Posted on September 18, 2019 by staff

Cambridge surgical robot start-up secures £195m


Medical robotics firm CMR Surgical has raised £195m in its latest round of funding.

The Cambridge firm, which claims to be the sixth-fastest growing business in the UK last year, now has offices in four continents and employs 400 people.

Following the funding, it said it expects to launch in hospitals across Europe and Asia imminently with further international expansion planned.

Versius, its surgical robot and first product, is a ‘biomimicking’ arm for surgeons which can help to perform minimal access surgery (MAS).

CMR Surgical said it wants to make MAS universally accessible, rapidly increasing the number of robotic-assisted procedures that take place globally.

The latest round was supported by existing investors LGT, Escala Capital Investments, Cambridge Innovation Capital, Watrium, and Zhejiang Silk Road Fund as well as new US investors.

It brings the firm’s valuation to over $1bn.

“We are pleased to welcome new US investors whose calibre and scale are reflective of the scale of CMR’s mission to transform surgery,” said Erik Langaker, Chairman of CMR Surgical.

“I would also like to thank our existing investors for their long-term commitment in supporting this company to achieve its global mission.

“The significant capital injection in a UK scale-up reconfirms my belief that the Cambridge eco system has fostered a unique pool of diverse talents and competencies that will help drive our innovation in the years ahead.

“With new and existing investors onboard, CMR is well-placed to make surgical robotics accessible for all.”

Martin Frost, CEO of CMR Surgical, added: “We are delighted with the level of interest and support we have received from both new and existing investors.

“This is a really exciting time for CMR, having already completed a series of surgical procedures using Versius in a clinical trial, and we are on the verge of the commercial launch of the Versius system.

“We are strongly positioned to transform the global market of minimal access surgery, making it more accessible and affordable.”