On Saturday, Shenzhen-based surgical robot platform Edge Medical Robotics Co., Ltd. announced the completion of C-Round financing in which it secured over $200 million. Its lead investor in this round is Boyu Capital, while co-leading investors are Temasek and Sequoia China. Existing investors such as 3H Health Investment, LYFE Capital and Guoce Capital also participated in this round.
The firm’s co-investors include famous companies such as the Chinese State-Owned Enterprises Mixed-Ownership Reform Fund, OrbiMed, Firstred Capital, Greater Bay Area Development Fund, Octagon Capital, Sage Partners, Lingang Blue Bay Capital, and Mirae Asset Group.
Dr. Wang Jianchen, founder of Edge Medical Robotics, said that the new funds are for business upgrades in an all-round way and the rapid commercialization of core products, such as the deep expansion of product R&D, construction of large-scale production bases and training centers, and comprehensive commercial layout.
Edge Medical Robotics was founded in Shenzhen on May 4, 2017 by two doctors who graduated from the Massachusetts Institute of Technology and Harvard University. It is committed to providing innovative solutions for futuristic surgery, and now offers technologies such as multi-hole surgical robots and single-hole surgical robots. The company has applied for and been granted more than 400 patents.\
With years of research and accumulation, Edge Medical Robotics says its team has independently mastered all core technologies such as structural design, system control, motion algorithm and AI algorithm involved in surgical robots, and has worked on many product pipelines such as porous surgical robots, single-hole surgical robots, natural cavity surgical robots and high-end medical devices in an all-round way.
Sequoia China said the surgical robots in China are all imports. In addition, data released by Frost & Sullivan suggest the da Vinci surgical system by Intuitive Surgical, Inc., which now dominates the market of surgical robots in the world, is priced at about 30 million yuan in China. The surgical robots made by Edge Medical Robotics is likely to reduce the cost and benefit patients, doctors and hospitals.