Edge Medical Robotics, the China-based robotic surgical technology developer backed by corporates Kangji Medical, Legend Holdings and Poly Group, has secured $200m in series C funding, DealStreetAsia reported yesterday.
Boyu Capital, Temasek and Sequoia Capital China co-led the round, which also featured OrbiMed, Octagon Capital, Sage Partners, Greater Bay Area Homeland Investments, Mirae Asset, Lyfe Capital, 3H Health Investment and Guoce Capital.
Edge Medical provides a range of surgical equipment, including a robotic arm, for use in multi-port laparoscopic surgery. It will channel the cash into business development activities and the commercialisation of its technology.
Surgical equipment producer Kangji co-led a January 2021 series B round sized at approximately $92.6m for the company with Lyfe Capital, 3H Health and Panorama Capital, investing alongside state-owned conglomerate Poly Group’s Poly Capital vehicle, Vertex Ventures China, BioTrack Capital and Alwin Capital.
Poly Capital, 3H Health and Guoce Capital had joined Legend Star, a subsidiary of conglomerate Legend Holdings, to provide over $14.8m in pre-series-B funding for Edge Medical in September 2020.
Legend Star and Poly Capital had previously led a series A-plus round for Edge Medical five months earlier in the eight-figure yuan range (RMB10m = $1.4m) that also featured Sanzheng Health. It followed an undisclosed amount from unnamed investors in 2019.
