OrthoBot Developer Xinjunte Secures Hundreds of Millions in Series B Funding, Files for IPO

VCBeat has learned that Futurtec, an innovative domestic platform for orthopedic surgical robots, recently completed a Series B financing round amounting to hundreds of millions of RMB. The round was co-led by SoftBank Vision Fund 2, Huatai Zijin (Jiangsu) Equity Investment Fund, and Innovation Works, with follow-on investments from ABC International and existing shareholder Morningside Venture Capital. Hywin Capital once again served as the exclusive financial advisor.

Shenzhen Futurtec Medical Co., Ltd., established in 2015, is a National High-Tech Enterprise. The company is dedicated to building China’s most intelligent R&D and innovation platform for orthopedic surgical robots, achieving an organic integration of “Robotics + AI.”

The company is composed of an international team with extensive industry experience and innovative capabilities, boasting a solid technological foundation and deep industry expertise in the fields of orthopedic surgical robots, medical imaging, and medical artificial intelligence.

Mr. Jiang Liwei, the Chairman, formerly served as a physician at Shanghai Ruijin Hospital. After leaving the hospital system, he successively held senior executive positions at global orthopedic giants Zimmer and Smith & Nephew, served as General Manager of Chuangsheng Holdings, a leading domestic orthopedic company, and as General Manager of Biomet China. He also acted as CEO and Executive Director of Puhua Heshun, a company listed on the Main Board of the Hong Kong Stock Exchange, thereby accumulating extensive industry expertise. The core R&D team possesses interdisciplinary backgrounds integrating medicine and engineering, and is supported by top-tier orthopedic experts in China, providing robust assurance for product innovation, refinement, and subsequent commercialization.

Futurtec has deeply deployed a comprehensive solution for orthopedic robotics. Its core product, ORTHBOT, is the first fully intelligent spinal surgery robot independently developed in China with active needle insertion capabilities, and it obtained NMPA registration certification earlier this year. Compared to robots that offer only navigation and positioning, ORTHBOT integrates both navigation/positioning and surgical execution, making it a true orthopedic surgical robot. In addition, the osteotomy module (a global first) and joint replacement surgery robots are under accelerated development. The company has strategically laid out core patents globally, establishing a competitive moat for its globalization efforts. To date, it has filed 55 patent applications, of which 22 have been granted (including one U.S. invention patent), with 15 PCT international applications.

Futurtec ORTHBOT Orthopedic Surgical Robot

In recent years, orthopedic surgical robots have become the hottest topic in the global field of orthopedics. Overseas giants, including Medtronic, Johnson & Johnson, Stryker, and Zimmer Biomet, are investing heavily in acquiring orthopedic robotics companies. In China, the volume of orthopedic surgeries is growing rapidly. It is estimated that by 2021, the annual number of joint replacement surgeries in China will approach one million, while spinal surgeries will near 800,000, with both continuing to maintain double-digit growth rates. As volume-based procurement sweeps across the domestic market, accelerating the reshuffling of the orthopedic industry, the development of the orthopedic surgical robot sector—which is exempt from such centralized procurement—has become an inevitable trend. The orthopedic robotics market, with a scale exceeding RMB 10 billion, has emerged as the next blue ocean market.

Mr. Jiang Liwei, Chairman of FuturtecIt was stated that intelligence, digitalization, and minimally invasive techniques have become the trends in the future development of surgery, and Futurtec has aligned with this development trend. The company boasts an independent R&D team and has independently developed multiple proprietary technologies for surgical robots, effectively addressing clinical pain points and substantially improving surgical efficiency. Futurtec will continue to focus on innovation and building an excellent team to launch more high-quality products serving doctors and patients.

Dr. Chen Xun, Managing Partner of SoftBank Vision Fund“We firmly believe that advanced technologies, represented by robotics, are poised to bring about significant transformation to the healthcare industry. Powered by artificial intelligence, Futurtec’s end-to-end precise spinal surgery platform and robotic systems can assist physicians in performing minimally invasive procedures with greater precision and efficiency. We look forward to collaborating with the Futurtec team led by Mr. Jiang Liwei, supporting their efforts to deliver better treatment experiences and outcomes for patients through innovative robotic technology. This investment in Futurtec also serves as the latest example of our continued commitment to supporting the development of China’s technology sector.”

Zhang Quanyuan, Managing Director of Huatai Zijin and Head of Healthcare InvestmentMr. Jiang stated that with the widespread adoption of robotic surgery in China in recent years, surgical procedures have become increasingly intelligent and minimally invasive. Futurtec’s spinal robot not only features navigation capabilities but also executes surgical procedures according to surgeons’ instructions, thereby achieving true surgeon-controlled robotic surgery. As a technology-driven robotic platform company, Futurtec has developed products covering spinal osteotomy, orthopedic trauma, and joint replacement. Guided by clinical needs, its product design demonstrates strong technological foresight. Chairman Jiang Liwei has deep expertise in the orthopedics industry, possessing extensive experience in industrial management and industry consolidation. We are optimistic about the company’s future development and look forward to its growth into a world-leading provider of surgical robots through rapid internal expansion and deep industry integration, ultimately benefiting patients worldwide.

Mr. Wu Kai, Partner at Sinovation VenturesIt was stated that after several years of market cultivation, orthopedic surgical robots have ushered in a surge of policy benefits this year. Beijing officially included them in the medical insurance scheme in October this year, and provinces across China have successively added them to their fee schedules. The annual volume of orthopedic robotic surgeries is expected to exceed 500,000 cases in 2026, with the cumulative installed base projected to reach 2,000 units. Led by Chairman Jiang Liwei, Futurtec’s core executive team boasts extensive industry experience, strong capabilities in product innovation and R&D, and a global perspective. Within a short period, the company secured the second Class III medical device certificate for orthopedic surgical robots in China. In the future, Futurtec aims to achieve comprehensive product coverage in the orthopedic surgical robot sector and possesses the capability to expand into fields such as dentistry and neurosurgery. We firmly believe that with Futurtec’s inherent strengths combined with the powerful empowerment from Innovation Works in areas such as artificial intelligence and automation, the company has the opportunity to become a leading enterprise in the surgical robot industry in China and even worldwide.

Mr. Wan Zhicheng, Director of ABC InternationalIt was stated that with the continuous aging of the population in China and the improvement of living standards, residents' demand for the treatment and management of cardiovascular and cerebrovascular diseases, orthopedic conditions, and chronic diseases will increase year by year. Given the current imbalance in the allocation of medical resources and the level of medical technology development across different regions in China, empowering traditional healthcare with technological means to improve overall societal medical efficiency will become an inevitable trend. The management team of Futurtec possesses a background combining medicine and engineering as well as an international perspective, and its product research and development are forward-looking. We look forward to Futurtec growing into a leading medical technology company in the future.

Mr. Zhang Shuli, Morningside Venture CapitalIt was stated that surgical robots serve as a platform-based solution for precision orthopedics and digital orthopedics. In recent years, orthopedic surgical robots have become increasingly mature in terms of technology, clinical acceptance, and business models. Futurtec possesses the most advanced technological solutions and the most seasoned commercialization team in this field. With the support of both new and existing investors, the company is poised to accelerate its development, enabling its technologies and products to benefit more patients at an earlier stage.

Mr. Yang Zhenjun, Partner at Haoyue CapitalIt was stated that the orthopedic robotics market has gradually transitioned from the introduction phase to the growth phase, with companies such as Futurtec officially entering their first year of sales. Futurtec’s core products possess multiple competitive advantages, backed by extensive sales and operational experience. Furthermore, Futurtec’s business model forms a closed loop through “robotics sales + consumables sales + maintenance services,” providing sustainable growth momentum. With capital support, it is believed that Futurtec will accelerate commercial implementation, vigorously expand its nationwide distribution network, and enrich and extend its product portfolio through both organic growth and strategic expansions, thereby becoming a leading brand in orthopedic surgical robotics in China and even globally at an early date!

SoftBank Vision Fund is committed to accelerating the global artificial intelligence (AI) revolution by investing in industry-leading, technology-driven growth companies. Its investment portfolio spans multiple sectors, including consumer internet, enterprise services, fintech, healthcare, frontier technologies, real estate, transportation and logistics, and education. In China, SoftBank Vision Fund I and II have collectively invested in more than 27 industry-leading enterprises.

Huatai Zijin is a wholly-owned subsidiary of Huatai Securities (601688.SH) engaged in private equity investment. Leveraging the full business chain advantages of Huatai Securities and adhering to the investment philosophy of “growing together with entrepreneurs,” the company provides comprehensive capital services to partners by utilizing its abundant financial and industrial resources. With a registered capital of RMB 6 billion and assets under management exceeding RMB 50 billion, Huatai Zijin manages multiple funds, including PE, M&A, FOF, and industry-specific funds. Adhering to its industry positioning and grounded in robust industry research, Huatai Zijin has deeply cultivated strategic emerging sectors such as healthcare and TMT, accumulating extensive industry experience and resources. Its healthcare investment portfolio includes Mindray Medical (300760), WuXi AppTec (603259.SH/2359.HK), RemeGen (9995.HK), Getein Biotech (603387), BrightGene Bio-Medical Technology (688166), Addgene Pharma (688488), Shuoshi Biology (688399), Shuyu Civilian Pharmacy (301017), Pumen Technology (688389), HeartFlow Medical (2160.HK), Genetron Health, Yimeier, and Happy Dentistry, among others. By fully leveraging the capital operation advantages of the securities firm ecosystem, the company has facilitated the successful listing of numerous enterprises on the A-share and H-share markets and provided comprehensive support to industry leaders, thereby establishing industry-leading capabilities in industrial investment and mergers and acquisitions.

Innovation Works is a technology-focused venture capital firm founded by Dr. Kai-Fu Lee in September 2009. It aims to help young Chinese entrepreneurs build world-class companies through comprehensive startup services and manages dual-currency funds with total assets under management of approximately RMB 17.5 billion. As a leading international service-oriented venture capital firm, Innovation Works primarily focuses on artificial intelligence and hard tech, robotics and automation, chips/semiconductors, enterprise software, healthcare, and other sectors, concentrating on early- to mid-stage high-growth technology enterprises. To date, it has participated in the investment of approximately 400 projects, nurturing more than 20 unicorn companies. Innovation Works pioneered the “technology investment + artificial intelligence” model and established the AI Engineering Institute in September 2016, with Dr. Kai-Fu Lee serving as its dean to comprehensively advance talent development, entrepreneurship, scientific research, and industry integration in the field of artificial intelligence.

ABC International Holdings Limited is a professional investment banking platform meticulously established by Agricultural Bank of China in Hong Kong, founded in November 2009. Currently, the company has eight wholly-owned subsidiaries, including financing, investment management, asset management, and securities companies. In Hong Kong, through ABC International Financing Limited, ABC International Securities Limited, and ABC International Asset Management Limited, it holds Type 1 (Dealing in Securities), Type 4 (Advising on Securities), Type 6 (Advising on Corporate Finance), and Type 9 (Asset Management) licenses issued by the Hong Kong Securities and Futures Commission. It is authorized to engage in comprehensive and integrated investment banking financial services, such as listing sponsorship and underwriting, bond issuance and underwriting, financial advisory for overseas mergers and acquisitions, asset management, institutional sales, securities brokerage, securities consulting, and direct investment. In mainland China, it engages in capital market businesses that do not require financial licenses, such as equity investment, debt financing, fund management, and financial advisory.

Morningside Ventures, an affiliate of Morningside Group, conducts high-tech venture capital investments globally. Since its establishment in 1986, Morningside Ventures has been dedicated to supporting biotechnology companies in their start-up and growth stages, with investments spanning numerous fields including new drug development, clinical diagnostics, medical devices, healthcare services, and digital health. Morningside Ventures boasts an excellent investment management team, most of whose members possess experience in corporate operations and entrepreneurship, and have a deep understanding of the frontiers of life sciences, the healthcare industry, as well as the entrepreneurial and investment environments across different regions.

HaoYue Capital was founded in January 2014, with a mission to serve as a bridge connecting China’s healthcare industry with capital. Its research and transaction coverage spans multiple sub-sectors, including biopharmaceuticals, innovative medical devices, IVD and precision medicine, healthcare services, and smart healthcare. The HaoYue Capital team comprises seasoned investment bankers with extensive experience in China’s healthcare sector. By closely monitoring market dynamics and investment trends in healthcare over the long term, the firm releases weekly healthcare investment newsletters and thematic research reports, offering HaoYue’s perspectives on new policies and emerging frontiers.