Ronovo Surgical closed a Series B funding round worth $44 million to support its modular robotic system. Shanghai-based Ronovo aims to use the funds to accelerate the commercialization of the proprietary Carina platform. It hopes to bring the robot to the Chinese market and set the stage for international expansion.
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Guolian Capital and INCE Capital co-led the round, while King Star Med participated along with existing shareholder LongRiver Investments.
Carina, a modular system built on proprietary technology, enables configurable robotic assistance for laparoscopic surgeries across multiple specialties. Ronovo developed Carina in collaboration with renowned Chinese laparoscopic surgeons. It addresses numerous pain points in minimally invasive surgeries. The company says it provides surgeons with the flexibility to choose the best instruments and the most ideal anatomical access.
Ronovo recently completed a clinical trial that included urology, gynecology, thoracic and general surgery patients. It now expects to land regulatory approval in China and begin commercialization in early 2025. The company also plans to build a 130,000 square-foot facility to support its launch efforts.
“Securing this round of financing from such an esteemed group of investors, despite challenging capital market conditions, is significant acknowledgement of our vision, mission and the execution of the team,” said John Ma, CEO of Ronovo Surgical. “Our innovation efforts for developing Carina have been laser-focused on expanding its application across multiple specialties, reducing learning curve, and improving cost-effectiveness.”
Last September, the company raised $26 million, adding to a February round that came along with the unveiling of the Carina platform.
