Cornerstone Robotics, a burgeoning player in the surgical robotics sector, has closed a substantial $70 million Series C funding round to accelerate its groundbreaking efforts towards the commercialization and development of advanced surgical robotics products. The Hong Kong-based company aims to deploy this fresh financial infusion into clinical trials and securing regulatory approvals, as it pushes towards integrating its innovations within the broader healthcare ecosystem.
Founded in 2019, Cornerstone Robotics has swiftly established itself as a significant contender amidst a competitive landscape, managing to clear several pivotal milestones within a span of just a few years. “Cornerstone Robotics experienced several pivotal milestones over the past year,” remarked Prof. Samuel Au, founder and CEO of Cornerstone Robotics. Reflecting on the company’s swift ascension and the latest funding success, Au expressed his gratitude towards the shareholders, highlighting that the recent financial boost not only acknowledges the team's efforts but also aligns with the company's vision of achieving sustainable, high-quality advancements in surgical robotics.
Operating primarily out of offices in Hong Kong and the Greater Bay Area, Cornerstone has already demonstrated its capability by completing clinical trials across multiple surgical disciplines such as urology, general surgery, gynecology, and thoracic surgery. Driven by its diverse expertise, the company is poised for global expansion, leveraging a solid foundation in clinical practice and technological innovation.
A significant stride for Cornerstone was achieving certification from China’s National Medical Products Administration (NMPA) for its Sentire endoscopic surgical system this past September 2024. The Sentire system, hailed for its comprehensive integration of clinical acumen, mechanical and electrical engineering, alongside robust software algorithms and visual imaging, marks a landmark achievement in the company’s pursuit of technological sophistication. "After five years of efforts, we have achieved independent R&D and manufacturing, and received recognition from the NMPA," Au shared, indicating the potential of Cornerstone's pioneering vision in transforming intelligent healthcare.
Cornerstone’s strategic vision extends beyond the Asian market. Last year, the company inaugurated a facility in the United Kingdom, symbolizing its ambition to innovate aggressively and fortify its research capabilities. This expansion is set to enrich Cornerstone’s ability to cater to patients across Europe and enhance its reach across global markets.
Backed by a consortium of investors, including EQT, Qiming Venture Partners, Alpha JWC Ventures, and others, the funding round underscores widespread investor confidence in Cornerstone’s mission. William Hu, Managing Partner of Qiming Venture Partners, articulated their continued belief in Cornerstone’s capacity to evolve and deliver high-impact surgical solutions globally.
The investment also features notable support from the Innovation and Technology Venture Fund under the Innovation and Technology Commission of Hong Kong’s government. This endorsement is expected to serve as a catalyst in Cornerstone’s expansion trajectory into prominent regions including Europe and Southeast Asia.
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