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Yuanhua Intelligent Technologies announced it brought in “several hundred million yuan” in Series B financing in January 2022. A hundred million yuan is equivalent to over $15 million.
Cornerstone Capital, a Chinese private equity investment institution, led the funding round. Existing investors, like Shenzhen Venture Capital and Sequoia China, and investment firms, like Guoke Jiahe and Wanhui Capital, also participated in the round.
The company was founded in December 2018 in Shenzhen, China. In 2019, it’s fully owned subsidiary Gusheng Yuanhua Robot unveiled the prototype for its assisted robotic system for orthopedic surgery.
The next year, the company completed an Angel round of financing. It used the funding to complete clinical trials for its surgical robotics system to be used in knee replacements.
The system is made up of a collaborative robot (cobot) arm with seven joints that precisely performs surgery. The surgeon plans and navigates the surgery from the YUANHUA-TKA software platform.
In March of 2021, the company announced it raised over $30 million in Series A funding. Sequoia China and CMB International Capital jointly led the round. At the beginning of January 2022, it enrolled the robotic surgical system in clinical trials for hip replacements.
Yuanhua Tech plans to use the financing to commercialize it’s surgical system and to accelerate its other projects.
The company is currently undergoing clinical trials for its digestive tract products and natural cavity surgery robots. Yuanhua Tech is also finishing tests on other commercial applications for its self-developed cobot arm.