Ronovo Surgical Secures Nearly RMB 200 Million in Pre-B+ Financing Led by New Horizon Capital

Recently, Ronovo Surgical announced the completion of a Pre-B+ financing round of nearly RMB 200 million, led byNeurly CapitalLead Investor, New InvestorYipu CapitalCo-investment by all existing shareholders of the companyEli Lilly Asia Fund、OrbiMed、Matrix Partners China、GGV Capital、LRI Jiangyuan Investmentco-participated in this round of financing. The proceeds will be used for clinical trials and R&D for product registration, accelerating the commercialization and brand promotion of modular surgical robots.Haoyue Capital served as the exclusive financial advisor for this round of financing。

Following the completion of its Pre-B financing round in late 2022, Ronovo has once again secured investment recognition from both existing and new shareholders,Dr. John Ma, Founder and CEOstated: “We extend our sincere gratitude to Newland Capital and all existing shareholders for their trust and support in Ronovo, as well as to Haoyue Capital for its contributions to this financing round, which enabled the Pre-B+ round to be successfully completed with oversubscription.”

“In 2023, the company intensified its efforts to accelerate the promotion of Haishan I, a domestic first-of-its-kind product with fully independent intellectual property rights—”^®A Pivotal Year for the Commercialization of Laparoscopic Surgical Robot Systems. With the strong support and in-depth involvement of clinical experts both domestically and internationally, the Haishan-1, meticulously developed by the company’s R&D and clinical teams,^®"About to enter multi-specialty human clinical trials."Dr. John Ma, Founder and CEO of Ronovo"In addition, we will continue to build a team with full-industry-chain experience and an international perspective, remain steadfast in our original aspiration of serving doctors and patients through entrepreneurship, adhere to the strategy that innovation need not start with imitation, and firmly believe in the differentiated core values of modularity, configurability, and high compatibility. We once again express our sincere gratitude to both new and existing shareholders for their strong support and recognition."

Ronovo is an innovative pioneer in the field of laparoscopic surgical robots in China, dedicated to designing and developing innovative surgical robots that meet the actual clinical needs of Chinese surgeons. The company has assembled a team with extensive experience in the design, R&D, manufacturing, and commercialization of surgical robots. Its core team members have previously held positions at globally renowned medical device and robotics companies such as Intuitive Surgical, Auris Health, KUKA, Medtronic, Smith & Nephew, and Nurotron.

Haishan-1, China’s First Split Modular Surgical Robot with Fully In-House Developed Complete System and Independent Innovation^®On the verge of entering human clinical trials. Haishan Yi^®The design and development of the laparoscopic surgical robot fully take into account the actual clinical surgical needs of minimally invasive surgeons. With a modular, dexterous, and configurable solution, it not only reduces the economic burden of robot-assisted surgery (RAS), but also enhances surgeons’ operative experience, expands robotic surgery across multiple specialties, and promotes the widespread adoption of RAS.

“From its inception, the Ronovo team has placed special emphasis on integrating clinical practice with product development, adhering to the philosophy of clinically driven design. The ability to advance the product to the stage of human clinical trials within just two and a half years is inextricably linked to the Ronovo team’s outstanding clinical expertise, technical capabilities, and execution.”Dr. Mao Ying, Co-founder of RonovoSupplement: “The new round of financing will accelerate Haishan Yi^®"The clinical application of robots and their multi-specialty deployment have become the first choice for doctors and patients."

Regarding the investment in Ronovo, the lead investor of this roundMr. Lin Xianghong, Founding Partner of New Li Capitalstated: “First and foremost, driven by market demand, the practical value of laparoscopic surgical robots has been clinically validated in recent years. Ronovo Surgical possesses independently developed split modular technology. Compared with traditional integrated surgical robots, which are bulky and difficult to operate, the split design offers greater flexibility and efficiency, representing what we consider the optimal technological innovation. Furthermore, it delivers social value by accelerating the multi-specialty adoption of laparoscopic surgical robots, enabling physicians to benefit a larger patient population.”

Secondly, regarding the team, founder Dr. John Ma, Dr. Mao Ying, and multiple top industry experts hail from global companies such as Intuitive Surgical, Auris Health, Medtronic, Smith & Nephew, Nurotron, United Imaging, and KUKA. With decades of technological accumulation and industry experience, they align with our assessment of the capabilities of high-quality entrepreneurs in this sector.

“Finally, Newelli not only provides financial support to entrepreneurs but is also committed to helping Chinese medical device brands build their global presence, aligning with the long-term values of Ronovo Surgical.”

Mr. Zhang Jiang, Founder and CEO of LRI Jiangyuan Investment“Ronovo Surgical, a global leader in modular laparoscopic surgical robotics, has entered the clinical stage within just over two years of its establishment and possesses significant differentiated advantages. The company’s strong performance is attributable to the team’s extensive industrial experience in robotic system development and their profound understanding of clinical needs in China. Within approximately six months following our investment, Ronovo Surgical achieved multiple key milestones in system optimization, consumables development, second-product-line expansion, and clinical progress. We believe that, leveraging the team’s strengths in commercialization, Ronovo Surgical can create broader commercial value. We look forward to the company further contributing to the development of China’s surgical robotics industry and continuing to explore international expansion opportunities.”

Dr. Yi Shi, Founding Partner of Lilly Asia Ventures“Congratulations. After several years of development, Ronovo Surgical has rapidly emerged as a rising star in China’s laparoscopic surgical robotics sector and has begun to make its mark on the international stage. As the company enters the clinical phase, this financing will strongly support the acceleration of subsequent clinical development and regulatory registration of its products. We look forward to working closely with both new and existing shareholders to witness the many significant milestones the company will achieve in the coming year!”

Dr. Lu Hongbo, Managing Partner at Vivo Capitalstated: “Since its inception, Ronovo Surgical has remained committed to developing innovative surgical robotic platforms with independent intellectual property rights. It designs equipment and instruments tailored to the foundational infrastructure and affordability of China’s healthcare system, striving to further standardize surgical procedures, shorten training periods, and reduce surgeons’ physical burden. Wuwei Capital deeply understands and endorses Ronovo Surgical’s market and product development philosophy. We are profoundly impressed by Dr. John Ma, Dr. Mao Ying, and their team’s original intention to serve the Chinese market, as well as their outstanding execution capabilities and rapid product development speed. As an early investor, we welcome new investors joining us in supporting Ronovo Surgical and the development and global expansion of China’s surgical robotics industry.”

Sun Linghao, Managing Director at Matrix Partners Chinastated: “The founding team of Ronovo Surgical possesses comprehensive industrialization experience that is rare in the industry. As the lead investor in the Series A financing round, we have witnessed the team’s rapid growth and strong execution capabilities, with its products gaining high recognition from overseas experts. The company’s modular surgical robot platform features fully independent intellectual property rights and demonstrates a significantly differentiated positioning in clinical applications, indicating broad market prospects. We look forward to continuing our support as the company evolves into a next-generation surgical robot platform with global platform innovation and product influence.”

Mr. Yang Zhenjun, Managing Partner of Haoyue Capital“It is our honor to serve as the company’s exclusive financial advisor in facilitating this round of financing. As a leading technology in minimally invasive surgery, laparoscopic robotic systems continue to attract significant investor attention. Modular laparoscopic robots, representing an innovative technological pathway within this field, break through the limitations of integrated operating room setups and hold promise for surpassing the industry’s revenue ceilings. The core team at Ronovo Surgical demonstrates exceptional execution capability, completing product design and obtaining type testing reports within just ten months. The founder is the only individual in the industry with commercialization experience, having established a new pricing framework for laparoscopic robots and developed high-cost-performance products. We are highly optimistic about the company’s future development and believe that, with capital support, Ronovo Surgical is poised to overtake competitors and emerge as one of the leading enterprises in the laparoscopic robotics sector.”

Nuerli Capital is committed to building the only investment institution in the market that integrates three interconnected capabilities: fund-of-funds, direct investment, and secondary private equity investments, driven by a dual-engine model of onshore RMB and offshore USD. The firm focuses deeply on sectors including healthcare, semiconductors and intelligent manufacturing, new energy and carbon neutrality, and consumer technology, fostering mutual success with entrepreneurs and empowering Chinese enterprises in their global expansion.

LRI Jiangyuan Investments (LongRiver Investments) was founded in 2022 by renowned investor Mr. Zhang Jiang. Its inaugural fund achieved a first close of over USD 300 million, with core investors comprising major international institutions and specialized long-term funds. The team primarily focuses on investments in technological innovation sectors such as healthcare, information technology, and advanced manufacturing, covering stages from early to late-stage.

LRI Jiangyuan Investment’s founding team members have worked together for many years, possessing extensive experience in fund operations and technology investment. Over the past decade, the team has raised multiple USD and RMB funds, investing in more than 40 healthcare and technology companies worldwide, with nearly 20 of them listed on domestic and international stock exchanges.

LRI Jiangyuan Investment’s comprehensive capabilities—“ability to identify, understand, support, and exit”—are underpinned by the investment and management expertise of a large insurance group, deep R&D and operational accumulation in the technology sector, and the ability to leverage global resources. Looking ahead, LRI Jiangyuan Investment will continue to focus on the technology sector, integrate new drivers of global industrial development, and help cultivate the next generation of industry leaders.

Lilly Asia Ventures is a leading biomedical venture capital firm founded in 2008, with offices in Shanghai, Hong Kong, and Silicon Valley. Its vision is to become a trusted partner for outstanding entrepreneurs in the life sciences sector, co-building great companies and developing breakthrough products that treat diseases and improve human health.

Vivo Capital, established in 1996, is a global leading healthcare investment firm dedicated to strategic empowerment and resource integration through ecosystem strategies. Vivo Capital operates multi-fund investment platforms across venture capital, growth private equity, control buyouts, and public markets. It manages a total of 14 USD and RMB funds, with assets under management reaching $6.4 billion, and has invested in over 300 companies worldwide. All of its funds broadly invest in the healthcare sector, including biotechnology, pharmaceuticals, medical devices, and healthcare services, with a particular focus on the world’s largest healthcare markets. Vivo Capital boasts a team of more than 50 professionals. Headquartered in Palo Alto, California, it maintains offices in Beijing, Shanghai, Hong Kong, Taipei, and Singapore.

Matrix Partners China, founded in 2008, focuses on early- to mid-stage investments, with a particular emphasis on early-stage technological innovation companies in the domestic Chinese market. As one of China’s premier venture capital firms, Matrix primarily concentrates on new technologies, hard tech, frontier technologies, industrial digitalization, healthcare, and new consumption. To date, it has invested in over 800 companies, including Li Auto, XPeng Motors, Ele.me, Ronbay Technology, XGIMI Technologies, and Hithium Energy Storage.

Haoyue Capital, established in January 2014, is a leading industry-focused investment bank in China specializing in the healthcare sector. Headquartered in Shanghai, the firm maintains regional offices in Beijing and Shenzhen. Committed to empowering clients through capital solutions and research-driven insights, Haoyue Capital facilitates successful access to the capital markets for outstanding enterprises in China’s healthcare industry, thereby creating value-added benefits for its clients. The partnership team comprises senior investment bankers with extensive experience in China’s healthcare sector, supported by a professional team of over 70 members. Haoyue Capital closely monitors dynamics and trends in the healthcare investment market, with its research and transaction coverage spanning multiple sub-sectors, including innovative pharmaceuticals, innovative medical devices, IVD and life sciences, health services, and smart healthcare.

As of 2022, Haoyue Capital had completed over 300 projects, with a cumulative transaction value exceeding USD 10 billion; among these, it executed more than 50 mergers, acquisitions, and restructuring deals, totaling over USD 5 billion. In 2022 alone, Haoyue Capital closed more than 50 complex transactions involving private equity financing, M&A integration, and spin-offs of listed companies, with a total transaction value amounting to several billion USD, thereby maintaining its comprehensive leadership across various sub-sectors of the healthcare industry.