Cambridge Medical Robotics Ltd, a Cambridge, UK-based private company developing a robotic system for universal minimal access surgery, secured $20.3m in a Series A funding round.
Investors included ABB Technology Ventures, LGT Global Invest and Cambridge Innovation Capital. In conjunction with the funding, Dr Robert Tansley of CIC, Massimo Muzzi of ABB and Egor Kulkov of existing investor Escala Capital joined CMR’s Board of Directors.
Led by Martin Frost, CEO, and Reynir Indahl, Chairman, CMR develops a universal robotic system for minimal access surgery.
Following the start of clinical cadaveric trials in June 2016, the company intends to use the funds to progress development and commercialization of its medical robotic technology, and to expand the team in preparation for regulatory approval.