CMR Surgical: A US$3 billion British robotics startup shaping the future of surgery

medical robot technology start up Started using a single prototype wood six years ago arm More than 1,000 keyhole operations have been completed patience In hospitals around the world.

The remarkable rise of CMR Surgical has witnessed its evolution from this model—fixed together with glue and bolts in the studio of engineer Luke Hares, and now on display in the boardroom of its spongy Cambridge headquarters—becoming the best in the UK. One of the promising unicorns, valued at $3 billion.

CEO Per Vegard Nerseth joined last year after working for the industrial robot giant ABB for nearly 20 years. He said: “Five years after the initial prototype was developed, we performed the first surgery on a patient. Now, through this Model, we have helped 1,000 patients around the world.”

Prior to this, SoftBank’s $600 million fundraising campaign led by its $30 billion Vision Fund 2 caused a sensational valuation. China’s Tencent and Escala Capital are also among the supporters.

The original wooden arm has been developed by a team of engineers into a set of molded, neon-lit modular units — named Versius — as the surgeon’s virtual assistant for laparoscopy in the theater.

Each arm mimics the doctor’s movements, and the doctor uses a modified PlayStation controller to manipulate needles, blades, and tweezers under the patient’s skin from a 3D viewing console.

More than 700 patents cover all aspects of its operation, especially the rotating “wrist”-a feature of the original prototype-which is the key to maintaining movement, by expanding the size of the incision to the minimum.

This means that compared with open surgery, the operation time is shorter, the complications are less, the risk of infection is lower, and the recovery is faster.

It can also extend the working life of surgeons, who often retire in their 40s due to physical stress on the back and neck.

CMR has been approved by the regulatory authorities to operate in more than 20 countries/regions in Europe, Australia, India and the Middle East, of which approximately “double-digit” Versius divisions are already in operation, including 7 in NHS trusts.

It plans to expand to China, Japan, and the United States-home to long-term market leader Intuitive-and estimates that global sales of surgical robots will reach $5 billion this year.

There were internal discussions on a potential IPO, but the oversubscribed D series provided enough cash to accelerate its growth plan.

Nerseth said: “There may be an IPO in the future, but now we have solid shareholders with a long-term vision.”

Starting with an initial team of five engineers, CMR has set a goal to more than double the existing 600 to 1,800 employees and install at least 1,000 Versius systems by 2025.

Nerseth said: “About 50% of patients still undergo open surgery, but because manual keyhole surgery is very difficult, there are all the shortcomings.

“We have a very clear vision that is easy for the market to understand: to bring keyhole surgery to patients all over the world. In an excellent market with excellent products, there are huge growth opportunities.”