Chinese medical robot maker raises $93m

Other participants include 3H Health Investment, Shanghai Guoce Investment, Vertex Ventures China, BioTrack Capital, Yahui Precision Medical Fund, and Poly Capital. The new capital will go towards production line construction and global expansion.

The company previously raised RMB100 million last year across extended Series A and pre-Series B rounds, according to AVCJ  Research's records. Legend Star, Poly Capital, and 3H Health were among the investors.

Founded in Shenzhen in 2017, Edge Medical has three product lines: single-hole and multi-hole laparoscopic surgical robot systems and ultra-high-definition stereoscopic endoscope products. The multi-hole system has entered clinical trials with several production lines built.

Single-hole robots represent a newer development. They are used for minimally invasive surgery, which reduces surgical trauma and improves safety. Edge Medical's single-hole robot began animal experiments in 2018 and is now in clinical research. It is expected to become the first product of its kind domestically and only the second internationally.

In 2018, the global surgical robot market was worth $5.5 billion. It is expected to hit $25 billion by 2025. The number of traditional surgeries performed in China exceeded 55 million in 2019, while robotic surgeries amounted to about 50,000. There is a huge demand for surgical robots.

Robotics is a key investment theme in China, but most deals focus on the industrial segment. Jaka Robotics recently raised RMB300 million in Series C funding, while Flexiv, which develops robotics designed to adapt to unpredictable environments, got a $100 million Series B.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Early-stage
• Technology
• Healthcare
• China
• Lyfe Capital
• Vertex Ventures