Investors back $240m series-C for CMR Surgical

Existing investors in the round included LGT Capital Partners, Escala Capital Investments, Cambridge Innovation Capital, Watrium and Zhejian Silk Road Fund, as well as unidentified new investors from the US.

The company has made significant surgical progress since the last funding round, according to a statement. It said its robots completed their first 30 human surgeries in May this year.

Previous funding
ABB Technology Ventures, LGT and Cambridge Innovation took part in a $20.3m funding round for the company (then known as Cambridge Medical Robotics) in July 2016.

The trio then took part in a $26m series-A for the business 14 months later, with Escala and Watrium also involved in the round. LGT joined the syndicate to provide CMR with a $100m series-B in June 2018.

Company
Headquartered in Cambridge and founded in 2014, CMR develops robotic systems for use in minimal-access procedures. Its Versius product is designed for use in upper gastrointestinal, gynaecological, colorectal and renal surgery.

People
CMR Surgical – Martin Frost (CEO).

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