INCE Capital portfolio company Ronovo Surgical, a global innovator in next-generation surgical robotics, announced the successful closing of its Series D financing on September 5, led by Johnson & Johnson’s corporate venture capital organization, JJDC and participation from Lilly Asia Ventures, INCE Capital and Granite Asia, with a total investment of USD $67 million.
This is Ronovo’s second major funding round in 2025. With over USD 100 million raised this year alone, Ronovo continues to gain strong investor support for its vision to transform minimally invasive surgery around the world.
In addition to the Series D closing, Ronovo Surgical signed a targeted collaboration agreement with Johnson & Johnson Medical (Shanghai) Ltd. aimed at expanding surgical technology choice and access in China. The collaboration will offer hospitals in portions of the China market the advantages of Carina™, Ronovo’s flagship modular robotic surgery platform, alongside complementary Johnson & Johnson MedTech surgical technologies.
Carina™ received regulatory approval from China’s National Medical Products Administration (NMPA) in March 2025, becoming the first modular surgical robotic system in the country to obtain a first-time filing covering four major specialties: General Surgery, Gynecology, Urology, and Thoracic Surgery. With its configurable modular architecture, Carina™ addresses the flexibility, adaptability and affordability challenges posed by legacy robotic surgical systems.
In parallel, Ronovo has initiated global expansion, with submissions underway in Europe and South America. The platform has already received enthusiastic feedback from international key opinion leaders, validating Carina™’s differentiated value proposition and its ability to meet significant unmet needs across healthcare systems.
Dr. John Ma, Founder, Chairman, and CEO of Ronovo Surgical, commented:
“We are grateful for the successful closing of our Series D round. Carina™—configurable, adaptable, and affordable—embodies our commitment to democratizing access to surgical robotics on a global scale. We’re excited about the strategic collaboration with Johnson & Johnson MedTech, which will further accelerate our commercial momentum in China while laying the foundation for international growth.”
