China-based prosthetic joint surgery robot producer Jianjia closed a series B round co-led by Fosun Pharma, the healthcare products arm of conglomerate Fosun, at more than RMB100m ($14.6m) on Monday.
GL Ventures, a venture capital arm of investment firm Hillhouse Capital, co-led the round, which included Baidu Ventures, a corporate venturing subsidiary of internet group Baidu. Investment bank Haoyue Capital was financial adviser.
Founded in 2018, Jianjia has created a robotic system called Arthrobot which helps surgeons place prosthetic joint replacements. The funding will support clinical registration of the device in China in addition to the development of new products.
Fosun Pharma-owned surgical robot producer Chindex Medical will distribute Arthrobot through a strategic partnership. The round came five months after the company raised an eight-figure renminbi amount (RMB10m = $1.41m) in a series A round led by Baidu Ventures.