Chinese surgical robotics developer Ronovo Surgical has closed its Series D funding round at $67 million, with Johnson & Johnson’s corporate venture capital (CVC) arm serving as the lead investor, the company announced on Friday.
Johnson & Johnson Development Corporation (JJDC) led the deal, with participation from Lilly Asia Ventures (LAV), INCE Capital, and Granite Asia, formerly known as GGV Capital’s Asia franchise.
With this, Ronovo’s fundraising in the January-September period crossed $100 million. The firm completed a Granite Asia-led Series C funding round earlier this year.
Ronovo also signed a collaboration agreement with Johnson & Johnson’s medtech subsidiary in Shanghai aimed at expanding surgical technology options in China.
Founded in 2019, Ronovo is dedicated to addressing unmet healthcare needs and building a future where robot-assisted surgery is the practical choice for minimally invasive patient care across all surgical specialties.
Its Carina™ received regulatory approval from China’s National Medical Products Administration (NMPA) in March, making it the first modular surgical robotic system in the country to obtain a first-time filing covering general surgery, gynecology, urology, and thoracic surgery.
With its configurable modular architecture, the platform aims to address the flexibility, adaptability and affordability challenges posed by legacy robotic surgical systems.
Meanwhile, Ronovo has initiated its global expansion with submissions underway in Europe and South America.
Ronovo completed its Series B financing across three tranches from 2022 to 2024. The Series B round saw the company secure at least $80 million, including a 300-million-yuan ($42 million) tranche in 2024; a 200-million-yuan ($28 million) tranche in 2023; and a pre-B round of “tens of millions of US dollars” in late 2022.
Vivo Capital, MPCi, previously known as Matrix Partners China, LongRiver Investments, NRL Capital, and Wuxi Guolian Development Group are among its early backers.
