CMR Surgical raises £195m in Series C financing to scale commercialisation of its surgical robot
The record European medtech financing was backed by new US investors and existing partners including LGT and Cambridge Innovation Capital.
CMR Surgical develops the Versius Surgical Robotic System, a widely adopted soft tissue surgical robot used in tens of thousands of procedures worldwide. Headquartered in Cambridge, the company works to make robotic minimal access surgery more accessible.
CMR Surgical has secured £195m in Series C financing to accelerate the global commercialisation of its Versius surgical robotic system. The funding round marks Europe's largest private financing in the medical technology sector to date. The capital injection was supported by a syndicate of existing backers and new US investors.
The proceeds will fund the upcoming launch of the technology across European and Asian hospitals, alongside continued research and development and manufacturing operations. The company recently completed thirty first-in-human surgical procedures as part of an ongoing clinical trial.
From the founder
"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."
Erik Langaker
Chairman at CMR Surgical
Investor perspective
"CMR Surgical has significant potential to make a real impact on the surgical robotics market. As an existing investor, we are confident that the Company will disrupt the status quo and transform surgery for millions of people worldwide. CMR Surgical is one example of how LGT invests in innovative tech companies that develop groundbreaking solutions to sustainably improve quality of life for a large number of people."
Umur Hursever
Partner, LGT
Use of funds
- 01Expand into international markets
- 02Fund research and development
- 03Scale operations
Investors
Umur Hursever
LGT
Escala Capital Investments
Cambridge Innovation Capital
Watrium
Zhejiang Silk Road Fund
Categories
About the company
CMR Surgical
CMR Surgical manufactures the Versius system for robotic minimal access surgery.