China’s Edge Medical snags $200m from Temasek, Sequoia, others

Visual from company website. Credit Reach Robotics

China’s Edge Medical Robotics has raised over $200 million in its Series C round to expand its operations, per an announcement. 

The round was co-led by China market-focused Boyu Capital, Singapore’s state investor Temasek and tech bellwether Sequoia Capital China. 

New investors who participated in the round include healthcare industry investors OrbiMed, Octagon Capital and Sage Partners, as well as state-backed Greater Bay Area Homeland Investments, and Korean investment firm Mirae Asset Financial Group, among others. 

Existing investors – LYFE Capital, 3H Health and Guoce Capital – re-upped in the current round. 

The current investment follows the completion of its nearly 600 million yuan ($94 million) in its Series B round at the beginning of this year. The funding then was led by LYFE Capital that also saw the participation of investors such as 3H Health, Panorama Capital and Vertex Ventures China. 

Armed with the new proceeds, the startup plans to spruce up its business development and product line commercialization, it said in a statement. 

Established in 2017 in Southeast China’s Shenzhen city, Edge Medical transforms smart surgery through new-generation robotic systems and solutions.

Its flagship product, a single-port surgical robot, got the approval of China Food and Drug Administration (CFDA) earlier this year, and it is applying for clinical trial registration. 

Based on medical engineering, imaging, robot kinematics, mechanical sensing, AI and algorithms, Edge Medical also develops products used in multi-port laparoscopic surgeries. 

Market research major Frost&Sullivan revealed that unmet demands exist in China’s laparoscope operational robots, with statistics showing that one laparoscopic surgical robot can help achieve up to 240 surgeries in the US, while 299 in China. 

Edge Medical’s previous backers include Legend Holdings and its Legend Star, real estate giant Poly Group’s investment arm Poly Capital, GF Securities’ GF Xinde Investment, and Onew Capital. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.