British surgical robot firm CMR valued at $3bn after Softbank-led funding
British surgical robotics group CMR Surgical has raised $600m (£431m) in a Softbank-led funding round as it looks to expand its technology to hospitals worldwide.
The Cambridge-based company said the cash injection was the largest ever medtech private financing round and gave it a valuation of $3bn.
The funding was led by Softbank’s Vision Fund 2 alongside New York-based healthcare investment group Ally Bridge.
PRMI Railpen, Tencent and Chimera also took part in the Series D round, in addition to existing investors such as LGT, Watrium and Cambridge Innovation Capital.
CMR said it will use the funding to increase the global commercialisation of Versius, its robotic system specialising in keyhole surgery.
The firm has already rolled out its technology across Europe, Australia, India and the Middle East and said it expects growth in global demand to continue.
CMR will also use the cash to support the development of its digital offering, including an app for use by surgeons.
“This latest financing equips CMR with significant funds to accelerate our mission of bringing Versius to hospitals worldwide, whilst providing full flexibility to achieve our goals,” said chief executive Per Vegard Nerseth.
“This major injection of capital that now values us at $3bn not only reflects the level of interest we have seen in our product, but also the scale of the business, and will enable significant technology developments and global expansion.”
JP Morgan acted as sole placement agent on the funding round.