InnerMedical Raises ￥10M in New Funding Round

According to VCBeat, recently, Shenzhen-based InnerMedical Co., Ltd. ("InnerMedical") announced the closure of a ￥10 million new round of financing, led by EFUNG Investment with participation from Guiyang Venture Capital, Guozhong Venture Capital, Pengnian Venture Capital, Zhuangji Holding and other investors. Proceeds from the latest round will be mainly used for product promotion and marketing.

Founded in May 2015, InnerMedical is a national high-tech enterprise dedicated to providing original minimally invasive medical devices for diagnosis and treatment of major diseases (cancer, cardiovascular and cerebrovascular diseases, etc.). At present, the company focuses on the development of minimally invasive intracardiac and digestive interventional instruments, especially interventional imaging products used in intracavity. The company's three core products are the ultrasonic endoscope, electronic endoscope, and angiography system.

It is reported that InnerMedical has completed the clinical trials of the product for gastrointestinal endoscopy, a national innovative medical device, in early July. The multi-center and paired-controlled clinical trials were adopted to verify the safety and effectiveness of the product compared with the same type of imported Olympus’. At present, the product is in the process of registration of Class III medical devices soon.

InnerMedical has recently set up a marketing team and achieved tens of millions of sales in the first half of 2020. During the epidemic this year, the company actively participated in the prevention work and donated goods to more than 60 hospitals in China. The medical isolation masks produced by the company have been exported to more than 50 countries around the world.

EFUNG Investment is one of China's earliest institutions investing in professional biomedical industries. Over a decade of years, EFUNG Investment has been focusing on the medical and health industry, especially the VC and PE investment business of novel drugs and high-end medical devices.

Founded in 2010, Guiyang Venture Capital is a subsidiary of Guiyang Industry Investment specializing in venture capital and equity investment, with registered capital of 350 million yuan. The company is committed to supporting the development of small and medium-sized enterprises in the early and growth stage, aiming to become an incubator of startups.