Global Medical Robotics Market to Grow 16.5% Annually, Reaching USD 12.7 Billion by 2025
LN Robotics Raises KRW 20 Billion in Series B for Cardiovascular Intervention Robot
Mand.ro Secures KRW 1.5 Billion Pre-A Investment for 3D-Printed Robotic Prosthetic Hand
MedInTech Completes KRW 20 Billion Funding for Robotic Medical Endoscope Development
Source: Pixabay
[The Stock = Reporter Kim Dong-jin]
As the medical robotics market continues to grow steadily, investment activity in related startups is also gaining momentum.
Medical robots are intelligent robots used in clinical settings. Korea’s Ministry of Food and Drug Safety defines them as medical devices or systems that utilize robotic technology. The adoption of medical robots can improve treatment outcomes and reduce medical costs. In addition, because they shorten patient recovery and rehabilitation periods, demand for medical robots in clinical practice is increasing.
According to global market research firm Markets and Markets, the global medical robotics market was valued at USD 5.91 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.5%, reaching USD 12.7 billion (approximately KRW 18 trillion) by 2025.
According to industry sources on the 13th, medical robotics company LN Robotics (CEO: Choi Jae-soon) successfully raised KRW 20 billion in Series B funding on the 9th from LB Investment, Korea Development Bank, KB Investment, Mirae Asset Venture Investment, and Stick Ventures.
LN Robotics was founded in 2019 by Professor Choi Jae-soon of the Asan Institute for Life Sciences and Professor Kim Young-hak of the Department of Cardiology. The company develops robotic systems for cardiovascular interventional procedures.
Cardiovascular intervention refers to procedures that restore blood flow by inserting balloons or stents into blocked blood vessels supplying the heart. LN Robotics obtained Korea’s first MFDS manufacturing certification for a cardiovascular intervention robot in February last year and later, in September, received New Health Technology Certification—the first in the surgical robotics field—demonstrating its technological excellence.
Based on this Series B funding, LN Robotics plans to expand its product portfolio to include robotic systems for neurovascular and peripheral vascular interventions, pain intervention robots, and rehabilitation robots. The company also plans to conduct joint research with institutions in France and the United States to develop next-generation core technologies, including AI-based automation of robotic procedures and intelligent image data provision.
CEO Choi Jae-soon stated, “Within the next three years, we aim to obtain regulatory approvals and enter markets in the U.S., Japan, and Europe, growing into a global vascular medical robotics company and contributing to the advancement of Korea’s AI and medical robotics industries.”
Meanwhile, Mand.ro (CEO: Lee Sang-ho), a robotic prosthetic hand company based on 3D printing technology, also secured KRW 1.5 billion in Pre-A funding on the same day from Doosan Investment, BA Partners, Capstone Partners, and Meliora Partners.
Founded in October 2015, Mand.ro is a startup that has been developing low-cost, lightweight robotic prosthetic hands for amputees who have lost hands or arms due to accidents. Electronic prosthetic hands are assistive devices for individuals who have lost part or all of an arm. Mand.ro’s prosthetics are customized using 3D printing technology and, unlike cosmetic prostheses, are equipped with ultra-small motors and reducers that enable finger joint movement for daily activities such as grasping and writing.
In January, Mand.ro’s robotic prosthetic hand won the Best Innovation Award in the Accessibility category at CES 2024, the world’s largest consumer electronics exhibition held in Las Vegas.
Leveraging this investment, Mand.ro plans to further advance its robotic prosthetic products and expand into new robotics markets. The company will focus on productizing hands and arms for humanoid and autonomous robots, while also strengthening talent acquisition and overseas expansion.
Earlier, in mid-May, MedInTech (CEO: Lee Chi-won), a developer of robotic medical endoscopes, received a total of KRW 20 billion in Series B funding from eight investors including Atinum Investment. In addition, in January, surgical robotics company Connective (CEO: Noh Doo-hyun) raised KRW 4 billion in Pre-A funding from DSC Investment and others.
MedInTech has developed a motorized endoscope that is 50% lighter than conventional systems based on medical robotics technology, and also possesses AI-based software technologies and products such as abnormality detection solutions. CEO Lee Chi-won commented on the investment, saying, “We aim to address the limitations of mechanical flexible endoscopes, which have seen little improvement for over 50 years, through medical robotics technology and artificial intelligence. Our goal is to provide convenience for clinicians and safety for patients.”
Founded in April 2021, Connective develops robotic systems for joint replacement surgery. More recently, the company has also developed musculoskeletal diagnostic support software based on high-quality AI technology trained on over 100,000 images directly labeled by university hospital specialists.
Source: The Stock
(http://www.the-stock.kr)
https://www.the-stock.kr/news/articleView.html?idxno=20457
Global Medical Robotics Market to Grow 16.5% Annually, Reaching USD 12.7 Billion by 2025
LN Robotics Raises KRW 20 Billion in Series B for Cardiovascular Intervention Robot
Mand.ro Secures KRW 1.5 Billion Pre-A Investment for 3D-Printed Robotic Prosthetic Hand
MedInTech Completes KRW 20 Billion Funding for Robotic Medical Endoscope Development
Source: Pixabay
[The Stock = Reporter Kim Dong-jin]
As the medical robotics market continues to grow steadily, investment activity in related startups is also gaining momentum.
Medical robots are intelligent robots used in clinical settings. Korea’s Ministry of Food and Drug Safety defines them as medical devices or systems that utilize robotic technology. The adoption of medical robots can improve treatment outcomes and reduce medical costs. In addition, because they shorten patient recovery and rehabilitation periods, demand for medical robots in clinical practice is increasing.
According to global market research firm Markets and Markets, the global medical robotics market was valued at USD 5.91 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.5%, reaching USD 12.7 billion (approximately KRW 18 trillion) by 2025.
According to industry sources on the 13th, medical robotics company LN Robotics (CEO: Choi Jae-soon) successfully raised KRW 20 billion in Series B funding on the 9th from LB Investment, Korea Development Bank, KB Investment, Mirae Asset Venture Investment, and Stick Ventures.
LN Robotics was founded in 2019 by Professor Choi Jae-soon of the Asan Institute for Life Sciences and Professor Kim Young-hak of the Department of Cardiology. The company develops robotic systems for cardiovascular interventional procedures.
Cardiovascular intervention refers to procedures that restore blood flow by inserting balloons or stents into blocked blood vessels supplying the heart. LN Robotics obtained Korea’s first MFDS manufacturing certification for a cardiovascular intervention robot in February last year and later, in September, received New Health Technology Certification—the first in the surgical robotics field—demonstrating its technological excellence.
Based on this Series B funding, LN Robotics plans to expand its product portfolio to include robotic systems for neurovascular and peripheral vascular interventions, pain intervention robots, and rehabilitation robots. The company also plans to conduct joint research with institutions in France and the United States to develop next-generation core technologies, including AI-based automation of robotic procedures and intelligent image data provision.
CEO Choi Jae-soon stated, “Within the next three years, we aim to obtain regulatory approvals and enter markets in the U.S., Japan, and Europe, growing into a global vascular medical robotics company and contributing to the advancement of Korea’s AI and medical robotics industries.”
Meanwhile, Mand.ro (CEO: Lee Sang-ho), a robotic prosthetic hand company based on 3D printing technology, also secured KRW 1.5 billion in Pre-A funding on the same day from Doosan Investment, BA Partners, Capstone Partners, and Meliora Partners.
Founded in October 2015, Mand.ro is a startup that has been developing low-cost, lightweight robotic prosthetic hands for amputees who have lost hands or arms due to accidents. Electronic prosthetic hands are assistive devices for individuals who have lost part or all of an arm. Mand.ro’s prosthetics are customized using 3D printing technology and, unlike cosmetic prostheses, are equipped with ultra-small motors and reducers that enable finger joint movement for daily activities such as grasping and writing.
In January, Mand.ro’s robotic prosthetic hand won the Best Innovation Award in the Accessibility category at CES 2024, the world’s largest consumer electronics exhibition held in Las Vegas.
Leveraging this investment, Mand.ro plans to further advance its robotic prosthetic products and expand into new robotics markets. The company will focus on productizing hands and arms for humanoid and autonomous robots, while also strengthening talent acquisition and overseas expansion.
Earlier, in mid-May, MedInTech (CEO: Lee Chi-won), a developer of robotic medical endoscopes, received a total of KRW 20 billion in Series B funding from eight investors including Atinum Investment. In addition, in January, surgical robotics company Connective (CEO: Noh Doo-hyun) raised KRW 4 billion in Pre-A funding from DSC Investment and others.
MedInTech has developed a motorized endoscope that is 50% lighter than conventional systems based on medical robotics technology, and also possesses AI-based software technologies and products such as abnormality detection solutions. CEO Lee Chi-won commented on the investment, saying, “We aim to address the limitations of mechanical flexible endoscopes, which have seen little improvement for over 50 years, through medical robotics technology and artificial intelligence. Our goal is to provide convenience for clinicians and safety for patients.”
Founded in April 2021, Connective develops robotic systems for joint replacement surgery. More recently, the company has also developed musculoskeletal diagnostic support software based on high-quality AI technology trained on over 100,000 images directly labeled by university hospital specialists.
Source: The Stock
(http://www.the-stock.kr)
https://www.the-stock.kr/news/articleView.html?idxno=20457