Abrobo (爱博医疗机器人), a Shenzhen-based surgical robot developer, has netted 100 million yuan (US$14 million) in a Series A round of funding, Chinese media reported today.
The round was led by Guozhong Capital, with participation from existing shareholders Lenovo Capital and Long Hill Capital.
Proceeds from the latest round will be used to accelerate the clinical trial of general endovascular robots, build a technical platform for vascular interventional robotics and recruit more talent.
Founded in June 2020, Abrobo mainly produces neurointerventional surgical robot and general endovascular robot that accommodate multipel surgical needs.
The company has filed 368 domestic and overseas patent applications and was granted 135 patents.
Vascular interventional surgical robot has been a fast-expanding category of the surgical robot family in China, amid an aging population and growing incidence of chronic diseases.
Currently, vascular interventional surgical robot is primarily applied in three types of surgical procedures, including percutaneous coronary intervention (PCI), neurointervention, and peripheral vascular intervention.
According to Frost & Sullivan, the number of robot-assisted vascular interventional surgeries is projected to hit 7 million to 10 million every year.
The high precision, entry barrier and levels of radiation associated with endovascular surgeries have made it challenging to perform these procedures.
Traditionally, surgeons presiding over endovascular operations need to work close to X-ray tubes, exposing them to radiation, jeopardizing their health and cutting short their careers.
The appearance of vascular interventional surgical robot has solved these pain points through a master-slave mechanism, where doctors are exposed to a lesser risk of radiation and the safety of the surgeries also improves.