In a groundbreaking move this week, CMR Surgical, a pioneering force in surgical robotics, unveiled the successful closure of a substantially upsized $165 million fundraising round. At the core of CMR Surgical's mission lies the aspiration to democratize minimal access surgery (MAS), aiming to propel the adoption of robotic-assisted procedures across the globe. The company's key innovation, the versatile surgical robotic system known as Versius, promises a revolutionary shift in the world of surgery.
Versius, CMR Surgical's brainchild, is a marvel of engineering designed to emulate the capabilities of the human arm. It bestows surgeons with a dynamic range of optimized port placements, alongside the precision and agility of small fully-wristed instruments. Augmented by 3D HD vision, intuitive instrument control, and a variety of ergonomic working positions, Versius' open surgeon console is engineered to alleviate the stresses of surgical precision, fostering clear communication within the surgical team.
By harmonizing laparoscopic thinking with robotic precision through Versius, patients, surgeons, and healthcare professionals stand to reap the rewards of enhanced value in robotic MAS. Additionally, Versius diligently captures meaningful data through the Versius Connect app, Versius Trainer, and the CMR clinical registry, facilitating continuous learning for surgeons.
Versius has already carved an impressive legacy, with over 15,000 surgeries performed successfully across hospitals spanning the UK, Europe, Latin America, the Middle East, Asia, and Africa. These surgeries encompass a remarkable spectrum of over 130 complex and benign procedures, including colectomies, hernia repairs, hysterectomies, sacrocolpopexies, and lobectomies, cutting across seven surgical specialities.
CMR Surgical's latest funding round was championed by its major existing investors, featuring the likes of Ally Bridge Group, Cambridge Innovation Capital, Escala Capital, LGT, Lightrock (an affiliate impact investing platform), RPMI Railpen, SoftBank Vision Fund 2, Tencent, and Watrium. The substantial funds secured will be dedicated to propelling continuous product innovation and fostering new technological advancements. Moreover, they will fuel the expansion of the Versius system into both existing and emerging markets.
Supratim Bose, Chief Executive Officer at CMR Surgical, conveyed his excitement regarding the latest developments, stating, "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, underscored the company's commitment to driving innovation that benefits humanity and the planet. Hursever emphasized CMR's unique position as an innovator pioneering the democratization of robotic surgery both procedurally and geographically. With this substantial raise, CMR Surgical is poised to further its mission to make robotic keyhole surgery accessible to all.
CMR Surgical's recent accomplishments extend beyond fundraising. The company has received the coveted Royal College of Surgeons of England (RCS England) accreditation for its global professional education portfolio, cementing its reputation for excellence. Furthermore, it has been honored with a King's Award for Enterprise for Innovation in acknowledgment of the groundbreaking impact of Versius.
This latest fundraising triumph adds to CMR Surgical's impressive tally, bringing its total funding to over $1.1 billion. It's a testament to the company's unwavering dedication to transforming the landscape of surgical innovation and access on a global scale.