Each week, Medical Device Network selects a deal that illustrates the themes driving change in our sector. It may not always be the largest deal in value, or the highest profile, but it will tell us where the leading investors are focusing their efforts, and why.
This new, thematic deal coverage is driven by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.
Today, we highlight Shenzhen Aibo Medical which has completed a $14 million series A funding round for its vascular interventional surgery robot.
The deal
Shenzhen Aibo raised $14 million in a series A round jointly led by CDH VGC (Innovation and Growth Fund) and Yahui Investment, followed by Changan Private Capital, and Changling Capital, the lead investor in the angel round.
The details
Shenzhen Aibo said the funds will be used to accelerate the clinical enrollment of a new generation of pan-vascular interventional robots, promote the establishment of an intelligent vascular interventional robot technology platform, and strengthen talent development.
Why it matters?
The robotic surgical market is still highly attractive among investors, as it’s clear that this market will continue to grow rapidly. This is primarily due to increased system sales but also as many commonly performed procedures like inguinal hernia repair and prostatectomy are being performed robotically more and more.
Increased robotic surgical rate is due to its post-surgical benefits like shorter hospitalisation time, lower pain levels experienced, and overall faster recover time in comparison to open surgical procedures, and possibly even against laparoscopic procedures performed non-robotically.
Even well established and leading robotic surgical companies like Intuitive Surgical continue to see near double digit growth in this market overall, so investors see lots of potential in continued technological and product adoption into hospitals and integrated delivery networks (IDNs).
“This Series A financing is an example of the increasing trend of the number and value of the venture financing in recent years for robotic surgeries, particularly post-Covid,” says GlobalData senior analyst Brian Hicks.
“2022 saw the largest volume of venture financing, and thus far in 2023 we’re seeing similar levels. However, the value of the deals isn’t nearly as high as last year, mostly since the relatively large Series A financing by Foresight Robotics and Moon Surgical, made in 2022, dwarf most other years’ deals value.”
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