CMR Surgical Company Profile: History, Funding and Product
Updated: 7 days ago
CMR Surgical is a British company that makes Versius, a surgical robot with independent modular arms. Founded in Cambridge in 2014, it raised USD 600 million in 2021 at a valuation of USD 3 billion. This profile sets out its history, funding and product.
CMR Surgical at a Glance
Fact | Detail |
Company | CMR Surgical |
Founded | 2014, as Cambridge Medical Robotics |
Founders | Luke Hares, Keith Marshall, Paul Roberts, Mark Slack and Martin Frost |
Headquarters | Cambridge, United Kingdom |
Manufacturing | Ely, Cambridgeshire |
Employees | About 650 |
Product | Versius surgical robot |
Valuation | USD 3 billion at the 2021 round |
Company History
The company was founded in 2014 as Cambridge Medical Robotics and took its present name in March 2018. It reached a valuation above one billion dollars in 2019. In April 2023 it won a King's Award for Enterprise for innovation and, in the same month, announced about 350 redundancies. In October 2023 it opened a GBP 10 million factory able to produce up to 500 systems a year.
Key milestones
2014: Founded.
March 2018: Renamed CMR Surgical.
2019: Unicorn status.
2020: 1,000th operation performed in India.
2021: Series D of USD 600 million.
April 2023: King's Award; about 350 redundancies announced.
September 2023: USD 165 million raised.
October 2023: New UK factory opened.
March 2024: 20,000 Versius cases.
Funding
Round | Amount | Investors |
Series D, 2021 | USD 600 million, at a USD 3 billion valuation | Escala Capital, SoftBank Vision Fund 2, GE Healthcare and ABB Technology Ventures among others |
September 2023 | USD 165 million | Ally Bridge Group, Cambridge Innovation Capital, Escala Capital, LGT, Lightrock, RPMI Railpen, SoftBank Vision Fund 2, Tencent and Watrium |
Product
Versius is a system for robot-assisted surgery built from separate arms on their own carts, positioned as a rival to the da Vinci system. Fluorescence imaging was added in February 2024. The system is used in 20 hospital partnerships in the British health service, and in 2024 a seven-year-old became the first child to have surgery with it in a trial.
Can You Invest in CMR Surgical?
No. It is privately held.
Strengths and Challenges
Strengths
Substantial funding from large investors.
A modular design that differs from the market leader.
Its own manufacturing.
Challenges
A large round of redundancies in 2023.
Competition from a far larger incumbent.
Current Catalogue Coverage
Catalogue checked on 15 October 2026: 1 associated product records. The links below are representative entries, rather than a claim that every historical model is currently available.
CMR Surgical FAQ
What does CMR Surgical make?
The Versius surgical robot.
Where is CMR Surgical based?
In Cambridge, United Kingdom, with manufacturing in Ely.
When was CMR Surgical founded?
In 2014, as Cambridge Medical Robotics.
How much has CMR Surgical raised?
USD 600 million in 2021 and USD 165 million in 2023, among other rounds.
Is CMR Surgical publicly traded?
No.
Sources
Wikipedia: CMR Surgical
