AAA Riverfield flows with fresh funding

Riverfield flows with fresh funding

Japan-based healthcare robot developer Riverfield raised ¥3bn ($27.3m) on Friday from engineering group Toray Engineering, insurer Dai-ichi Life and medical supplies provider Medipal Holdings.

Medipal Holdings took part in the round through Medipal Innovation, a vehicle the corporate runs together with financial services firm SBI subsidiary SBI Investment.

Spun out of Tokyo Institute of Technology and Tokyo Medical and Dental University in 2014, Riverfield is developing robotics-powered medical equipment such as surgical robots.

Toray Engineering had joined SBI Investment and venture capital firms Jafco and Beyond Next Ventures (BNV) to provide $10.1m in funding for Riverfield in October 2017.

Leasing services firm Fuyo General Lease and industrial parts manufacturer Sankei Giken Kogyo took part in a $4.6m round for the company three months earlier. Toray Engineering, BNV and Jafco had all backed a $5.3m round for Riverfield in 2016, two years after Jafco had supplied $1.9m in funding.

By Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.