Cambridge Medical Robotics, fresh from the unveiling of its Versius robot-assisted surgical arm, said today that it added $26 million to the Series A round it plans to use on validation studies and further production.
Existing backers Cambridge Innovation Capital, LGT Global Invest, Escala Capital and ABB Technology Ventures were joined by new investor Watrium in the round’s second tranche, taking the Series A total to $46 million, the Cambridge, U.K.-based company said.
Cadaver trials showed that the Versius device, which features four-axis wrist joints designed to mimic the human wrist, can be used in upper gastro0intestinal, gynecological, colorectal and renal procedures.
“Versius continues to demonstrate its leading position in this next generation of robotic surgery systems. I’m pleased to report this significant progress and thank our existing and new investors for their enthusiastic support and look forward to continuing our rapid development as we lay the foundations for producing and marketing this in-demand system,” CEO Martin Frost said in prepared remarks.
Earlier this month Cambridge Medical Robotics unveiled the five modular Versius surgical arms, detailing the system’s open-console design.