Zhitong Technology Secures Nearly RMB 100 Million Series A Funding to Pioneer Domestic Exoscope Solutions for Microsurgery

Dec 16, 2024 09:33 CST Updated 09:33

AINNOVI

Developer of Microscopic External Vision Surgical Systems

Sunland Fund

Professional Healthcare Investment Fund

LINGYI CAPITAL

Venture Capital Firms

WinX Capital

Investment Institutions in the Greater Health Field

VCBeat learned that,Recently, AINNOVI announced the completion of its nearly RMB 100 million Series A financing round. This round was jointly led by Suzhou Aibo Qingshi Biomedical Venture Capital Partnership (Limited Partnership) and Shanghai Sunland Investment Management Co., Ltd., with participation from LINGYI CAPITAL and Chongqing Airuilin. WinX Capital served as the exclusive financial advisor for this transaction and will continue to lead subsequent financing efforts.The funds from this round of financing will be mainly used for the research and development, registration, and market promotion of modular products for surgery and ophthalmology, as well as the complete system of microsurgical endoscopes. This round of financing has introduced numerous investors with industrial resources from listed ophthalmology companies, reflecting the industry's high recognition of AINNOVI.

AINNOVI was founded in 2020, with a strong research and development team dedicated to the research of key technologies in visual perception and intelligent decision-making for microsurgical scenarios. Focusing on ultra-high-definition stereoscopic vision technology and intelligent human-computer interaction technology as the core product line direction, the company has established a development strategy of "computational imaging + industry application." It aims to become a leader in refined visual imaging technology and a global provider of high-end medical imaging modules, equipment, and digital surgical solutions.

Looking globally, the upgrade of surgical microscopes to (digital) microscopic external mirrors represents a potential billion-dollar market. Surgical microscopes are crucial devices for refined microscopic surgeries, with wide clinical applications covering neurosurgery, otolaryngology, ophthalmology, spinal surgery, plastic surgery, and hand and foot surgery. Traditional surgical microscopes require surgeons to look down through the eyepiece with a bent neck, offering a narrow field of view, short focal length, shallow depth of field, and significant human-machine binding. Prolonged use can lead to discomfort in the shoulder and neck muscles and joints. In contrast, microscopic external mirrors allow surgeons to operate in a comfortable position while viewing a 4K 3D display directly. This not only frees the head from human-machine binding but also provides a broader surgical field of view, longer focal length (working range), and greater depth of field. It effortlessly handles tricky angles during special postures, ensuring the safety and flexibility of surgical operations while also caring for the surgeon's health.

AINNOVI's core team members have accumulated a microscopy imaging and reconstruction technology system since the 2012 Tsinghua-301 Hospital medical-engineering research collaboration began, gradually becoming industry leaders. The high-end microscope module products have obtained China's Class II Innovative Medical Device Registration Certificate and have commercial cooperation with imported microscope brands. Currently, more than 100 hospitals in China have completed procurement, installation, and usage. AINNOVI’s complete microsurgery visualization system is about to receive its registration certificate. Once on the market, it will not only provide a comprehensive solution for high-end markets but also bring significant benefits to lower-tier markets: cost-effective, domestically produced mid-to-high-end microsurgical equipment.

AINNOVI^®4K3D Ultra HD Pre-Screen Surgical System

AINNOVI^®4K Ultra HD Fluorescence Microscopy Imaging System

AINNOVI^®Pre-screening Surgical Whole Machine Solution

AINNOVI Founder Hang ShaoAINNOVI: AINNOVI originated from a national project of medical-engineering collaboration, utilizing imaging and intelligent technologies to explore the next generation of novel surgical microscope forms, promoting the digitalization and intelligent development of the industry. AINNOVI will actively leverage its leading technological advantages in microscopic external visualization to become a Chinese expert in microscopic external visualization technology, contributing to the localization of mid-to-high-end surgical microscopes in China and advancing global technological upgrades in the surgical microscope industry with Chinese strength.

Prince Wang, Partner of Suzhou Aibo Qingshi Biomedical Venture Capital Partnership (Limited Partnership)Stated: Investing in AINNOVI is a typical case of our practice of the "Collaborative CVC" venture capital model, which not only fully leverages professional judgment and business synergy value in the ophthalmology field but also reflects strict norms in corporate governance and transaction structuring.

As an indispensable tool in surgical and ophthalmic procedures, the demand for surgical microscopes has experienced continuous rapid growth in recent years. AINNOVI, leveraging the technical foundation of an academician team from Tsinghua University and collaborating with leading tertiary hospitals, has refined its products to meet clinical needs. The company has developed a 4K 3D system and a microscopic external endoscope, creating a globally innovative solution for head-up display surgeries. This has established a differentiated competitive advantage, earning widespread recognition from the medical community and partner manufacturers.

In the future, we will strive to provide more industry and capital support to help AINNOVI lead the wave of domestic production of high-end surgical equipment in China and grow into an innovative surgical equipment and solutions provider with international competitiveness.

Hang Yuankai, Investment Director of Shanghai Sunland Investment Management Co., Ltd.Representation: Medical 3D microscopic external visualization technology represents the future direction of surgical microscopy tools. Its application not only provides surgeons with both breadth and depth of vision but also offers expanded possibilities for digital functions such as navigation, fluorescence, and OCT. AINNOVI, based on its fully self-developed and controllable 3D microscopic and fluorescence external visualization technologies, has developed a series of products including microscopic modules, complete systems, and diagnostic platforms tailored to over 10 specialized departments such as ophthalmology and surgery. These products target both the existing and growing markets of the entire surgical microscopy industry chain. We are confident in the company’s team regarding their control over core technologies, their ability to develop pipeline products, and their execution of market strategies. We look forward to Shanghai Sunland Investment Management Co., Ltd. supporting the company in becoming a globally leading provider of surgical microscopic solutions.

Zheng Lianfa, Founding Partner of LINGYI CAPITALAINNOVI: Surgical microscopes are widely used in various departments of hospitals, and the market is experiencing accelerated growth. Currently, high-end surgical microscopes are largely monopolized by foreign companies, creating an urgent demand for domestically produced alternatives. The core team of AINNOVI comes from an academician team at Tsinghua University and is one of the few providers of high-end surgical microscopes in China. Their products have been installed and utilized in over a hundred top-tier hospitals across China, receiving high recognition. LINGYI CAPITAL is honored to participate in this investment round and looks forward to forming positive interactions with AINNOVI in terms of industry cooperation, strategic planning, and management empowerment, helping the company grow faster and better.

WinX Capital Founding Partner Guowen Zou"WinX Capital is honored to serve as the exclusive financial advisor for AINNOVI's Series A financing, helping the company introduce ophthalmic resource investors. Microscope-based screen surgery is the future trend, and AINNOVI has deep technical reserves in the digital imaging field, with products validated and recognized by international giants. We look forward to AINNOVI's continuous expansion and innovation in the surgical and ophthalmic fields, and we are fully confident that AINNOVI will become a leader in the microscope-based screen field."

About Aibo Qingshi

Suzhou Aibo Qingshi Biomedical Venture Capital Partnership (Limited Partnership) is an industry fund jointly established by AIBO Medical (688050.SH) and Qingshi Asset Management Group. It focuses on investing in the innovative medical device sector, with representative projects including Tiluo Medical, Tupai Medical, Pinqi Medical, Huacuan Bio, Audazis Acoustic, and Sciexome.

About Sunland Capital

Shanghai Sunland Investment Management Co., Ltd. was founded in 2014 as a professional fund focusing on early-stage healthcare industry investments. It targets high-growth sub-sectors such as innovative medical devices, innovative biopharmaceuticals, life sciences, and medical services, and has invested in more than 60 outstanding medical and pharmaceutical companies to date.

About LINGYI CAPITAL

LINGYI CAPITAL was founded in 2022 as an angel investment institution, jointly initiated by seasoned investors and multiple founders of listed companies, with abundant industrial resources. The fund focuses on hard technology, healthcare, and new consumer sectors, with the mission of "accompanying outstanding entrepreneurs from zero to the future," providing comprehensive services for entrepreneurs.

About WinX Capital

WinX Capital is a leading healthcare investment bank in China, with headquarters in Beijing and Shanghai, and offices in Shenzhen and Hangzhou. It has been awarded "Top 1 Financial Advisor in the Medical and Health Field for 2022 and 2023" by First Xinsheng, "Top 2 Best Financial Advisor in the Medical and Health Field for 2021-2022" by Qimingpian & Xinsheng Chuangfu, and "Top 100 Future Healthcare Companies 2022-2024 Annual Medical and Health Financial Advisor" by VCBeat, among many other honors.