Surgical robot developer EDDA raises $150m led by SoftBank Vision Fund 2

Source: Marcel Scholte/Unsplash

EDDA Technology, a developer of intelligent robotic solutions for precision surgery, has raised $150 million in a round led by SoftBank Vision Fund 2. The company will use the proceeds to further its ambition of combining precision surgery with AI and robotics for better patient outcomes in China and worldwide.

Global healthcare investment firm OrbiMed and Hong Kong-based investment manager 3W Fund participated in the investment, alongside EDDA’s existing investors including Morningside Ventures, Matrix Partners China, SoftBank China Venture Capital, Bank of China Group Investment, Trust Bridge, and Draper Dragon, among others.

EDDA was founded in early 2003 by Qian Jianzhong, a former executive at Siemens Corporate Research, where he was in charge of R&D management in imaging, computer vision, pattern recognition, AI and robotics.

The firm brings precision 3D medical imaging solutions to support physicians and enable improved workflow and patient care in robotic surgery. Its end-to-end enabling IQQA platform supports pre-surgical planning and simulation, intra-operative navigation, and post-operative evaluation.

In a statement, EDDA said the IQQA products and services have been commercially adopted in hundreds of hospital departments, including Mayo Clinic in the US, as well as Peking Union Medical College Hospital, West China Hospital, and Shanghai Ruijin Hospital in China.

IQQA(R)-Guide, intra-operative precision 3D navigation system, for imaging-guided surgical procedures of thoracic, abdominal, and pelvic organs. Source: EDDA Technology Inc

In 2020, the firm obtained a Category III registration certificate from the National Medical Products Administration (NMPA), which regulates drugs and medical devices in China, for its IQQA-Guide as the country’s first surgical navigation medical device for soft tissue organs. The product was also cleared by the US Food and Drug Administration (FDA) in November 2015.

“Modern surgery has entered a new precision era. EDDA’s solution integrates intelligent medical imaging analytics with robots for precision surgery, and overcomes the problems of lack of intelligent planning and limited image guidance in traditional robot-assisted surgeries,” said Qian, president and CEO of EDDA, in the statement.

This new funding round will support EDDA to “capture the untapped market of intelligent surgical robots including hospitals in second and third-tier cities, and utilise technologies to facilitate the diagnosis and treatment of major diseases such as cancer,” he said.

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.