China-based startup Ronovo Surgical raises $44 M in series B funding round

Ronovo Surgical, a Shanghai-based medical technology innovator developing novel surgical robotics for soft tissue procedures, has announced the successful closing of its Series B financing, raising a total of $44 million from leading healthcare technology investors to accelerate the commercialisation of its proprietary modular robotic system, the Carina Platform, in the Chinese market and set the stage for international expansion.

This round was co-led by Guolian Capital and INCE Capital, with participation from King Star Med LP and existing shareholder, LongRiver Investments.

The company recently successfully completed its multi-center, multi-specialty clinical trial for Carina, which included urology, gynecology, thoracic and general surgery patients.

Ronovo now expects to land NMPA regulatory approval in China and begin commercialisation in early 2025. To support launch efforts, the company is building a 130,000 square-foot facility to house its national clinical training center and high-volume manufacturing operations.

On the globalisation front, Ronovo recently launched its first international site– the Ronovo Institute of Surgical Excellence (RISE) based in Orlando. Established to deepen clinical collaboration with top international surgical experts and medical societies, RISE represents a significant step by the company towards internationalization.