Hong Kong’s push to scale its biotech and hard-tech sectors gained momentum as Cornerstone Robotics secured US$200 million in new commitments. The round is led by Hong Kong Investment Corp, the government’s investment arm, alongside several prominent venture backers. The funding underscores the city’s strategy to anchor homegrown innovators and accelerate commercialization across the Greater Bay Area.
Funding Round Highlights
Cornerstone Robotics confirmed that HKIC participated with Qiming Venture Partners, Gaorong Ventures, and Bridgeone Capital joining the syndicate. The company characterized the raise as validation of its product roadmap and commercialization plans in surgical robotics. It also framed the backing as a signal of long-term support from public and private capital for locally built unicorns.
Company Background
Founded in 2019, Cornerstone Robotics develops systems that help surgeons perform minimally invasive procedures using robotic instruments and magnified vision. The company operates from Hong Kong Science and Technology Park while running a 150,000 square foot manufacturing facility in Shenzhen’s Longhua district. More than 200 engineers support custom component production and system integration at the plant.
Strategic Rationale and Government Role
HKIC said the investment aligns with its mandate to advance accessible, applicable, and affordable technologies for global markets. Chief executive Clara Chan Ka-chai described Cornerstone Robotics as born in Hong Kong, established in the Greater Bay Area, and developing with global ambition. Founder and CEO Samuel Au Kwok-wai added that HKIC’s participation reflects a policy commitment to help local innovators expand internationally.
Technology and Market Context
Robotic surgical systems enable doctors to perform complex procedures through small incisions, with enhanced dexterity, precision, and visualization. These platforms can be operated directly in the operating room and, in some cases, controlled remotely to extend expertise across sites. Hospitals adopting such systems typically seek shorter recovery times, reduced complications, and more consistent outcomes.
Clinical and Commercial Progress
Cornerstone Robotics initiated a clinical trial in Hong Kong three years ago before extending its studies to hospitals in mainland China. The company says the data gathered is informing product refinement and regulatory engagement across its target markets. The new capital will support scaling manufacturing, advancing clinical validation, and expanding commercial partnerships.
HKIC Mandate and Capital Pools
Established in October 2022, HKIC manages about HK$62 billion across several vehicles, including the Hong Kong Growth Portfolio, the Greater Bay Area Investment Fund, the Strategic Tech Fund, and a Co-Investment Fund. Its priorities focus on hard and core technologies, biotech, and new and green technologies. According to HKIC disclosures, each Hong Kong dollar invested has catalyzed more than HK$6 in long-term capital across over 150 projects.
Previous Funding and Growth Trajectory
Cornerstone Robotics raised 800 million yuan in 2023 to accelerate R&D and productization. Late last year, it closed more than 500 million yuan in a Series C round led by Swedish private equity firm EQT, with Lenovo Capital, K2VC, and Lilly Asia Ventures participating. The latest round deepens that capital base while broadening the investor roster to include Hong Kong’s sovereign investment platform.
Investor Perspectives
Backers say the company’s pathway meets HKIC’s “3A” criteria by aiming to deliver platforms that are accessible to hospitals, applicable across procedures, and affordable at scale. Venture investors emphasize the strategic advantage of integrating design, engineering, and manufacturing within the Greater Bay Area supply chain. They also point to a rising demand curve for next-generation surgical systems across Asia and beyond.
The US$200 million raise positions Cornerstone Robotics to transition from late-stage development to scaled commercialization. With government-aligned capital and top-tier venture funds in its corner, the company plans to expand production, clinical evidence, and market entry. As Hong Kong sharpens its biotech and hard-tech edge, Cornerstone Robotics stands out as a flagship bet on globally competitive, locally built medical technology.
Source: South China Morning Post