Funding round
CMR Surgical Series D
CMR Surgical, which works in surgical robotics solutions development in Cambridge, raised $600M in a Series D round announced on 28 Jun 2021, led by SoftBank Vision Fund and Ally Bridge Group, at a $3.00B post-money valuation. 13 firms took part, 8 of them already investors. It is CMR Surgical's fourth venture round on record; the one before was a Series C in Dec 2019.
$600M
Amount raised
$3.00B
Post-money valuation
$2.40B pre-money
13
Investors
2 leads
20%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced CMR Surgical at $3.00B after the new money. The $600M bought investors about 20% of the company. It came 18 months after CMR Surgical's Series C. It is 34% of the $1.76B CMR Surgical has raised in the venture rounds on record. CMR Surgical raised again 27 months later: a Growth round of $165M in Sep 2023.
CMR Surgical's funding rounds
CMR Surgical has 7 venture rounds on record. This one is highlighted.
Investors
Who put money in
SoftBank Vision Fund and Ally Bridge Group led the round with 11 other firms. SoftBank Vision Fund, Ally Bridge Group, LGT Capital Partners and Lightrock and 4 more had backed CMR Surgical before.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies existing investor
- backs 37 venture-backed companies existing investor
Also in the round
- RPMI Railpen new investor
- Tencent new investor
- backs 6 venture-backed companies new investor
- backs 6 venture-backed companies existing investor
- Lightrock backs 62 venture-backed companies existing investor
- backs 2 venture-backed companies existing investor
- backs 33 venture-backed companies existing investor
- PFM Health Sciences existing investor
- GE Healthcare existing investor
- Escala Capital
- ABB Technology Ventures
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
21 Series D rounds in Medical Supply Manufacturers within a year either side disclosed an amount; the median was $30M, and this round was 20 times the median. The closest in time, other companies' Series D rounds in Medical Supply Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Medical Supply Manufacturers | 23 Jun 2021 | $245M | not disclosed | Glenview Capital and Novo Holdings |
| Medical Supply Manufacturers | 8 Jun 2021 | $150M | $1.00B | Casdin Capital |
| Imperative Care Medical Supply Manufacturers | 15 Jul 2021 | $260M | not disclosed | D1 Capital Partners |
| Medical Supply Manufacturers | 25 May 2021 | $55M | not disclosed | Matrix Capital Management and Undisclosed Strategic Investor |
| Medical Supply Manufacturers | 26 May 2021 | $16M | not disclosed | Qiming Venture Partners |
| Medical Supply Manufacturers | 12 Apr 2021 | $96M | not disclosed | Peregrine and Ceros |
| Medical Supply Manufacturers | 22 Apr 2021 | $46M | not disclosed | 清池资本 |
| Medical Supply Manufacturers | 25 Aug 2021 | $28M | not disclosed | Bioventus Inc. |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did CMR Surgical raise in its Series D round?
CMR Surgical raised $600M in its Series D round, announced in Jun 2021.
Who led CMR Surgical's Series D round?
SoftBank Vision Fund and Ally Bridge Group led it, with RPMI Railpen, Tencent, Chimera VC, LGT Capital Partners and Lightrock and 6 more.
What was CMR Surgical's valuation at the Series D round?
$3.00B post-money ($2.40B pre-money).
How does it compare with other Series D rounds in Medical Supply Manufacturers?
21 Series D rounds in Medical Supply Manufacturers within a year either side disclosed an amount; the median was $30M, and this round was 20 times the median.
Did CMR Surgical raise again after this round?
Yes: a Growth round in Sep 2023 of $165M.