CMR Surgical raises £195m in Series C financing

Funding | Growth | Healthcare | International | South East

CMR Surgical Limited, the Company developing, manufacturing and marketing the next-generation surgical robotic system, Versius, today announced that it has raised £195m to fully fund the global commercialisation of the business.

Since the last funding round in May 2018, CMR Surgical has further accelerated its growth in order to achieve its mission of bringing minimal access surgery to patients around the world. Listed as the sixth fastest-growing business in the UK in 2018, the Company now has offices located in four continents, and employs 400 people.

The company has made significant clinical progress with its Versius surgical robotic system announcing the successful completion of 30 first-in-human surgical procedures in May 2019 as part of an ongoing clinical trial. CMR Surgical is expected to launch in hospitals across Europe and Asia imminently with further international expansion expected thereafter.

This raise, which is Europe’s largest private financing round in the medical technology sector to date, will be used to fund the business through the planned global commercialisation of Versius whilst supporting continued research and development, manufacturing and expansion.

The fundraise has been supported by existing investors: LGT, Escala Capital Investments, Cambridge Innovation Capital, Watrium, and Zhejiang Silk Road Fund as well as new US investors with deep sector knowledge.

Erik Langaker, Chairman of CMR Surgical, commented: “We are pleased to welcome new US investors whose calibre and scale are reflective of the scale of CMR’s mission to transform surgery. I would also like to thank our existing investors for their long-term commitment in supporting this company to achieve its global mission. The significant capital injection in a UK scale-up reconfirms my belief that the Cambridge ecosystem has fostered a unique pool of diverse talents and competencies that will help drive our innovation in the years ahead. With new and existing investors onboard, CMR is well-placed to make surgical robotics accessible for all.”

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