CMR Surgical raises $165M for robotic-aided minimal access surgery

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This week, surgical robotics business CMR Surgical announced that it closed an upsized $165 million fundraising round.

CMR’s vision is to make minimal access surgery (MAS) universally accessible, rapidly increasing the number of robotic-assisted procedures globally. 

The company has developed a small, modular, versatile surgical robotic system called Versius. 

Biomimicking the human arm, Versius gives surgeons the choice of optimised port placement alongside the dexterity and accuracy of small fully-wristed instruments.

With 3D HD vision, easy-to-adopt instrument control and a choice of ergonomic working positions, the open surgeon console has the potential to reduce stress and fatigue. It allows for clear communication with the surgical team.

By thinking laparoscopically and operating robotically with Versius, patients, surgeons and healthcare professionals can all benefit from the value of robotic MAS.

Versius also captures meaningful data to support a surgeon’s continuous learning with the Versius Connect app, Versius Trainer and CMR clinical registry.

Versius has successfully been used to perform over 15,000 surgeries in hospitals across the UK, Europe, Latin America, the Middle East, Asia and Africa.

The surgical cases span over 130 complex and benign procedure types, including colectomies, hernia repairs, hysterectomies, sacrocolpopexies, and lobectomies across seven surgical specialities.

The funding round was led by all of its major existing investors, including Ally Bridge Group, Cambridge Innovation Capital, Escala Capital, LGT and its affiliate impact investing platform Lightrock, RPMI Railpen, SoftBank Vision Fund 2, Tencent and Watrium. 

The funds are to be used to drive continued product innovation, including new technological developments, and to support the further commercialisation of the system in existing and new geographies. 

Supratim Bose, Chief Executive Officer at CMR Surgical, said: 

“More and more surgeons and patients are benefiting from Versius, and our latest funding round will allow us to serve even more customers, supporting our continued growth in existing markets, as well as expansion into new key markets. 

Versius’ unique versatility and differentiated offering, enabled by its patented V-wrist technology, continues to receive positive feedback from hospitals and surgical teams. We are inspired by its potential to change the way the world receives surgical care.”

Umur Hursever, Partner at LGT Lightrock and Chairman at CMR Surgical commented: 

“At Lightrock, we are committed to supporting innovators who make a positive contribution to humanity and the planet. We have always been impressed by not only CMR’s product, Versius, but also its exceptional people. 

CMR is one of those innovators who are blazing its own trail with Versius, a differentiated robotic experience that democratises robotic surgery both procedurally and geographically.

With this latest raise, we are delighted to be supporting CMR in its mission to make robotic keyhole surgery available to everyone.”

The company’s latest clinical milestone and financing announcement follows the recent news that it has received the Royal College of Surgeons of England (RCS England) accreditation for its global professional education portfolio. 

The accreditation by RCS England is an internationally recognised hallmark of quality and serves as a recognition of excellence for the Versius surgical training programme. It was also awarded a King’s Award for Enterprise for Innovation for Versius. The company has raised over  $1.1 billion in funding.

Lead image: via CMR Surgical. Photo: Uncredited.

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