Focusing on the upstream of minimally invasive medical devices, Xinzeyuan has completed a Series B financing of over 100 million yuan!

Recently, Hangzhou Xinzeyuan Medical Technology Co., Ltd. (hereinafter referred to as "Xinzeyuan"), a minimally invasive medical device supply chain platform enterprise, announced the successful completion of over 100 million yuan in Series B financing. This round is led by Qiming Venture Capital, with Tian Tang Silicon Valley as the co investor and Dian Shi Capital as the exclusive financial advisor. The new round of financing will mainly be used for upstream core technology research and development, production base construction, etc., to create a world-class minimally invasive medical device supply chain platform.

Xinzeyuan was founded in 2015 and is headquartered in Hangzhou. The company is deeply engaged in the field of minimally invasive supply chain, accompanying the growth of domestic downstream enterprises. It has formed a full chain supply platform with endoscopes and endoscopic consumables as the core. The company covers over 30000 types of minimally invasive medical components and over 3600 types of components, with full process service capabilities from "conceptual design" to "mass production and market launch".

The terminal market size of minimally invasive medical devices exceeds 45 billion yuan, and the situation where the industrial chain is highly constrained by imported products is being reversed. In the field of endoscopy, there are a variety of fields such as repetitive soft endoscopes, repetitive hard endoscopes, and disposable endoscopes, which have impacted the dominant position of overseas enterprises; In the field of endoscopic consumables, intensive centralized procurement promotes further independent innovation and further refines the division of labor in the industry chain. The rise of downstream domestic brands has put forward more product demands and higher technical requirements for the supply chain, bringing historic opportunities to upstream enterprises.

Xinzeyuan is the first Chinese supplier with the full chain supply capability of minimally invasive medical devices, and is a core player in independent innovation of the supply chain. In the field of medical endoscope soft endoscope body, which has long been monopolized by international giants, Xinzeyuan has overcome the precision manufacturing difficulties of more than 300 core components, and its products can compete with global brands in terms of appearance and performance. Based on the advantage of self-produced core components and relying on long-term polishing production processes, the company closely cooperates with leading downstream brands to form a platform centered on the full chain supply of minimally invasive medical equipment. It serves a wide range of medical brands around four business modules: rigid endoscopes, soft endoscopes, endoscopic surgical instruments, and minimally invasive surgical instruments. At present, the company has been recognized by more than 400 equipment customers, including Mindray Medical, and exported to more than 20 countries and regions around the world.

Wang Qiurong, Chairman of Xinzeyuan, said, "Thank you to Qiming Venture Capital and Paradise Silicon Valley for their trust and support. Xinzeyuan's continuous research and development and product iteration in the upstream field of minimally invasive medical devices over the past 10 years have been recognized by many customers and peers. In the future, Xinzeyuan will continue to develop its business path of 'one core platform, four business modules', serve the minimally invasive medical field, and provide value to shareholders and the industry

Zhang Ao, Executive Director of Qiming Venture Capital, said, "We have long been concerned about investment opportunities in the medical device industry chain. Compared to downstream medical device companies' vigorous independent innovation, upstream companies are at a turning point of accelerated development. In the past 10 years, with the growth of excellent domestic enterprises in the downstream, Xinzeyuan has a deep process accumulation and product understanding, and continuously innovates technology, becoming a minimally invasive medical device supply chain platform enterprise that integrates precision machining, polymer materials, structural design, and process engineering capabilities. We will continue to support Xinzeyuan in developing core technologies, serving downstream customers, and helping the development of China's medical device industry

According to Bao Xueqing, Managing Partner of Paradise Silicon Valley, the competitiveness of China's medical device industry chain in the global market is increasing day by day, with accelerated independent innovation and clearer division of labor in the industry chain. Upstream enterprises with core capabilities and advantages can not only focus on the research and development of advanced processes and materials, giving products more possibilities, but also leverage economies of scale to achieve low-cost and high-quality production, forming close cooperation between upstream and downstream. Xinzeyuan has taken a leading position in the upstream of minimally invasive surgery, accumulating a large number of high-quality customers and orders, and will enter a period of rapid development. Paradise Silicon Valley is pleased to be a partner of Xinzeyuan and accompany the company's development. We believe that while Xinzeyuan is developing rapidly, it will better empower medical device enterprises and help China's medical device industry chain go global.

Ren Zhong, founding partner of Dianshi Capital, said, "Xinzeyuan is committed to building a world-class supply platform for minimally invasive medical devices throughout the entire chain. The Dianshi team is honored to serve Xinzeyuan in this round of financing. During the financing process, we felt the team's profound technical accumulation and strong execution ability, and believe that Xinzeyuan can continue to provide high-quality upstream solutions for global medical enterprises. We are willing to accompany Xinzeyuan's growth and help the medical device industry