UK-based medical equipment developer CMR Surgical has raised $100m in a Series B funding round to support the commercialisation of its next-generation surgical robotic system Versius.
The new financing came from Zhejiang Silk Road Fund and the company’s existing investors Escala Capital Investments, Watrium, LGT and Cambridge Innovation Capital.
CMR Surgical said it will use the fresh funds to complete the validation studies required for the regulatory approval processes of the Versius system in Europe and the US.
The company is also planning for international expansion and commercial scale-up to cater to the robot-assisted minimal access surgery market, which is expected to touch $20bn by 2025.
CMR Surgical CEO Martin Frost said: “CMR Surgical’s rapid growth has given us the opportunity to develop a life-changing solution which we expect to change the take up of minimal access surgery worldwide.
“With these latest funds, we intend to start commercialising Versius in Europe, the USA and more broadly.”
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Founded in 2014, CMR Surgical focuses on developing robotic solutions for minimal access surgery and helping numerous people who undergo open surgery each year.
The compact and portable Versius system has been designed to meet the complex requirements of laparoscopic surgery.
The system can easily fit into hospital workflows and its ergonomic console design will alleviate surgeons’ physical and mental effort, the company added.
Currently, the system is being studied in pre-clinical trials for its ability to perform gastrointestinal, gynaecological, colorectal and renal surgeries.