VC/PE media outlet PE Daily reported today that surgical robot developer Shurui (术锐) had completed a Series C3 round of financing valued at hundreds of millions of yuan.
The round was led by Loyal Valley Capital, followed by existing shareholders V Star Capital and SDIC, as well as DNV Capital, NNFE and Sanya Cuihu.
Proceeds from this round will be used for clinical trial and market promotion of Shurui’s surgical products at domestic and overseas hospitals.
The money also will go toward globalizing the company’s operations and elevating its competitiveness in the realm of surgical robotics worldwide.
The startup, founded by Shanghai Jiao Tong University professor Xu Kai, specializes in developing minimally invasive, single-port surgical robot system with independent intellectual property rights.
“From open surgery to multi-port laparoscopic surgery, then to single-incision surgery and now to natural orifice transluminal endoscopic surgery, patients sustain fewer cuts,” said Xu.
Nonetheless, as surgical procedures become more complicated to perform, robot-assisted surgery, which promises higher levels of intuitiveness and precision, has steadily gained ground, Xu added.
Shurui’s robotic system is more nimble and has a higher payload compared to rigid steel wire-driven arms of traditional surgical robots, according to a statement by Loyal Valley Capital, the lead investor in this round.
At the same time, Shurui’s device incorporates what is known as the “remote center of motion” mechanism. This design helps to solve the so-called “chopstick effects,” whereby laparoscopes and scalpels often collide into each other during a single-port operation.
To solve this pain point, Shurui came up with “dual continuum mechanism,” an invention by its founder Xu, cnrobopedia reported earlier.
The robot, which consists of snake-shaped, adjustable Endowrists, can be deployed inside a patient’s cavity through a tiny keyhole incision and perform procedures for the treatment of urological, gynecological and general surgical diseases, among others.
Shurui’s innovative technologies earned it a license from China’s National Medical Products Administration (NMPA) in 2020, making it the first domestic developer of single-port surgical robot to be given the official stamp of approval.
Media revealed in mid-March that the startup had signed a pre-listing tutoring agreement with CITIC Securities, paving the way for its accession to China’s A-share market.