SoftBank and Tencent-backed medical robotics company CMR Surgical has secured a $200m (£154.5m) funding round to fuel growth in the US market.
The Cambridge-based group said its latest fundraise will support the global commercialisation of its Versius surgical robotic system, with plans to launch it in the US, with a medtech market size of over $567bn.
According to the company, Versius – a soft tissue surgical robot – has been used in more than 30,000 surgical cases in over 30 countries. The tool is used for a broad range of procedures including colorectal, gynaecology, thoracic and urology surgeries.
“CMR is a competitive, well-established company with a transformative product providing clear clinical value,” saidCEO Massimiliano Colella.
“We are now at a pivotal stage, poised to capitalise on significant opportunities for market expansion, including in the US, while continuing to penetrate deeper into existing markets.”
The combined equity and debt financing saw support from new investor Trinity Capital, alongside existing backers.
“CMR has established itself as a trailblazer in surgical robotics, with Versius already proving its value to surgeons and patients worldwide,” said Rob Lake, senior managing director of life sciences at Trinity Capital.
“We are confident in CMR’s vision and leadership, and our investment reflects our belief that Versius will continue to drive a new era in minimally invasive surgery.”
The funding round comes less than two years after it secured a £133m investment in September 2023.
UK Science Minister and champion of Britain’s Oxford Cambridge corridor ambitions, Lord Vallance, described the new round as “a clear vote of confidence in the company, the potential of surgical robotics, and in the UK’s life science ecosystem, which continues to produce innovative companies at an impressive rate”.
Vallance said: “We will continue to back world-class innovation and companies like CMR Surgical as they realise their global ambitions and support the creation of high-quality jobs in the UK.”
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