NeuroEchos Secures Nearly RMB 100 Million Series A Funding to Advance Brain-Computer Interface and SEEG-Based Neurological Solutions

VCBeat (WeChat: vcbeat) learned at the first time,On February 22, 2022, NeuroEchos Medical (Shenzhen) Co., Ltd. officially completed its Series A financing round led by Shanghai Sunland Investment Management Co., Ltd., with participation from SHENZHEN CO-POWER CAPITAL MANAGEMENT CO. LTD. and Shenzhen HTI Group Co., Ltd. VCBeat served as the exclusive financial advisor for this financing round.

NeuroEchos Medical (Shenzhen) Co., Ltd. was founded on August 24, 2017, in Shenzhen, China. To date, it has completed five rounds of financing. Previous institutional shareholders include Cornerstone Capital, Yanghe Changfu, Aoyin Capital, YuanSheng Ventures, and Huayi No.1, among other investment institutions. Among them, Cornerstone Capital, Aoyin Capital, YuanSheng Ventures, Shenzhen HTI Group Co., Ltd., and SHENZHEN CO-POWER CAPITAL MANAGEMENT CO. LTD. are all strategic affiliate funds of Shenzhen Angel Mother Fund. This also makes NeuroEchos the neuroscience-oriented technology innovation enterprise with the highest number of continuous investments by Shenzhen Angel Mother Fund since its establishment in 2018.

Over the past four years, NeuroEchos has closely focused on key underlying elements with "three fundamental" attributes (basic research, infrastructure, and fundamental technology). Through its solid, rigorous, and efficient industrialization process in critical areas such as SEEG, big data, and artificial intelligence,NeuroscienceAndBrain-inspired Artificial IntelligenceDirection, rapidly growing into a leading seed player in the domestic brain science track that "is based in Shenzhen, radiates across China, and faces the globe."

NeuroEchos Medical (Shenzhen) Co., Ltd. CEO Yang HuanStated: "The funds from this round of financing will be used to continuously promote the industry-university-research cooperation, R&D, clinical trials, certification, and commercialization of multiple NeuroEchos products under FDA, CE, and NMPA frameworks. At the same time, we will accelerate the development of a series of intelligent SEEG tools and the industrial implementation of the 'NeuroGIGE' super factory. NeuroEchos will focus on the field of brain science, especially on 'protecting the brain.'"’'Basic Interface, Basic Technology, Infrastructure' in the Field’Carry out fundamental layout to build 'the world's best deep brain electrodes (IOT end), the best EEG recording tools (SaaS platform), and the best EEG analysis engine (AI algorithm)' to enhance the foundational innovation capability in handling massive deep brain data (TB level) in the fields of brain science and neurological disorders. Empower scientists and clinical experts within the field to accelerate the exploration of potential pathogenic mechanisms of neurological disorders; while improving the efficiency of epilepsy diagnosis and treatment, also provide a more efficient intelligent tool matrix for more functional neurological diseases.

Gu Shenghan, Executive Director of Shanghai Sunland Investment Management Co., Ltd.Stated: "Surgical resection is an important treatment for drug-resistant epilepsy, and SEEG technology, as the best solution for precise preoperative localization of epileptogenic zones, has been rapidly promoted and applied in clinical settings in Europe, America, and China in recent years. NeuroEchos has started with SEEG products that are highly performant, fully functional, and possess significant differentiation advantages, and is widely deploying innovative medical devices related to brain diseases as well as AI and SAAS tools. Sunland is honored to participate in this round of financing. We have high regard for the professional, open-minded, and globally visionary NeuroEchos team, and we look forward to fully leveraging Sunland's industry resources to help NeuroEchos become a leading integrated hardware and software solutions platform in the field of brain science as soon as possible."

Alvin Zheng, Partner of SHENZHEN CO-POWER CAPITAL MANAGEMENT CO. LTD."SHENZHEN CO-POWER CAPITAL MANAGEMENT CO. LTD.'s investment team has been continuously focusing on the field of brain science for a decade, deeply understanding the pain points and difficulties in the industrialization of brain science. Contrary to the general belief that non-invasive brain-computer interface technology represents the future of the industry, the team has always believed that invasive brain-computer interface technology is a crucial path for humanity to unlock the black box of the brain. This is not only about the logic of engineering and technical solutions but also about how to obtain underlying data of the human brain 'more directly, with higher quality, and on a larger scale.' This is also an important factor why SHENZHEN CO-POWER CAPITAL MANAGEMENT CO. LTD. values the NeuroEchos team, which naturally contains TMT genes, in achieving 'better, faster, and larger scale.'’"In terms of carrying brain science digitalization, it has incomparable industrial advantages over many other hardware-based medical startup projects. At the same time, as a strategic affiliate of Shenzhen Angel Mother Fund, it is also an inevitable choice to continuously invest in innovative enterprises with local advantages in Shenzhen."

Lü Zhuoyu, Investment Director of Shenzhen HTI Group Co., Ltd.Stated: "This time, Shenzhen HTI Group Co., Ltd. jointly invested in NeuroEchos Medical (Shenzhen) Co., Ltd., not only adhering to the mission of serving small and medium-sized technology enterprises, but also because NeuroEchos is one of the key '20+8 Future Industries' that Shenzhen will strongly support during the 14th Five-Year Plan period.’A leader in the field of brain science and brain-inspired artificial intelligence, as well as a high-tech enterprise that has grown from scratch in Shenzhen. Shenzhen HTI Group Co., Ltd. will continue to support and empower from multiple perspectives, and looks forward to NeuroEchos growing into a globally renowned company in the field of brain science.”

On December 31, 2021, NeuroEchos proposed its global development strategy for the next 3-5 years—“Global Quality, Open Innovation, Customer Satisfaction, Advanced Organization, Industry Leadership,” which echoes the original vision of “Acting Globally, Shaping the Future” when the company was founded. It is believed that through continuous innovation in the field of brain science, NeuroEchos will enable more patients with functional neurological disorders to see a hopeful future ahead. Additionally, on February 22, 2022, a once-in-a-lifetime date filled with "love," NeuroEchos successfully completed its Series A financing round as expected, marking its rise as a promising new star in China's brain science sector.

Shanghai Sunland Investment Management Co., Ltd. was founded in 2014 as a professional healthcare fund focused on early-stage and growth-stage investments in the healthcare industry. The firm concentrates on high-growth medical sub-sectors such as biopharmaceuticals, medical devices (in vitro diagnostics and genetic technology, minimally invasive interventions, implantable devices, minimally invasive surgical instruments, and medical robotics), and has invested in nearly 40 outstanding medical companies. The core team of Shanghai Sunland Investment Management Co., Ltd. consists of top professionals from the medical field, including founders of listed companies with over two decades of industry experience, as well as experts in biotechnology and medical equipment. They possess a profound understanding and extensive experience in the essence of medical sub-sector industries and the long-term development patterns of the sector, providing precise and efficient support to accelerate the rapid growth of their portfolio companies.

SHENZHEN CO-POWER CAPITAL MANAGEMENT CO. LTD. was founded in 2013 as a private equity investment institution that has long focused on the TMT and new economy sectors. Since its establishment, with its deeply rooted industrial investment logic and mature professional investment capabilities, SHENZHEN CO-POWER CAPITAL MANAGEMENT CO. LTD. has issued and been entrusted to manage multiple government-participated funds from the National Development and Reform Commission, the Ministry of Science and Technology, and Shenzhen City, among others, with assets under management reaching 6 billion yuan. Past investments include high-profile projects such as Shanda Games, Yaoshi Bang, China Unicom Payment, Montage Technology, and Unilumin Lighting, making these companies important industry partners.

Shenzhen HTI Group Co., Ltd. was established in 1994 as a professional financial services institution set up by the Shenzhen Municipal Committee and Municipal Government to address the financing difficulties of small and medium-sized technology enterprises. It holds the highest AAA credit rating in the capital market. Currently, the group has a paid-in capital of 13.8 billion yuan, net assets exceeding 23 billion yuan, and total assets surpassing 38 billion yuan. Over the past two decades, Shenzhen HTI Group has adhered to its mission of serving small, medium, and micro technology enterprises, growing alongside numerous small and medium-sized technology companies. Enterprises it has supported, such as Huawei, BYD, Skyworth, Han's Laser, and Hytera, have become well-known domestically and internationally. High-tech companies like Wolwo Advanced Materials, XingSen Technology, O-Film Tech, and Dongjiang Environmental have emerged as industry leaders. The group has successively assisted over 340 companies in going public through domestic and overseas listings.

StartPointAdvisors was founded in 2020 as a financial advisory firm specializing in the healthcare industry. As one of the most active emerging healthcare financial advisors in the Chinese market in recent years, StartPointAdvisors has successfully completed over 20 significant transactions since its establishment, with a total transaction value exceeding 5 billion yuan. The team at StartPointAdvisors comes from well-known institutions within the industry and possesses extensive professional experience. The company currently has offices in Beijing, Suzhou, and Guangzhou.