Cornerstone Robotics secured about $200 million in its second round of financing this year, which the Hong Kong-based company said it will use to speed the global commercialization of its surgical platform.
Founded in 2019, Cornerstone has been developing its multiarm Sentire Endoscopic Surgical System and has claimed an approval from China’s National Medical Products Administration in September of last year. More recently, the platform began a clinical trial this past June in the U.K., at Queen Alexandra Hospital in Portsmouth, which will assess the safety and efficacy of the system in colorectal and urologic procedures.
While the names of investors were not disclosed, the company thanked a "global strategic investor" as well as "some global institutional or sovereign wealth funds" that would also support Cornerstone's bids for international market access and commercial partnerships.
In January, Cornerstone raised more than $70 million in a series C round led by EQT, with additional backing from Qiming Venture Partners, Alpha JWC Ventures and the Innovation and Technology Venture Fund, among others. The company said the latest fundraising was also joined by returning shareholders.
“This represents not only recognition of the successful clinical application of our innovations, but also strong confidence in Cornerstone Robotics’ long-term growth,” founder and CEO Samuel Au said in a statement. “Moving forward, we will remain committed to innovation-driven development and deepen our global presence, bringing safe, high-quality, and accessible surgical robotic solutions to patients and healthcare providers around the world.”
Fellow China-based robot developer Ronovo Surgical raised $67 million in September, which it plans to put toward expanding its commercial reach within the country. It also inked a deal with a local Johnson & Johnson subsidiary to offer its Carina modular robotic surgery platform alongside J&J hardware in certain regions of China.