Cambridge Medical Robotics (CMR), a Cambridge, UK-based private company developing a robotic system for universal minimal access surgery, has secured $20.3 million in a Series A funding round. Investors participating in the financing include ABB Technology Ventures, LGT Global Invest, and Cambridge Innovation Capital. CMR has appointed Dr Robert Tansley of CIC, Massimo Muzzi of ABB and Egor Kulkov of existing investor Escala Capital to its board.

The funds will be used to progress development and commercialization of its medical robotic technology, and to expand the team in preparation for regulatory approval, said the company.

Mooreland Partners acted as exclusive financial advisor to the company.

[Image courtesy: CMR]