BEIJING -- Chinese medical robot developer Jointech (Jianjia Robots) recently raised more than 100 million yuan ($14.72 million) of funds in a Series B round, it was reported. A large Chinese investment fund, Hillhouse Capital, major Chinese drug company Fosun Pharmaceutical and the startup's existing shareholder, Baidu Ventures, took part in joint investment in the financing round.
HaoYue Capital served as a financial adviser to the deal, as it did early this year for Jointech's Series A round, in which the startup raised tens of millions of yuan. The company will use the new funds in the clinical registration of its joint replacement surgical robots as well as in the research and development of new products, according to the report.
