Cambridge Innovation et al. in $26m series-A for CMR
Cambridge Innovation Capital, LGT Global Invest and Escala Capital Partners have taken part in a $26m series-A funding round for UK-based robotics company Cambridge Medical Robotics (CMR).
Corporate venture firm ABB Technology Ventures and Norwegian investor Watrium also took part in the round.
The fresh capital will enable the company to undertake pre-clinical tests for its Versius product and invest in new product development.
The latest investment round brings the total amount raised by CMR to $46m.
Previous funding
In July 2016, ABB, LGT and Cambridge Innovation took part in a $20.3m funding round for CMR. The capital was earmarked for expanding its team and investing in product development.
Company
Founded in 2014 and headquartered in Cambridge, CMR develops robotic systems for use in keyhole surgery. Its products are used in minimal access upper gastrointestinal, gynaecological, colorectal and renal procedures.
People
Cambridge Medical Robotics – Martin Frost (CEO).
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