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CMR Surgical, a global surgical robotics company, raised $ 600 million (425 million) in Series D funding. The round was led by SoftBank Vision Fund 2 and co-led by Ally Bridge Group and will support the goal company to make keyhole surgery accessible to more people around the world.
The funds will be used to increase the global commercialization of Versius, the CMR surgical robotic system, and further develop its digital ecosystem.
CMR works with surgeons and hospitals to provide an optimal tool to make robotic keyhole surgery universally accessible and affordable. As part of CMR’s continued international expansion, Versius has been successfully launched in various geographic areas around the world, including Europe, Australia, India and the Middle East.
The D Series secures the funding to fully implement the CMR strategy to rapidly accelerate its geographic expansion and builds on the structure the company has established to grow a long-term independent global business. The new funds also support the ongoing development of the digital systems framework, including new technology developments such as Versius Connect, an app for surgeons using the Versius surgical robotic system.
In addition to SoftBank Vision Fund 2 and Ally Bridge Group, the loan was supported by other new international investors including RPMI Railpen, Tencent and Chimera, expanding the geographic scope of the share base. Existing investors also participated in the round, including LGT and its affiliated impact investment platform Lightrock, Watrium, Cambridge Innovation Capital, PFM Health Sciences and GE Healthcare.
Per Vegard Nerseth, Chief Executive Officer of CMR, said: This latest funding provides CMR with significant funds to accelerate our mission to bring Versius to hospitals around the world while providing maximum flexibility to achieve our goals. This major capital injection which now values us at $ 3 billion reflects not only the level of interest we have found in our product, but also the scale of the business and will enable significant technological developments and global expansion. As a lead investor, SoftBank has extensive experience in supporting disruptive business models and innovative technologies and we look forward to leveraging their expertise and vast ecosystem. I would also like to thank our current investors for their long-term support.
Yanni Pipilis, managing partner of SoftBank Investment Advisers, added: The demand for minimally invasive robotic surgery is growing rapidly among surgeons and patients, but high costs have historically hindered adoption. CMR Surgical is transforming surgical robotics to convert open and underpenetrated laparoscopic procedures into new international markets where robotic surgeries are less common, such as India, the Middle East and Latin America. We look forward to working with CMR on its mission to make robotic keyhole surgery available to everyone. “
Charles Chon, partner and head of medtech, Ally Bridge Group, said: As dedicated life sciences specialists and active investors in surgical robotics, we believe the ease of use and affordability of the Versius system enables an experience significantly differentiated robotics that democratizes robotic surgery both procedurally and geographically. We are proud to support CMR as a hallmark of innovation in the UK and a solution for all surgeons and their patients.
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