UltraGreen.ai, a Singapore-based company that makes advanced surgical and healthcare technologies, announced on Monday that it has secured a $188 million investment. The funding round was led by 65 Equity Partners and Vitruvian Partners.
UltraGreen said in a statement that the round also saw participation from August Global Partners (August).
The company said this investment shows strong trust in UltraGreen’s AI-powered surgical imaging platform and will help drive its next stage of growth.
Through its Diagnostic Green business, UltraGreen is the global leader in Fluorescence Guided Surgery and is the largest supplier of Indocyanine Green, sold as IC-Green in the U.S. and Verdye worldwide.
Today, over 90% of FGS surgeries around the world use ICG.
“We are delighted to welcome 65EP, Vitruvian and August as shareholders of UltraGreen.ai. This investment marks their confidence in our mission to democratize precision surgery
worldwide and enables us to leverage their deep strategic expertise in scaling healthcare technologies across global markets,
“Their backing validates our vision of making data-driven surgical intelligence the standard of care in operating rooms worldwide. We believe the investment also aligns seamlessly with our strategic expansion and diversification, particularly in Asia,” said Ravi Sajwan, Founder and Chief Executive Officer of UltraGreen.ai.
According to the statement, the partnership with 65EP, Vitruvian and August strengthens UltraGreen’s ability to expand its fluorescence ecosystem, integrating ICG agents, advanced imaging hardware and proprietary AI quantification software.
These technologies are now being widely used in important surgeries such as colorectal, minimally invasive, and robotic procedures. They help doctors check blood flow and see the body’s structure more clearly and accurately.
By covering the entire surgical process—from imaging to measuring to decision-making—UltraGreen supports surgeons in achieving better results and improves outcomes for patients.
“This investment via our Anchor Fund aligns strategically with our mandate of supporting high quality, high growth businesses,
“UltraGreen is the global leader in precision surgical solutions, and Singapore is a key location from which it can expand into the Asia Pacific region, where there are significant growth opportunities,” said Francis Woo, Chief Corporate Officer and Managing Director at 65EP.
Richard Chen, Partner at Vitruvian, said that UltraGreen’s leadership in fluorescence-guided surgery is already changing the way doctors practice medicine around the world.
“Their vision to harness ICG fluorescence agents for advanced quantification — supported by AI and next-generation imaging — positions them uniquely to set new global standards in surgical care,
“With a strong international footprint and growing relevance across specialties, we are excited to support their continued expansion into new markets and applications,” he said.
Dr Basil Lui, Founding Partner of August Global Partners, added that UltraGreen exemplifies the dynamic innovation at the intersection of advanced surgical practice and AI-driven solutions that August Global Partners seeks to champion.
“Our investment underscores a shared commitment to accelerating the global adoption of precision healthcare and enabling clinicians to deliver better, safer surgical
outcomes,
“We are proud to partner with UltraGreen in extending access to transformative fluorescence imaging across new markets, and believe this platform sets a new benchmark for data-driven, patient-centric care in operating rooms worldwide,” he added.
UltraGreen noted that its platform helps solve major healthcare challenges by lowering surgical risks, reducing operation times, and improving patient recovery—creating clear benefits for both healthcare providers and patients.
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