In the first quarter of 2023, the Medtech industry witnessed a series of noteworthy deals in the robotics and drones sector.
These deals, comprising the top five largest transactions, grossed a combined total of over £68.8 million in revenue, reflecting the growing demand for robotic technologies in healthcare.
Robotics offer precise and efficient solutions for surgical procedures, rehabilitation, telemedicine, and prosthetics, leading to improved patient outcomes. With advancements in surgical precision, rehabilitation therapy, remote healthcare services, and robotic prosthetics, the impact of robotics in medtech is transforming the healthcare landscape.
These deals demonstrate the tangible impact of robotics on the healthcare industry, paving the way for further advancements and transformative changes in the delivery of healthcare services. The integration of robotics holds immense potential to revolutionise medical practices, enhance patient care, and shape the future of healthcare.
On 18th January 2023, Shanghai Based company Genepoint raised £24.01 million in a Series D round led by Guofang Investment, a prominent investment company in China that currently holds 32 active investments, including 12 in biotech and medtech. Guolian Tongbao Capital, GDHT Capital, DYEE Capital, LYFE Capital, Huajin Investment and Chengdu Bio-Town Investment also participated in the round.
Genepoint specialises in cutting-edge automated storage systems that are designed to streamline biotechnology research and development processes. With a strong focus on cryogenic robotic systems for biological samples, the company is committed to advancing intelligent storage operations and enabling scientists to effortlessly conduct sample experiments, thereby fostering significant enhancements in scientific exploration. The improved quality and more effective management of biomaterials thanks to their products will play a pivotal role in catalysing the development of precision medicine.
The funding will enable Genepoint to execute strategic initiatives aimed at global expansion, and supply chain optimisation. This should allow the company to effectively deploy its resources and capitalise on emerging market opportunities.
Zhehua Chen, with his extensive tenure as the Founder, CEO, and General Manager of Genepoint since July 2015, has demonstrated exceptional leadership and successfully orchestrated multiple funding rounds that have yielded an impressive total capital raised of £54.82 million for the company.
2. SiYi Intelligence
SiYi Intelligence raised £12.46 million in a Series A funding round Led by Chengdu Bio-Town Investment on 6th March 2023. Daoyuan Capital and Tao Capital also participated in the round.
SiYi is a pioneering developer of state-of-the-art medical rehabilitation robots meticulously designed to assist patients in their rehabilitation training. With an unwavering commitment to excellence, SiYi provides industry leading products and dependable services tailored to clinical and home/community usage in their domestic market. Their portfolio includes SYREBO® soft robotic hand rehabilitation glove, EasyWalk exoskeleton walking suit for lower extremity augmentation, EEG-based assistive BCIs, and Transcutaneous Electrical Nerve Stimulation devices and accessories.
Leveraging a vast and well-established distribution network, their cutting-edge solutions have successfully penetrated global markets, spanning across more than 80 countries and regions. As a testament to their impactful presence, SiYi caters to an extensive customer base, encompassing 3000 clinics and enriching the lives of 50,000 households worldwide.
The secured funding will not only support the rapid research and development efforts focused on neurorehabilitation integration solutions, but also contribute to the creation of a digital rehabilitation service platform.
The investment team from Chengdu Bio-town Equity Investment Fund expressed their confidence in SiYi intelligence, saying “SiYi intelligence has a comprehensive team with rich experience in rehabilitation and robotic technology; they have a deep understanding of the industry and a wealth of patent achievement in the technical field. Their products have also reached a wide market. We look forward to SiYi launching more innovative rehabilitation products to provide more choices and better services for patients.”
SiYi’s distinguished leadership team comprises accomplished doctors and masters who have graduated from esteemed institutions like Shanghai Jiao Tong University, Harbin Institute of Technology, and Jilin University. With profound expertise in the realms of robotics, healthcare, and rehabilitation, the team collectively possesses over a decade of experience in their respective fields.
Through their relentless pursuit of innovation, SiYi has amassed an impressive intellectual property portfolio. As of 2022, the company boasts over 30 authorised patents, exceeding 50 registered trademarks, and an array of software copyrights. These valuable assets solidify SiYi’s position as a frontrunner in pioneering advancements and setting industry standards in medical rehabilitation.
Gavin Yin, Founder and CEO of SiYi Intelligence, brings a wealth of experience in the field of medical robotics. Prior to founding SiYi, he served as the R&D Manager at Anhui Sanlian Group, where he contributed to the development of exoskeleton robots, intelligent robot nursing beds, intelligent walkers, intelligent wheelchairs, and other innovative products. He also held the role of R&D Manager at Huaqin Communication Technology Co., where he specialised in the development of service robots.
3. ZD MedTech
Shanghai based ZD MedTech raised £12.05 million in a Series B funding round led by leading Chinese investment company, SAIC Capital China, and early stage venture capital firm, Redhill Capital on 15th February 2023. Returning investor Shunwei Capital also participated in the round.
ZD MedTech specialises in advanced rehabilitation robots and intelligent solutions, which seems to be an emerging trend in the medical robotics market, that are tailored to meet the unique clinical requirements of Chinese medicine and patients. By offering a range of cutting-edge rehabilitation equipment, including high-end rehabilitation and exoskeleton upper limb training robots, the company empowers patients in their recovery journey, facilitating improved and accelerated rehabilitation treatment outcomes.
ZD MedTech is dedicated to spearheading the digital advancement and intelligent revolution of the conventional rehabilitation sector, and has emerged as a high-tech frontrunner with a broad global perspective and significant industry impact. With an ambitious outlook, ZD envisions introducing over ten groundbreaking products to the market within a span of two years. Notably, ZD’s flagship offerings have found extensive adoption in nearly 1,000 rehabilitation departments and specialised rehabilitation hospitals, including prestigious healthcare institutions across China.
This funding injection will expedite the company’s endeavours in research and development, market penetration, and widespread deployment of cutting-edge intelligent rehabilitation solutions.
Daoyu Wang, Founder, Chief Executive Officer, and Chairman of ZD MedTech, brings a vast reservoir of knowledge to his leadership role. As an accomplished alumnus of the prestigious University of Shanghai for Science and Technology, Wang completed his studies in medical device engineering in 2012. Prior to establishing ZD MedTech, he made contributions as a researcher at the esteemed university, further enriching his repertoire of knowledge and experience.
4. Vas Medical
Vas Medical raised £12.02 million in funding from investors CAS Investment Management and Noah Capital on 20th March 2023.
Vas Medical specialises in developing vascular interventional surgical robots that enable precise and minimally invasive treatments. Their advanced technology is reshaping the field of vascular intervention by providing medical professionals with a platform for complex surgeries, resulting in reduced risks and faster recovery times.
The vascular interventional surgery robot developed by the company is the first product of its kind to enter the clinical stage in China. The product has also obtained China’s first NMPA registration certificate for “assisted operating system for cerebrovascular interventional surgery”
This new injection of capital will be allocated towards pivotal areas including technology R&D, iterative enhancements of their product portfolio, nurturing and expanding their team, and amplified marketing.
Investment Director of Guoke Investment (CAS Investment Management) believes “Vas Medical is a pioneer in the robotics industry for vascular interventional surgery” and is looking “forward to the company’s team continuously developing new products that create greater value.” Yang Zhiwen, Managing Partner of Nuoyo Capital (Noah Capital), also expressed his excitement for the deal stating “I believe that the Vas team will be successful in the future and will continue to bring more surprising products to the market.”
The company’s founder, Professor Li Youxiang, has had a distinguished career spanning over three decades, characterised by extensive expertise in the realm of neuro-intervention. His knowledge of this field has seen Youxiang take up several leadership roles at various organisations including Chief Expert of the Neuro-Intervention Center at Tiantan Hospital, Director at the Beijing Neuro-Intervention Engineering Center, and Leader of the Intervention Group within the Neurosurgery Branch of the Chinese Medical Association.
KouTech raised £8.26 million in funding from Temasek Holdings on 12th January 2023.
KouTech was founded in January 2022 by current CEO Kou Watanabe and develops ultra-precise surgical robots that enhance the precision and quality of surgical procedures. Their diverse range of robots, including those for ophthalmic, gastroscopic, and microsurgery applications, covers various medical fields such as otolaryngology, neurosurgery, vascular surgery, and plastic surgery. These advanced robots effectively counter hand tremors, reduce physician fatigue, and streamline the learning process.
The funding will primarily be allocated towards international registration, advancing product development initiatives, and expanding the company’s talented team. These strategic investments will propel the company’s global presence, drive innovation in product offerings, and facilitate the recruitment of top-tier professionals, further enhancing their capabilities and positioning in the market.
Established in 1974, Temasek Holdings is a distinguished sovereign wealth fund headquartered in Singapore. With a diversified portfolio spanning over 1,000 investments, Temasek has demonstrated a notable focus on the life sciences sector.
Boon Heng Lim, a seasoned executive, has steadily ascended the ranks within Temasek over a span of 7 years, culminating in his appointment as the CEO of the organisation in April 2020. With his continued leadership, Lim spearheads Temasek’s strategic vision, guiding the organisation towards sustainable growth and fostering enduring partnerships in a rapidly evolving global landscape.
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