Cambridge Medical Robotics Ltd, a Cambridge, UK-based developer of a robotic system for universal minimal access surgery, closed its Series A funding round, raising a further $26m.
Backers included existing investors Cambridge Innovation Capital, LGT Global Invest, Escala Capital and ABB Technology Ventures, and new investor Watrium. Together with the first tranche in July 2016, the Series A round has raised $46m in total.
The company will use the funds to progress its versatile surgical robotic system, Versius®, through ongoing validation studies and to start production of further systems.
Led by Martin Frost, CEO, Cambridge Medical Robotics develops the next-generation universal robotic system, Versius®, for minimal access surgery. Designed to meet the complex requirements of laparoscopic surgery, Versius is a four-axis wrist joint incorporated within all the robotic arms. This compact joint mimics the dexterity of the human wrist to hold a surgical instrument in the same way as a surgeon. The system can be used across a wide range of minimal access procedures whilst retaining its compact and portable form.
The company, which recently completed the latest set of cadaveric trials, demonstrating the ability of its Versius system to perform upper GI, gynaecological, colorectal and renal surgery, will now progress further pre-clinical studies in support of anticipated regulatory approval and commercialization.