Source: Eye Future；Editor: Seven KitesReprint Requirements: Can be reprinted 24 hours after the first publication, source must be credited.Against the backdrop of reduced investment in China's private equity venture capital industry, fundraising for science and technology innovation enterprises has become a major challenge.The Central Economic Work Conference recently proposed to encourage the development of venture capital and equity investment, providing a new direction for the venture capital industry.Currently, which projects are venture capital institutions more inclined to invest in?January 16, 2025FineVision (Nanjing) Co., Ltd.Announcement CompletedOver 100 Million Yuan in Series A FinancingLed by Lilly Asia Ventures, followed by Kaitai Venture Capital, with existing shareholders Nanjing Innovation Investment Group and Dingxin Capital continuing to increase their investments. ThisThe funds raised willMainly used to promote its core product "Femtosecond Laser Corneal Refractive Surgery Equipment (FineVision2000)Registration Clinical Trials and Market Launch Process, striving to break the long-term monopoly of imported products and promote domestically produced alternatives.FineVision2000 isThe First in ChinaA femtosecond laser corneal refractive surgery device with 100% independent intellectual property rights. May 2024,The device has been mass-produced and rolled off the production line in Nanjing., filling the gap in China's high-end ophthalmic surgical equipment field, marking a significant breakthrough for domestically produced equipment in this area.The company hasMore than 10 patents have been obtained, and patent applications are still ongoing, basically achieving the domestic production of core technologies and key components of femtosecond laser corneal refractive surgery equipment in China.At the same timeThe production of 7 devices is currently in full progress, and the first batch of products will be put into use in 6 well-known ophthalmic hospitals in China before the Spring Festival.。An excellent company and a company that takes money from venture capital are two different types of enterprises. During the active period of venture capital, numerous PPT investment anecdotes and storytelling roadshow tactics were widely prevalent.
As the tide recedes and the bubble bursts, investments plummet and the market undergoes a thorough cleansing. On one hand, this presents an unprecedented challenge for entrepreneurs who have yet to firmly establish themselves; on the other hand, the current economic environment can also identify true value.
FineVision Receives Favor from Venture Capital Institutions,The reason lies in its focus not only on developing cutting-edge advanced products but also on laying out plans for overseas markets from the very beginning of its establishment.In the same year that FineVision was established, the "Femtosecond Laser Corneal Refractive Surgery Device Development Project" led by FineVision was selected for the 2022 National Key Research and Development Program of China.
China introduced laser corneal refractive surgery in 1993. Twenty years later, Zeiss launched the world's first SMILE procedure device globally. To date, its product VisuMax remains the only device worldwide capable of performing the SMILE procedure, and the Chinese market contributes over half of the global value for Zeiss’ SMILE procedures.
Professor Zeng Shaoqun from the Wuhan National Laboratory for Optoelectronics, who has been deeply engaged in the field of femtosecond laser microscopic optics for nearly 30 years, is the chief scientist of FineVision. In 2014, the year after the world's first all-femtosecond surgical device was launched, Professor Zeng initiated research on femtosecond surgical equipment.
China's myopic population is approximately 600 million people, with the penetration rate of SMILE surgery being less than 0.3%. Referring to the growth rate of similar surgeries in the United States, it is assumed that the domestic penetration rate increases by only 0.02% annually.It is expected that by 2025, the market size of SMILE in China will approach 55 billion yuan., paying Carl Zeiss around one billion yuan in startup fees and consumables costs in just one year.。
The price of a full-fledged femtosecond surgery device is in the tens of millions of RMB, and each surgery requires a patent fee to be paid to Zeiss. According to disclosures, the startup cost for a full-fledged femtosecond surgery for both eyes is around 8,000 RMB, and the annual volume of myopia surgeries in China is close to one million.
With a clear market prospect, FineVision has attracted the attention of venture capital institutions, and more than 50 venture capital firms negotiated last year alone.。
In line with its own development goals, FineVision has chosen a different strategy from the fundraising-first and market-value maximization approach. According to the logic of investors, the first problem medical entrepreneurs need to solve is to obtain national approval, then proceed to animal experiments, human trials, and at different stages, initiate financing to gradually increase market value.
FineVision has focused on the final application of its products from the very beginning, inviting medical teams to participate in the R&D process and driving innovation to address real-world challenges.Although the early R&D cycle is relatively long, when the company receives national approval, the product maturity is relatively high. The demand for femtosecond ophthalmic surgery is substantial, with high technical barriers and strong consumer attributes, which makes FineVision confident about the future. Amidst the spread of anxiety on social platforms and self-media, Cao Feng reminds his team to focus on the company's development over the next 5, 8, or even more years, avoiding a speculative mindset chasing short-term trends.
Fortunately, FineVision's strategy has won the favor of many investment institutions. A well-known venture capital institution said to Cao Feng: "Even if we don't end up cooperating, we will still support you. We hope that Chinese companies can make breakthroughs in the femtosecond field."
# Innovative Product: Finevision2000FineVision's Finevision2000 is a femtosecond laser device developed for the field of refractive surgery. After nearly a thousand animal experiments and laboratory studies,The safety, precision, consistency, and reliability of the device have reached a level suitable for human clinical trials.Its innovative design and core technology not only meet the needs of correcting myopia and astigmatism but can also be applied in fields such as corneal transplantation.Core Technology Highlights:1. High-stability femtosecond laser and 3D scanning system:Ensured the accuracy of the surgery and the safety of the operation.2. Corneal Biomechanical Feedback Parameters:Significantly enhance the safety of the surgery.3. Laser Cutting Center Secondary Positioning:Improve cutting precision.4. Postoperative Feedback System:Provide postoperative effect evaluation to improve patients' visual quality.5. AI Personalized Surgical Plan:Support personalized treatment plan design through human-computer interaction interface.These features enable FineVision 2000 to approach the precision and operability of imported counterparts, while achieving better postoperative outcomes through technical optimization.# Development Process and Team BackgroundThe research and development of FineVision began in 2014, led by Professor Shaoqun Zeng's team from the Biomedical Photonics Research Department of the Wuhan National Laboratory for Optoelectronics at Huazhong University of Science and Technology. After eight years of technical accumulation, the team completed the transformation of its scientific achievements in 2022, established FineVision, and was selected as a key national R&D project in China.Chief Scientist:Professor Shaoqun Zeng, one of the pioneers in femtosecond laser biomedicine research in China, has been dedicated to this field for nearly 30 years. His research achievements have been widely applied in areas such as neuronal network imaging and three-dimensional laser processing, forming the core technical foundation of the FineVision2000 device.General Manager:Cao Feng, a serial entrepreneur in the medical device field, has successfully led his team to commercialize domestically-produced neurointerventional equipment. With extensive experience in corporate strategy, financing, and regulatory submissions, he has clearly proposed a "two-step" strategy for the company: first, achieve domestic substitution, then expand into international markets to compete with global brands.As of the date of publication, the company's financing history is as follows:Angel Round Financing (2023): Raised nearly 50 million yuan for product development and industrialization.Series A Financing (2025): Raised over 100 million yuan to provide sufficient funding support for clinical trials and market launch.
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