Ronovo Surgical announced today that it closed a new round of financing, bringing its total funds raised to more than $50 million since 2020.
Shanghai-based Ronovo develops broad, cross-specialty robotic-assisted surgery (RAS) technology. LongRiver Investments led the latest financing round. Existing investors Lilly Asia Ventures, Vivo Capital, Matrix Partners China and GGV Capital participated. CEC Capital acted as the exclusive financial advisor.
Ronovo said it now exits “stealth mode,” unveiling its inaugural Carina robotic platform. Carina, a modular system built on proprietary technology, enables configurable robotic assistance for laparoscopic surgeries across multiple specialties.
Add Ronovo to a host of companies, large and small, that are seeking to take on Intuitive in the soft-tissue robotic surgery space. (Here are 16 surgical robotics companies you need to know.)
The company said its oversubscribed financing round accelerates the multi-discipline clinical trial for Carina. It also expects the funds to strengthen R&D and clinical applications development, as well as bolster its talent base.
More about Ronovo Surgical and its Carina system
Ronovo developed Carina in collaboration with renowned Chinese laparoscopic surgeons, according to a news release. It addresses numerous pain points in minimally invasive surgeries and provides surgeons with the flexibility to choose the best instruments and the most ideal anatomical access. As such, surgeons can leverage prior laparoscopic training and improve upon their surgical performance, the company said.
The company noted that Carina minimizes equipment footprint to maximize the utilization of operating room space. Surgical teams can choose between three-module or four-module configurations, Ronovo said. Surgeons also have a full suite of instruments from which to choose with Carina.
“We are extremely grateful to our investors for their confidence in Ronovo’s strategy to democratize robotic surgery,” said Dr. John Ma, founder, chair and CEO of Ronovo. “From inception, we have stayed true to our belief that innovation must start from an original pursuit to solve actual unmet clinical needs.”