Pingfanghe Secures Hundreds of Millions in Series B Funding, Advances Industrial Vision Solutions for Pharma and MedTech

Oct 18, 2024 12:17 CST Updated 12:17

Sigma Squares

Intelligent Vision Equipment and Software Developer, Provider of Comprehensive Enterprise-level Vision Solutions

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Recently,Sigma Squares Officially Completes Series B Financing.This round of financing was led by TC Capital, with participation from Oriza Ventures, Yahu Investment, Yunhui Capital, Xiangcheng Golden Control Capital, Entropy One Capital, and Boxin Capital, totaling several hundred million RMB. With the support of the capital market, Sigma Squares will continue to strengthen its efforts in technology research and development, product iteration, and market expansion, further consolidating its leading position in the industry.

Boyu Capital led the Pre-A round of financing for Sigma Squares in 2019.

The following content is from: Sigma Squares

01.The Pioneer of Cloud Vision Intelligent Manufacturing

Sigma Squares has been deeply engaged in the industrial vision field for 7 years, strategically positioned to provide comprehensive solutions for intelligent visual inspection equipment and industrial internet data services. Starting from the demand side of intelligent manufacturing inspections, the company has developed a series of industrial vision products and technologies with extremely high technical barriers. The company currently owns five major product lines: the Sirius software suite (enterprise-level cloud vision software suite), the Insvis product series (transparent material product inspection), the Pharmvis product series (large-scale pharmaceutical production inspection system), the Tipvis product series (high-performance touch control inspection platform), and the Medivis product series (medical consumables production inspection system). In addition to serving the high-end medical device and pharmaceutical industries, its products and services also extend to the semiconductor, 3C, and new energy industries.

Compared with traditional automation and equipment manufacturers, Sigma Squares perfectly combines industrial and automation equipment with its self-developed intelligent software platform, Sirius MPC. By integrating production manufacturing with machine vision inspection data, it provides a complete closed-loop production data system, achieving an overall digital, networked, and intelligent production manufacturing solution, thereby helping manufacturers significantly improve production efficiency and reduce production costs.

AroundCore technologies and products, Sigma Squares owns more than a hundred intellectual property rights and has successively obtained multiple system certifications such as ISO9001.Since its establishment in March 2018, Sigma Squares has been successively selected as a Zhongguancun Golden Seed Enterprise, a Demonstration Unit for Scientific and Technological Innovation in China's High-Quality Development, one of the Top 50 Gazelle Enterprises with High Technology and High Growth in Digital China 2021, a Zhongguancun High-Tech Enterprise, and a National High-Tech Enterprise. In 2023 and 2024, it was respectively included in the list of Beijing's Specialized, Refined, Unique, and Innovative Small and Medium Enterprises and the list of National Specialized, Refined, Unique, and Innovative "Little Giant" Enterprises.

02. The Leader in Ophthalmic Medical Device Testing

Sigma Squares, since its establishment, has focused on defect detection for products with irregular shapes that are difficult and highly complex, particularly in niche sectors such as contact lenses and medical consumables. In just a few years, Sigma Squares' layout in contact lens and transparent material inspection has expanded from an initial point-based deployment of intelligent inspection equipment and systems to various stages of the production process. Through visual inspection, quality control is applied to each stage, covering the entire production line, and then replicated across multiple lines. From detecting physical/surface defects in lens production, it has gradually progressed to full-process inspection across the entire industry chain, including printing, injection molding, demolding, cleaning, and post-inspection packaging, helping customers establish a true "contact lens smart factory" with full-process no-touch operations and full-process traceability.

In 2023, Sigma Squares pioneered the launch of a fully intelligentized production line for contact lenses in the Asian region, achieving the industry's first seamless transition from traditional manufacturing to intelligent manufacturing. This breakthrough has provided a technological driving force for the entire industry’s upgrade and renewal. Since then, Sigma Squares has become a leader in the inspection of ophthalmic medical devices, particularly in contact lenses, boasting world-leading products and technologies as well as the capability to deliver top-tier defect detection equipment. Currently, Sigma Squares serves several renowned contact lens manufacturers across Europe and Asia with its absolutely leading-edge inspection technology and products for ophthalmic medical devices, establishing long-term, in-depth cooperation.

03. Explorer of Large-Scale Pharmaceutical Production Testing

Sigma Squares has also achieved notable R&D successes in large-scale pharmaceutical production testing. The Sigma Squares Pharmvis product line has introduced numerous high-end testing devices and products for solid and liquid testing in the pharmaceutical industry. Flagship products include 360-degree comprehensive visual inspection equipment for tablets, capsules, and soft capsules, as well as various blister pack, medicine bottle, and other packaging inspection equipment. These can serve various enterprises in pharmaceutical production and manufacturing, providing assistance for their intelligent manufacturing transformation, cost reduction, and efficiency improvement.

The company has now established long-term cooperation with leading pharmaceutical enterprises both in China and abroad, such as Sinopharm Group, CR Pharmaceutical, CSPC Pharmaceutical Group, Weigao Group, Yangtze River Pharmaceutical Group, Novartis, and Daiichi Sankyo, and its products and services have received positive market feedback.

Facing Multiple Challenges in Production Efficiency, Cost Control, and Quality Assurance, Sigma Squares' Vision Inspection Solutions for the Pharmaceutical Industry Not Only Significantly Reduce Quality Risks During Drug Manufacturing Through Precise and Efficient Vision Inspection, but Their Real-Time Monitoring and Intelligent Analysis Functions Also Help Companies Identify and Resolve Production Bottlenecks Promptly, Achieving Continuous Optimization of Production Processes, Thereby Enhancing Overall Production Efficiency. Moreover, Automated and Intelligent Inspection Methods Not Only Minimize Manual Intervention and Reduce Labor Costs, but Their Predictive Maintenance and Accurate Scheduling Features Also Effectively Save on Equipment Operation and Maintenance Costs.

Sigma Squares CEO Zhonglun Cai stated"Squared Sum's development is inseparable from the long-term support of the capital providers, the relentless efforts of the team, and the opportunities and trust given by our customers. In the future, Squared Sum will continue to grow rapidly in the medical and pharmaceutical industries and promote the concept of intelligent manufacturing to more manufacturing sectors, providing greater value for the continuous upgrading and development of Made-in-China."

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