Puncture Robotic (磅策智能医疗), a surgical robot developer focusing on hair transplant solutions, has announced the completion of a Series A++ round of financing valued at tens of millions of yuan, VBData.cn reported today.
The round was led by Huading Capital alone, with the proceeds going toward clinical certification, product improvement and global promotion.
Notably, the latest fundraiser came only two months after the Shanghai-headquartered startup bagged just shy of 100 million yuan (US$13.64 million) from a Series A+ financing in early July.
Puncture said its product line consists of medtech and consumer healthcare products, spanning surgical robot puncture and navigation system and hair transplant robots.
The firm recently gained recognition for its role in developing robots catering to burgeoning demand for hair recovery among China’s overworked and anxiety-plagued urban middle class citizens.
Healthcare statistics show that more than 250 million people in China suffer from alopecia, or one in six people is battling hair loss and receding hairline.
In comparison, in 2022, only 630,000 hair transplants were carried out in the nation, representing a penetration as low as 0.25% — a far cry from the popularity of medical aesthetics.
In particular, the incidence of alopecia among the young populations is increasing in recent years, due to intense workload and a stressful lifestyle.
Puncture has tapped into this niche segment with the launch of its self-developed HAIRO® hair transplant robot.
Through multi-view stereo positioning, smart surgical route planning, force feedback protection and real-time motion compensation, the device is able to guarantee both precision and safety during the hair restoration surgery.
Currently, follicular unit extraction (FUE) is the prevalent mode of hair recovery surgery practiced worldwide.
Puncture claims it has tested and proven its FUE solutions after it deployed a HAIRO® robot to help in several surgeries performed at Huashan Hospital, a top-tier public hospital in Shanghai.
This marks the gradual muturization of this innovation in clinical application, said Puncture in a statement to media.
Through its efforts, Puncture looks to foster inclusive medtech and promote equitable access to, availability of and consistency in healthcare, Zhang Zhaodong, founder and CEO of Puncture Robotic, said.
According to Huading Capital, the exclusive financial backer of Puncture in this deal, the issue of alopecia is getting more acute with each passing year, with it affecting a growing percentage of the younger populations.
Puncture’s hair recovery surgical robot is likely to become the nation’s first such robot to be licensed for sale by the health authorities, a representative of Huading explained.