Internet and telecommunications group SoftBank’s Vision Fund 2 led a $150m funding round today for Edda Technology, a China-based developer of 3D medical imaging technology for cancer surgeries.
Healthcare investment firm OrbiMed and investment adviser 3W Fund Management also participated in the round.
Founded in 2003, Edda is developing precision 3D medical imaging technology designed to be used in open, minimally invasive and robotic surgeries. Its technology can be used for pre-surgery planning and simulations as well as during operations and for post-operative evaluations.
The details of Edda’s previous funding could not be ascertained, but it described SoftBank’s SBCVC vehicle and Bank of China Group Investment (BOCGI), a subsidiary of financial services firm Bank of China, as existing investors along with Morningside Ventures, Matrix Partners China, TrustBridge Partners and Draper Dragon.
Joanne Xu, partner at SoftBank Investment Advisers, which manages Vision Fund 2, said: “We believe Edda Technology is an innovative health tech leader who is combining precision surgery with [artificial intelligence] and robotics to provide better clinical care.”
Jianzhong Qian, Edda’s president and CEO, added: “This round of investment from Softbank Vision Fund 2, OrbiMed and 3W with their vision and market insight, will further accelerate the company’s strategic growth, and further support the company to continuously lead technological innovation in precision surgery, capture the untapped market of intelligent surgical robots including hospitals in second and third-tier cities, and utilise technologies to facilitate the diagnosis and treatment of major diseases such as cancer.”