Cornerstone Robotics Completes New Funding Round, Accelerating Global Expansion of High-Quality Chinese Surgical Robots

高榕创投高榕创投·June 30, 2023

Where surgery brings peace of mind, life unfolds in all its vastness.

On June 30, Cornerstone Robotics, a leading Chinese innovator in surgical robotics, announced it has raised a new round of financing worth several hundred million RMB. The round brought in several top-tier industry investors, including Daohe Technology Investment and Lenovo Capital and Incubator Group, with follow-on investments from Qingsong Capital, Meituan Longzhu, Qiming Venture Partners, Lilly Asia Ventures, New World Development Group, and K2VC. Gaorong Ventures had previously co-led Cornerstone Robotics' angel round in 2019 and has continued to back the company through multiple subsequent rounds.

The fresh capital will accelerate the development of new surgical robot products, clinical trials, regulatory approvals, and global commercialization efforts.

First-Generation Laparoscopic Surgical Robot Enters Human Clinical Trials

Founded in September 2019, Cornerstone Robotics was built by a founding team of globally recognized experts in medical surgical robotics with decades of industry experience. The company is dedicated to creating safe and efficient surgical robot platforms. It has already established its underlying technology platform and industrialization infrastructure, with full independent control over core technologies including mechanical architecture, electrical systems, software architecture, complex algorithms, and visual imaging systems. This foundation supports a multi-pipeline portfolio spanning soft-tissue surgical robots and other major specialty surgical systems.

In 2022, Cornerstone Robotics achieved a significant milestone by becoming the first Chinese innovative surgical robotics company to conduct clinical trials in international markets with a global-facing strategy.

Independent innovation has been the core engine driving Cornerstone Robotics' rapid growth. In just three years, the company overcame major technical challenges to develop high-quality surgical robot products. Its independently developed multi-port laparoscopic surgical robot has successfully completed urological animal trials and multiple complex human clinical surgeries in both urology and general surgery. Its outstanding performance — smooth operation, precise control, realistic visualization, and excellent overall capabilities — has earned high praise from leading clinical experts at home and abroad, combining usability with accessibility while occupying a commanding position in domestic technology.

The company's first-generation laparoscopic surgical robot has now entered human clinical trials and will seek medical device certifications globally, with market approvals to follow.

On the international front, Cornerstone Robotics remains committed to bringing Chinese innovation to the world stage. The company currently operates subsidiaries in Shenzhen, Hong Kong, and Beijing, China, as well as in the United States, with three global R&D centers and a mass production facility in Shenzhen. While refining products with stronger international competitiveness, the company continues to expand global exchange and promotion efforts, aiming to evolve into a world-class innovative surgical robotics enterprise.

Building a Comprehensive Underlying Technology Platform, Executing a Full Internationalization Strategy

According to industry data, the global surgical robotics market is projected to reach $28.51 billion by 2025, representing a compound annual growth rate of 27.1% from 2021 to 2025. By 2030, the market is expected to grow to $61.9 billion. With the rapid advancement of minimally invasive surgical techniques, the surgical robotics market holds substantial growth potential.

Since its inception, Cornerstone Robotics has maintained a global market perspective. Leveraging its robust technical capabilities, the company is executing a comprehensive internationalization strategy to develop highly competitive surgical robot products and deliver premium Chinese solutions worldwide.

Professor Ou Guowei, founder of Cornerstone Robotics, stated: "We are grateful for the strong trust and support from both our new and existing shareholders, and for the relentless dedication of every Cornerstone Robotics team member to advancing healthcare and upholding our shared vision. Cornerstone Robotics remains committed to building safe and efficient surgical robot platforms, focusing on clinical needs and translation, insisting on independent R&D innovation, and establishing an underlying technology platform with core competitive advantages. This foundation will enable us to address diverse surgical clinical needs in the future and allow more patients and physicians to benefit from advanced medical devices."

"In three and a half years, we've watched our team grow from just over ten people to several hundred, and seen Cornerstone Robotics establish operations across four global locations, building three R&D centers and a mass production facility. Our independently developed laparoscopic surgical robot has gained high recognition from top clinical experts both domestically and internationally. Going forward, Cornerstone Robotics will continue to focus on breakthrough innovation, accelerating new product development, clinical trials, and commercialization to promote broader access to quality medical care — enabling patients and physicians worldwide to benefit from China's advanced medical technology."

Staying true to its founding mission of "laying the cornerstone for China's surgical robotics industry," Cornerstone Robotics will continue to explore, reflect, and innovate — sharing China's advanced medical technology with patients globally and fulfilling its promise to "make surgery reassuring, and life expansive."