets for creditors and shareholders.

The move marks the end of a promising startup that had raised hundreds of millions of dollars and had the backing of some of the biggest names in technology, including Microsoft’s Bill Gates and Salesforce founder Marc Benioff.

The company was developing a robot that would allow doctors to perform minimally invasive surgery through a single small incision while controlling robotic instruments from a console. 

At its peak following its 2021 public listing, Vicarious Surgical employed more than 100 people. Multiple cost-cutting rounds reduced the company to just 26 employees before the decision to liquidate. 

The closure marks the end of one of Greater Boston’s more prominent medical technology startups and underscores the funding challenges many venture-backed companies face today.