Source: Lieyun Network.
Recently, TowardPi, a developer of ophthalmic medical devices, has completed its D-round financing of 200 million yuan. This round of financing was led by Matrix Partners China, with follow-up investments from GTCapital and other institutions.
TowardPi's CEO, Wang Yingqi, stated: "From the optoelectronic core technology of Tsinghua University’s Electronic Engineering professorial team to the practical needs of clinicians; from breakthroughs in individual key components to the birth of a series of pioneering high-end products—TowardPi has consistently implemented the R&D philosophy of integrating 'industry, academia, research, and medicine.' TowardPi hopes to drive the innovative development of China's medical optoelectronics industry, continuously transforming new technologies and discoveries from research institutions and clinical frontlines into new products and functionalities for the benefit of patients worldwide."
Xu Chuansheng, founding managing partner of Matrix Partners, stated: China has the largest number of patients with common eye diseases. With the popularization of electronic products and the aging population, clinical demands in the ophthalmology field continue to rise, driving the rapid development of the market for precise diagnosis and treatment in ophthalmology. In just a few years since its establishment, TowardPi has broken the import monopoly through fundamental independent innovation. It has already taken a leading position in multiple product lines domestically and has made breakthroughs overseas. We look forward to the company becoming a globally competitive high-end equipment platform for ophthalmic diagnosis and treatment.
TowardPi (Beijing) Medical Technology Co., Ltd. was established in October 2017. Its core technology originates from the transformation of scientific and technological achievements at Tsinghua University, with a core technical team composed of dozens of Tsinghua faculty, students, and alumni. Since its establishment, the company has achieved breakthroughs in multiple categories of high-end ophthalmic equipment through the vertical integration of clinical ophthalmology needs, innovative system functions, and high-performance upstream components.
Currently, TowardPi has completed the layout of four major product lines: OCT, microscope, ultra-wide-angle camera, and biometer. Its ongoing projects, such as phacoemulsification and vitrectomy, femtosecond laser, etc., have also made key progress.
TowardPi Medical, since its establishment, has been based on the resources of optoelectronic enterprises and research institutions in China, focusing on the R&D of key optoelectronic components. When the product system functions are limited by components, it can achieve performance breakthroughs vertically through underlying technologies. This model has also driven technological progress in the field of optoelectronic components in China for medical purposes, demonstrating the direct promotion effect of new quality productivity on medical equipment enterprises.
According to the "Blue Paper on the Status Quo and Future Development Trends of the High-End Ophthalmic Equipment Industry" released by Frost & Sullivan, TowardPi's ophthalmic OCT products have achieved a 27% market share in public hospitals in China in 2023, ranking first in the domestic market. It is also the first Chinese company to achieve a "full product line" layout in high-end ophthalmic medical equipment.
In addition, TowardPi's products have been successfully sold and installed in many countries such as France, Italy, Switzerland, the Netherlands, and Greece. Overseas revenue has started to grow, and the globalization strategy is gradually improving.