The record European medtech financing was backed by new US investors and existing partners including LGT and Cambridge Innovation Capital.
"We are pleased to welcome new US investors whose calibre and scale are reflective of the scale of CMR's mission to transform surgery. I would also like to thank our existing investors for their long-term commitment in supporting this company to achieve its global mission. The significant capital injection in a UK scale-up reconfirms my belief that the Cambridge eco system has fostered a unique pool of diverse talents and competencies that will help drive our innovation in the years ahead. With new and existing investors onboard, CMR is well-placed to make surgical robotics accessible for all."
The InsurTech company has secured backing from e.ventures and Octopus Ventures to expand its product offerings and technical capabilities.
"We’re delighted e.ventures have joined Octopus Ventures in backing our vision. There’s real momentum behind genuinely disruptive insurance propositions, but we see the opportunity for a much broader platform creating different death services, as well as disrupting the world of insurance. Distribution is key for us, we began life as a direct-to-consumer proposition but there’s a big opportunity for us to distribute our products through other brands. We’re pleased to have proved that our product serves the market and now we’re focusing on scaling the business. This funding will help us to expand our technology and create additional products including digital wills, accidental death and critical illness cover. We’re also able to grow our team and relocate to bigger business premises."
The funding round was led by UCL Technology Fund, Parkwalk, and Innovate UK to support sensor development and clinical trials.
"Coronary heart disease is endemic worldwide but far too often the decision to implant a stent is based on sub-optimal information. Our technology addresses the ‘grey zone’ of patients where the requirement for a stent is currently difficult to determine. By using advanced optical sensing technology, we hope to significantly improve the accuracy of current treatments, saving healthcare costs and preventing unnecessary operations for patients that could be treated with medicines."
Committed Capital and Mercia led the Series A round to support the rollout of new software products.
"The funding will allow us to pursue our strategy to produce a fully integrated software as a service (SaaS) solution. The new software will provide hyper-accurate digital maps of complex spaces, allowing indoor and outdoor navigation and intelligent real-time location. It will open up new possibilities for use in smart cities, asset management, and industrial platforms."
Unilever Ventures led the £1.9m Series A round, which will fund UK expansion and European launch preparations.
"This has been a key growth round for us in preparation of larger Series B in 2020, so we are delighted to have returned to Seedrs, welcome back our existing supporters, and pick up some new ones along the way."
