Sinovationmed (华科精准), a leading domestic medtech startup specializing in neural diagnostics and minimally invasive surgical robot, had completed a Series D+ funding round in June for more than 100 million yuan (US$14 million), Chinese media cited sources as saying today.
The recent investment into the Beijing-based startup was backed by Kunpeng Capital, Tsing Ventures, Peakvest and Huiyu Touzi, with exsiting shareholder DNV Capital also injecting funds.
The Series D+ round came more than half a year after the previous Series D round, which was announced on December 26 last year.
Sinovationmed raised as much as 300 million yuan during the round from China-U.S. Green Fund, a lead investor, as well as DNV Capital, Banyan Pacific Capital and Co-Win Ventures.
As of today, with the revelation of the Series D+, Sinovationmed has completed the Series D rounds, bringing the total funding amount to more than 400 million yuan.
Public records show that the firm is dedicated to development of surgical robots and clinical diagnostics systems based on image processing algorithms and medical imaging technologies.
Its products are mainly applied in robot-assisted neural surgeries on epilepsy, Parkinson’s, cerebral hemorrhage, and brain tumor. Sinovationmed also provides doctors and medical institutes with surgical positioning solutions.
As of June this year, its first self-developed 3D structure neural surgical robot — reportedly the first of its kind in the world — secured the license from the US Food and Drug Administration to reach the monetization stage.
This surgical system is also the world’s first Chinese-made neural surgical robot to be approved by FDA for sale, according to Sinovationmed.
