Robotics firm hits 100 headcount six months ahead of schedule
Cambridge Medical Robotics, which is developing what it describes as the world’s smallest surgical robot, has hired its 100th employee six months ahead of schedule.
CMR has more than doubled in size in the past 10 months from its Cambridge UK headquarters.
It is developing the Versius surgical robotic system to make keyhole surgery available to all those who need it by breaking down what it perceives as barriers within the market currently.
Versius was inspired by the human arm, with its remarkable dexterity, flexibility and reach. Enabled by what the business calls “a unique robotic wrist”, the CMR robot system is designed to combine the ability and dexterity of a surgeon with the benefits of robotics.
CMR has filled more than 150 patents, a number which has been increasing on a weekly basis.
In July 2016, the company announced the completion of its Series A financing, which raised more than $20 million. Investors include ABB Technology Ventures, LGT Global, Cambridge Innovation Capital and Escala Capital.
Global annual revenues for robot-assisted minimal access surgery are presently approximately $4 billion and are anticipated to reach $20bn by 2025.
CEO Martin Frost said: “We’re growing at a rate that’s faster than we could ever have imagined. CMR has an ambitious task ahead, bringing the world’s smallest and most affordable surgical robot to the international market.
“Around six million people undergo open surgery unnecessarily globally each year because laparoscopic, or key hole, surgery is unavailable to them. Versius will ensure that patients receive the best surgical procedures possible and that surgeons are given the best tools for the job. Our vision is for the technology to revolutionise surgery worldwide.”