Chinese surgical robotics developer Cornerstone Robotics announced on Monday its completion of a new funding round at about $200 million from investors, including the government-owned Hong Kong Investment Corporation Limited (HKIC).
Headquartered in southern China’s Greater Bay Area, Cornerstone Robotics said in a statement that the investors of this oversubscribed round also included “a global strategic investor and a top sovereign wealth fund,” alongside Qiming Venture Partners, Bridgeone Capital, Gaorong Ventures, and K2VC, among others.
This new funding, led by the HKIC, will accelerate the company’s commercialisation efforts in China and overseas, fund clinical trials, and advance the R&D of its pipeline products to promote the global adoption of advanced surgical robotics solutions, said Cornerstone Robotics in its statement.
Founded in September 2019, Cornerstone Robotics aims to deliver high-quality surgical robotics solutions at competitive prices through in-house R&D and vertical supply chain integration.
Its most advanced, self-developed endoscopic surgical system, “Sentire,” obtained the National Medical Products Administration (NMPA) approval in September 2024, marking its official launch in mainland China with the local regulator’s green light for the product to be manufactured, distributed, and sold in this market.
With multiple development pipelines, Cornerstone Robotics is advancing robotic solutions for soft tissue surgeries and other surgical specialties, including urology, general surgeries, gynecology, and thoracic surgeries. It operates from hubs in Hong Kong, Shenzhen, Beijing, Shanghai, and Boston, the US, as well as an R&D collaboration hub in Portsmouth, the UK.
This big-ticket financing comes less than one year after Cornerstone Robotics announced in January an EQT-led Series C round at over $70 million. Before that, the company had completed a few funding rounds largely dominated in Chinese yuan, with about 1.6 billion yuan ($224.7 million) in its combined RMB financing, according to its website.
