CMR Surgical Secures £195 Million Series C Funding to Expand Global Reach of Versius Surgical Robotic System

On September 16, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that CMR Surgical, a medical robotics company headquartered in Cambridge, UK, had completed a £195 million Series C financing round. The round was led by LGT Capital Partners, with participation from Cambridge Innovation Capital and Escala Capital. The company’s valuation has now exceeded $1 billion.

CMR Surgical plans to use the funds from this financing round to accelerate the promotion of the Versius system in Europe and Asia, further expanding its international market.

CMR Surgical unveiled the prototype and partial design details of its universal surgical robot system, Versius, in 2016, and officially launched it in September 2018. In March 2019, the Versius system received CE certification from the European Union. Designed to meet the complex demands of laparoscopic surgery, this surgical robot features a compact footprint that seamlessly integrates into existing operative workflows, while its ergonomically designed console helps reduce surgeons’ workload.

Versius is the world’s smallest surgical robot. Its operational mode is similar to that of the da Vinci Surgical System, but the device is only one-third the size of the da Vinci system, making it easy to relocate and transport. Versius achieves versatility and portability through its patented four-axis wrist technology, thereby enhancing its utilization rate.

Another major advantage of Versius lies in its optimized human-machine interaction process. The console features multiple ergonomically designed working positions, which effectively reduce the need for surgeons to frequently lean forward, bend over, or hold their arms in awkward extended positions. This helps minimize repetitive strain injuries (RSI), as well as back, knee, and neck injuries, thereby extending surgeons' career longevity. Furthermore, the system is equipped with 3D high-definition cameras that provide internal 3D visualization, along with haptic force feedback and resistance detection systems. These features enable more precise and comfortable robotic manipulation during surgery, ensuring appropriate force application by the robotic arms within the patient's body.

Martin Frost, CEO of CMR Surgical, stated: “CMR Surgical has already completed a series of surgical procedures using Versius in clinical trials, and we are on the verge of driving the commercialization of the Versius system. We have the capability to transform the global minimally invasive surgery market, making surgical procedures more affordable for a broader population.”

LGT Capital Partners is a leading investment management firm headquartered in Pfäffikon SZ, Switzerland, with branch offices in New York, London, Dublin, Hong Kong, and Tokyo. The firm manages $19 billion in hedge fund and private equity assets and boasts an international team of 160 professionals from 31 countries.

Cambridge Innovation Capital plc has a unique relationship with the University of Cambridge, and its business primarily focuses on supporting rapidly growing intellectual property companies within the Cambridge Cluster.

Escala Capital is an investment firm based in Spain, with its core business encompassing financial and corporate advisory services.

(Compiled by Tian Shuhang)