Robot-assisted surgery startup Riverfield Surgical Robot Laboratory reportedly raised more than $10 million (¥1.15 billion) for the Emaro robot-assisted surgery platform it’s developing.
Based on technology developed at the Tokyo Institute of Technology, Riverfield plans to have its device on the Japanese market by 2020, selling at half the price of the da Vinci robot marketed by industry behemoth Intuitive Surgical (NSDQ:ISRG), the Nikkei Asian Review reported.
Unlike other robotic surgery systems that are powered by electric motors, the Riverfield system uses pneumatics to drive its robotic arm. If successful Emaro would be the first domestically produced surgical robot on the Japanese market.
The funding round was led by Toray Engineering and included SBI Investment, Jafco and Beyond Next Ventures, according to the business review.
Founded in 2014, Riverfield is working on a prototype and plans to use the proceeds from the funding round to ramp up production, the review reported. The company already markets an endoscopic surveillance assistance robot that’s made under contract by Toray, which pledged to assist in the Emaro program, according to the Nikkei Asian Review.