Cornerstone Robotics, a Hong Kong-based surgical robotics firm, has raised over $70 million in a Series C fundraising round.
The round was led by Asian private equity house EQT with participation from Qiming Venture Partners, Alpha JWC Ventures, Hong Kong's Innovation and Technology Venture Fund, eGarden Ventures, CTS Funds, K2VC and Long-Z Capital, among others. The exact amounts and percentages were not disclosed.
This funding will help Cornerstone Robotics to advance the commercialisation process, develop new surgical robotics products, conduct clinical trials, obtain regulatory approvals, and promote the global adoption of advanced robotic surgical solutions, according to a media release.
The funding will help the company expand into countries in Europe, Southeast Asia and "across global markets", according to a media release.
Founded in September 2019, Cornerstone Robotics has aimed to make advanced surgical systems accessible globally. This has involved in-house research & development (R&D) and supply chain integration, Cornerstone Robotics partners with medical centers in mainland China, Hong Kong, and Europe, including the Faculty of Medicine of the Chinese University of Hong Kong, and Chinese University of Hong Kong-Shenzhen Medicine.
The firm has had successful clinical trials across urology, general surgery, gynecology and thoracic surgeries.
In September 2024, Cornerstone Robotics obtained the National Medical Products Administration (NMPA) approval in China for Sentire, its endoscopic surgicals system. Additionally in 2024, Cornerstone Robotics set-up in the UK to foster innovation, support advanced research, and enhance the firm's ability to serve patients in Europe and across global markets.
Professor Samuel Au, founder and CEO of Cornerstone Robotics, said, "We are deeply grateful to our shareholders for their trust and support. This milestone is not only a recognition of our team's efforts in translating surgical robotics innovations into practical applications but also a testament to our commitment to long-term, high-quality development. 'Building the cornerstone of surgical robotics industry' has been our aspiration since we began in 2019.”
Au added: “After five years of efforts, we have achieved independent R&D and manufacturing, also received recognition from the NMPA in 2024. Moving forward, our team will continue to innovate, expand global markets, advance international certifications, and collaborate with more partners to create value for the intelligent healthcare industry and contribute to a better future for humanity."
