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.