Singapore-based surgical robotic firm NDR Medical Technology on Monday announced that it has raised SGD 8 million (USD 5.75 million) in a Series A round led by medical device manufacturer Microport Scientific Corporation, according to a statement. NDR is backed by SG Innovate, and Kava Ventures joined as a new investor.
“With Microport as strategic investor, alongside Kava Ventures that has rich commercial experience in distributing surgical robotic systems, NDR will be able to accelerate growth plans in Asia with greater assurance, fulfilling our vision of ensuring safer surgical procedures,” said Alan Goh, co-founder and CEO.
The company will use the fresh capital to prepare for an expansion into the US, regulatory submissions in other major markets, and to enhance technical capabilities while exploring other clinical applications.
NDR Medical is also establishing a joint venture with Microport’s subsidiary in China, which will be tapping on existing networks and engineering resources in the country. It’s Microport’s first equity investment into a Singapore-based startup.
Founded in 2014, NDR Medical combines AI, robotics, and computer vision for surgical procedures. The company has developed a proprietary smart robotic guiding system for surgeries known as Automated Needle Targeting (ANT). The system helps surgeons visualize the 3D-location of the target lesion in the patient’s body, which helps achieve greater accuracy for needle alignment and positioning.
NDR claims to have an accuracy of up to 1 millimeter, with AI-based algorithms that enable the system to use training data to continually improve accuracy. It will also complement existing imaging modalities such as c-arm fluoroscopy, CT scan, and ultrasound.
Prior to this round, the company raised an undisclosed amount of seed funding from SG Innovate in 2018.
