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3 November 2017

Riverfield operates $10.1m series B

The Tokyo Institute of Technology spinout has raised $10.1m to continue development of its medical robot that assist surgeons during delicate procedures.

Author: Sam McCaffrey, Reporter

Riverfield, a Japan-based medical robot developer spun out of Tokyo Institute of Technology, has secured ¥1.2bn ($10.1m) in a series B round, according to Nikkei Asian Review.

The round was led by Toray Engineering, a subsidiary of industrial products conglomerate Toray Group, and also featured SBI Investment, a subsidiary of financial services firm SBI Holdings, as well as investment firm Jafco and venture capital firm Beyond Next Ventures.

Founded in 2014, Riverfield is developing a robot that can assist with delicate surgical procedures that require minute movements. It uses air pressure technology to create a sense of touch that will make such operations easier.

Riverfield plans to launch its robot in Japan by 2020 at half the price of competitors currently on the market. The company had previously raised $2m in funding from Jafco in 2014. 

– A version of this article first appeared on our sister site, Global Corporate Venturing.

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