Cornerstone Robotics Secures RMB 800 Million in New Funding to Accelerate Global Expansion of High-Quality Chinese Surgical Robots

VCBeat has learned that on June 30, Cornerstone Robotics, a leader in China’s innovative surgical robotics industry, announced the completion of a new round of financing amounting to RMB 800 million, receiving strong recognition and support from multiple professional investment institutions. This round introduced several top-tier industry investors, including BridgeOne Technology Investment and LCIG (Lenovo Capital and Incubator Group), and saw additional investments from existing shareholders such as China Tsing Song Investment Ltd, Meituan Dragon Ball, Qiming Venture Partners, Lilly Asia Ventures, New World Development Group, and Xianfeng K2VC. The funds will be used to accelerate the company’s R&D of new surgical robotic products, clinical trials, regulatory approval and market launch, as well as global promotion.

Cornerstone Robotics was founded in September 2019 by a founding team comprising world-leading experts in medical surgical robotics with decades of industry experience. The company is committed to building a safe and efficient surgical robotics platform. It has established its underlying technology and industrialization platforms, achieving independent and controllable R&D in core technologies such as mechanical architecture, electrical architecture, software architecture, complex algorithms, and visual imaging systems. This has enabled a multi-pipeline layout for soft-tissue surgical robots and other major specialized surgical robots. In 2022, Cornerstone Robotics made significant progress, becoming the first innovative surgical robotics company in China to conduct clinical trials in international markets on a global scale.

Independent innovation is the core driving force behind Cornerstone Robotics’ rapid development. Within three years, the company successfully overcame key technical challenges and achieved breakthroughs in the development of high-quality surgical robot products. Its independently developed multi-port laparoscopic surgical robot has successfully completed animal trials in urology, as well as multiple cases of highly complex human clinical trials in urology and general surgery. The system’s exceptional performance—characterized by smooth operation, precise control, realistic visualization, and superior functionality—has garnered high acclaim from numerous leading clinical experts both domestically and internationally. By combining usability with accessibility, it has secured a leading position in China’s technological landscape. Currently, the company’s first-generation laparoscopic surgical robot has entered the human clinical trial phase and will pursue medical device regulatory approvals globally. It is expected to receive market authorization in stages, thereby serving healthcare professionals worldwide and benefiting a broader patient population.

Seizing the High Ground in Technological Competition: Cornerstone Robotics’ Core Strengths Draw Widespread AttentionIn 2022, as an outstanding Hong Kong sci-tech innovation enterprise, Cornerstone Robotics participated in the exhibition celebrating the 25th anniversary of Hong Kong’s return to China. The company was inspected by national leaders and featured on CCTV News. Recently, senior officials from the Hong Kong and Macao Affairs Office of the State Council and Shenzhen Municipality visited the InnoHK Centre for Medical Robotics Innovation, where they test-drove and experienced Cornerstone Robotics’ surgical robot system. The company’s top-tier expert team and robust product capabilities received high praise from these leaders. The InnoHK Centre for Medical Robotics Innovation is a world-class research laboratory, with Professor Ou Guowei, founder of Cornerstone Robotics, serving as its Co-Chairman. At this centre, Cornerstone Robotics has successfully completed multiple animal and cadaveric experiments and has smoothly initiated clinical applications at Prince of Wales Hospital. Meanwhile, leveraging its independent innovation capabilities, industrial translation capacity, and future development potential, Cornerstone Robotics has won numerous accolades, including “Deloitte China Technology Fast 50 Rising Stars 2022,” “Cyzone 100 Future Unicorns 2022,” “36Kr WISE 2022 King of New Economy Enterprise of the Year,” and rankings in both the “China Innovative Medical Devices List” and the “Value Sector List” of the “2022 Future Healthcare 100.” These achievements have garnered widespread recognition from all sectors of society.

Global Business Deployment: Cornerstone Robotics Unwaveringly Infuses Chinese Strength into the Global Market. Currently, the company has established branches in Shenzhen, Hong Kong, and Beijing, China, as well as in the United States. It operates three R&D centers worldwide and has built a mass production facility in Shenzhen. While refining products with greater international competitiveness, the company continues to expand its global exchanges and promotional efforts. Committed to becoming a world-class innovative surgical robotics enterprise, it aims to benefit more patients and healthcare providers with high-end medical devices, enhance the accessibility of quality healthcare services in China and globally, and create greater value for the healthcare industry.

According to statistics, the global surgical robot market is projected to reach USD 28.51 billion in 2025, with a compound annual growth rate (CAGR) of 27.1% from 2021 to 2025; by 2030, the global surgical robot market will reach USD 61.90 billion. With the rapid development of minimally invasive surgical techniques, the surgical robot market holds immense growth potential. As a leader in China's innovative surgical robot industry, Cornerstone Robotics has successfully built a comprehensive underlying technology platform with high barriers to entry. Since its inception, Cornerstone Robotics has focused on the global market, leveraging its robust technical strength to fully implement an internationalization strategy, develop surgical robot products with strong international competitiveness, and provide high-quality Chinese solutions to the world.

BridgeOne Technology InvestmentBridgeOne stated: “The BridgeOne team has deeply cultivated investments in the smart healthcare sector, closely monitoring and studying the surgical robotics field for nearly a decade, and maintains strong confidence in the Cornerstone Robotics team. Adhering to comprehensive independent innovation, Cornerstone Robotics is committed to its mission of providing safe, reliable, intelligent, and universally accessible surgical robotic products to physicians and patients. In just three years, leveraging the first principles of surgery, the Cornerstone Robotics team independently defined, developed, and achieved mass production of both software and hardware platforms as well as all core components for surgical robots. This achievement has broken foreign technological monopolies and demonstrated exceptional capabilities in foundational R&D and commercial execution. From its inception, Cornerstone Robotics has possessed top-tier international DNA. Based in the Guangdong-Hong Kong-Macao Greater Bay Area, the company has assembled a global professional team targeting worldwide markets. By collaborating diligently with leading surgeons domestically and internationally, it has established a high-level system for translating and realizing clinical needs. BridgeOne believes that Cornerstone Robotics will undoubtedly provide high-quality surgical robotic platforms and services to surgeons worldwide, benefiting patients globally, ensuring peace of mind in surgery, and expanding the horizons of life.”

He Zhiqiang, Senior Vice President of Lenovo Group and President of Lenovo Capital and Incubator Group“He stated, ‘Medical robots often have more stringent requirements regarding size, safety, and sterilization/cleaning. Meanwhile, effective cost control is essential to achieve large-scale adoption. Currently, medical robots, particularly surgical robots, are widely used only in the United States, while the domestic market remains largely underserved, presenting significant industrial potential. Cornerstone Robotics has a very clear development strategy: by independently developing foundational robotic technologies and building a core technology platform, it aims to develop surgical robots for various specialties, addressing diverse clinical needs in different surgical procedures. This approach will foster an ecosystem that further expands the application scenarios of medical robots. LCIG has long focused on leveraging digitalization to empower industrial upgrading. Moving forward, we look forward to collaborating with Cornerstone Robotics for mutual benefit, promoting the healthy development of the medical robotics industry. We believe that, backed by its strong technical capabilities and robust growth potential, Cornerstone Robotics will create greater value in high-end surgical robot products and services in China and globally, benefiting more clinicians and patients.’”

Professor Guowei Ou, Founder of Cornerstone RoboticsHe stated: “We extend our heartfelt gratitude to both new and existing shareholders for their strong trust and support in Cornerstone Robotics. We also thank all members of the Cornerstone Robotics team for their relentless pursuit of advancements in healthcare and their steadfast commitment to our shared corporate vision. Cornerstone Robotics remains dedicated to building a safe and efficient surgical robotics platform, focusing on clinical needs and translational applications, upholding independent R&D and innovation, and establishing a core-competitive foundational technology platform. This foundation will enable us to address diverse clinical demands across various surgical specialties in the future, allowing more patients and healthcare providers to benefit from high-end medical devices. Over the past three and a half years, we have witnessed our team grow from a dozen individuals to hundreds, and seen Cornerstone Robotics establish a global business presence across four locations, with three major R&D centers and mass-production facilities. Our independently developed laparoscopic surgical robot has garnered high recognition from leading clinical experts both domestically and internationally. Looking ahead, Cornerstone Robotics will continue to focus on breakthrough innovations, accelerating the R&D, clinical trials, and commercial launch of new products, thereby promoting the widespread availability of high-quality medical services and enabling patients and healthcare providers worldwide to benefit from China’s advanced medical technologies.”

In the current tide of global development, only innovators advance, only innovators grow strong, and only innovators prevail. Through over three years of enduring hardships, Cornerstone Robotics has remained steadfast in its commitment to independent innovation and self-driven R&D, overcoming numerous challenges to fully master the core technologies of high-end surgical robots. Upholding its original aspiration to “lay the cornerstone for China’s surgical robot industry,” Cornerstone Robotics will continue to explore, reflect, and create, enabling patients worldwide to share in China’s advanced medical technology, ensuring peace of mind in surgery, and expanding the horizons of life.

BridgeOne Technology Investment, founded in the Guangdong-Hong Kong-Macao Greater Bay Area, is a venture capital firm focused on the global technology industry, with key investments in smart healthcare, clean energy, and artificial intelligence. The company’s team comprises global scientists, long-term value investors, entrepreneurs, and founders, dedicated to helping scientists and world-class entrepreneurs realize their industrial visions. With years of deep engagement in the smart healthcare sector, BridgeOne Technology Investment has accumulated extensive industry chain expertise and maintains a global academic perspective, establishing a strategic investment footprint in areas such as in vitro diagnostics and precision medicine, surgical procedures and consumables, gene technology, and healthcare services. Since its establishment, BridgeOne has consistently monitored technological advancements in artificial intelligence, investing in multiple robotics and intelligent application enterprises. The firm firmly believes that progress in intelligent algorithmic models and robotics will deliver substantial value to the healthcare industry and human health.

Lenovo Capital and Incubator Group (LCIG), established in 2016 as Lenovo’s global technology industry fund, aims to leverage Lenovo’s global resources to shape the future of technology through investment and incubation. LCIG focuses on technology sector investments, with key areas including IoT, edge computing, cloud computing, big data, artificial intelligence, AI-plus-industry applications, and consumption upgrades. To date, LCIG has invested in over 230 outstanding companies and holds more than ten subsidiaries and innovative business units, such as SHAREit, Anxiang Smart Healthcare, and Lenovo DONG Telecom. By adopting an innovative CVC 2.0 model, LCIG fully leverages Lenovo’s global brand, distribution channels, and supply chain advantages to bridge business collaboration between portfolio companies and Lenovo Group. This approach effectively facilitates the industrial application of cutting-edge technologies, fostering an ecosystem of complementary strengths, close synergy, and mutual success.

Tsing Song Capital is a startup-focused private equity investment firm specializing in biotechnology and healthcare. Its management team possesses extensive industry experience in healthcare and private equity investment. Tsing Song Capital is committed to growing alongside the most innovative biomedical enterprises, driving technological and commercial innovation in China’s life sciences and healthcare sectors. Adhering to a research-driven investment approach, the firm deeply engages in the development of its portfolio companies, focusing on biotechnology, pharmaceuticals, medical devices, innovative healthcare services, and the intersection of the broader health industry with frontier technologies. Since its inception, the fund has completed investments in multiple star projects across various niche sectors.

Meituan Longzhu, established in 2017, currently manages multiple RMB and USD funds. Committed to becoming a key supporter behind the most outstanding entrepreneurs in the consumer and technology sectors, Meituan Longzhu aims to make the world a better place through investment. Leveraging the Meituan ecosystem, its investment philosophy aligns with Meituan’s business principles: identifying major opportunities ahead of the market through in-depth research, and making significant long-term investments in winners based on rigorous project assessment.

Qiming Venture Partners was established in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages 11 US dollar funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, the firm has focused on investing in outstanding early- and growth-stage enterprises in the Technology and Consumer (T&C) and Healthcare sectors. To date, Qiming Venture Partners has invested in more than 530 high-growth innovative companies, among which over 200 have achieved exits through listings on exchanges such as the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Taipei Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, as well as through mergers and acquisitions. More than 70 of these portfolio companies have become industry-recognized unicorns and super unicorns.

Lilly Asia Ventures (LAV) is a premier venture capital fund dedicated to investing in the life sciences and healthcare sectors. Headquartered in Shanghai, China, with offices in Hong Kong, China, and Silicon Valley, USA, our long-term vision is to build great companies that conquer diseases and improve human health through breakthrough products, and to be a trusted partner for outstanding entrepreneurs seeking smart capital.

New World Development Company Limited (00017.HK) operates in property development and investment, highway operations, business aircraft leasing, construction, insurance, hotels, healthcare services, and other sectors. Dr. Adrian Cheng is the driving force behind the New World Group and Chow Tai Fook Group. He has maintained a strong focus on the healthcare sector, with representative investments including domestic and international biopharmaceutical projects such as Alphamab Oncology, Athenex, Keymed Biosciences, Extreme Vision Biotech, Biomatics, 3D Medicines, Transcenta Holding, and Cothera, as well as healthcare service projects such as WeDoctor, Sanbo Brain Hospital, and New Century Children’s Hospital.

K2VC was founded in 2010 as one of China’s earliest institutional angel investment funds. It manages dual-currency funds in RMB and USD and has invested in over 600 high-growth startups. Its affiliate, K2 Changqing, focuses on industrial angel investments, covering sectors such as new energy, technological innovation, advanced manufacturing, industrial digitalization, and the new economy. K2 Qiyun concentrates on investments in healthcare, systematically laying out a portfolio in innovative drugs and medical devices, and has nurtured multiple leading enterprises in various niche segments.