UltraGreen.ai (UltraGreen), a Singapore-based fluorescence-guided surgical technologies and precision healthcare solutions provider, announced Monday the signing of a $188 million strategic investment led by 65 Equity Partners (65EP) and Vitruvian Partners (Vitruvian).

UltraGreen said in a statement that the round also saw participation from August Global Partners (August).

It noted the investment reflects strong confidence in UltraGreen’s artificial intelligence (AI)-powered surgical imaging platform and will support the company’s next phase of growth.

UltraGreen, through its Diagnostic Green business, leads the Fluorescence Guided Surgery (FGS) market as the world’s largest provider of Indocyanine Green (ICG), marketed as IC-Green in the US and Verdye internationally.

ICG is used in more than 90 percent of FGS procedures globally.

“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 increasingly applied in high-value procedures, including colorectal, minimally invasive and robotic surgery, where they help surgeons assess perfusion and visualize anatomy with greater precision.

By spanning the full surgical workflow – from visualisation to quantification to decision support – UltraGreen helps deliver improved outcomes for both surgeons and 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, Cortex Partner at Vitruvian, added that UltraGreen’s leadership in fluorescence-guided surgery is already transforming clinical practice worldwide.

“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 also highlighted that its platform addresses key healthcare challenges by reducing surgical complications, shortening procedure times, and improving patient outcomes,
generating clear value for providers and patients alike.

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