Vistel Secures Nearly RMB 100 Million Series B Funding to Empower Global Eye Health Management with AI

VCBeat (WeChat: vcbeat) has learned that recently, a global leader in the field of artificial intelligence for eye health — Beijing Vistel Technology Co., Ltd. (hereinafter referred to as "Vistel") — has announced the completion of its Series B financing round of nearly RMB 100 million.

This round of financing was led by Qiming Venture Partners, with existing shareholder Danlu Capital participating in the follow-on investment. The proceeds will be used for team expansion, product R&D, clinical project registrations, and market expansion, further strengthening the company's medical technology capabilities.

Founded in 2016 and co-established by former Intel executive Sun Yuhui and researcher Ding Dayong, Vistel is dedicated to partnering with leading ophthalmology medical teams to deliver AI- and smart ophthalmic hardware-powered solutions for disease screening, diagnosis, and related applications.

Diabetic retinopathy is the most common complication among patients with diabetes. In 2020, up to 30% of diabetic patients in China were affected by diabetic retinopathy; however, due to its typically asymptomatic presentation in the early stages, the diagnosis rate remains below 10%. Furthermore, it is projected that by 2030, China will have 9.5 million patients with retinal vein occlusion and 62.1 million hypertensive patients with hypertensive retinopathy. The financial burden of ocular diseases on society and families amounts to up to 500 billion RMB annually, imposing a heavy strain amid ongoing healthcare cost containment efforts.

Although early screening and treatment for these ocular diseases can be achieved through fundus imaging, the reality is that China has only 32,000 ophthalmologists, with fewer than 6,000 specializing in retinal diseases. This equates to merely 20 ophthalmologists per million people. Given the 5- to 10-year training cycle for ophthalmologists, a rapid expansion of the workforce is virtually impossible in the short term. Hidden within this supply-demand gap lies a vast market opportunity for ophthalmic AI.

Vistel leverages AI-powered fundus image recognition technology to provide non-invasive, accurate, rapid, efficient, and scalable solutions for the early detection and continuous management of eye health and chronic diseases, reducing reliance on specialized and experienced physicians, thereby addressing unmet needs.

Vistel operates an advanced Medical Imaging Artificial Intelligence Laboratory (Vistel AI Lab). The laboratory currently comprises over 20 Ph.D. and master's degree holders from top-tier domestic and international universities, leveraging nearly a decade of technical expertise and medical-engineering integration industry experience in fields such as medical AI, computer vision, deep learning, and multimodal information processing.

Currently, Vistel has developed three ophthalmic AI products: AI for diabetic retinopathy, AI for multi-disease fundus imaging in ocular health, and AI for early glaucoma screening. Among them,“"Computer-Aided Diagnosis Software for Diabetic Retinopathy Fundus Images"It can be used to identify retinal complications in diabetic patients, enabling automated diagnosis across the full disease course of diabetic retinopathy from mild to proliferative stages. It also provides real-time feedback on fundus image quality and performs detection and segmentation of fundus lesions, and has obtained NMPA Class III medical device certification and EU CE certification.

Vistel's“Multi-Disease Fundus Imaging Computer-Aided Diagnostic Software”It is also the world's first multi-disease AI fundus imaging product to receive both EU CE certification and NMPA Innovative Medical Device approval, capable of screening for and assisting in the diagnosis of dozens of common ophthalmic diseases, including retinal vein occlusion (RVO), age-related macular degeneration (AMD) (dry/wet), suspected glaucoma, and central serous chorioretinopathy (CSC).

Vistel Eye Health AI System

Vistel possesses exceptional commercialization capabilities. Through partnerships with terminal channels such as public hospitals, private healthcare providers, health check-up centers, optometry centers, insurance companies, and retail pharmacies, it provides convenient disease prevention and control services to a broad population. Backed by robust technology, Vistel has also pioneered international expansion by partnering with France's Luneau Technology. Capitalizing on this collaboration as a springboard, the company has entered optometry centers and pharmacies across Germany, Italy, Spain, and other nations, becoming the first Chinese medical AI company to expand into the EU market and achieve commercial implementation.

Vistel Founder and CEO Sun Yuhui said“We extend our gratitude to top-tier investment institutions for their recognition of Vistel. Moving forward, Vistel will first continue to amplify its strengths in eye health by deepening the R&D and academic research of ophthalmic AI products. Leveraging its core expertise in health data intelligence technology, Vistel will expand its disease coverage, achieve integrated applications across multiple products, and intensify its initiatives in chronic disease management. Meanwhile, Vistel will also broaden its business segments by developing auxiliary software systems and hardware facilities. Adopting a comprehensive hardware-software integrated strategy, Vistel will lead and participate in the R&D of compact, portable, and cost-effective ophthalmic imaging devices tailored to the Chinese healthcare market, while further expanding its R&D and sales teams to accelerate product commercialization.”

Comprehensive AI Management System for Eye Health

Regarding this round of investment, Zhang Ao, Executive Director at lead investor Qiming Venture Partners, said,“We are highly optimistic about the application of AI technology in healthcare, particularly in the ophthalmology sub-sector, where AI can substantially address the shortage of primary eye care resources. Vistel employs a hardware-plus-software product strategy, boasting industry-leading R&D capabilities that have garnered high praise and recognition in overseas markets. Backed by robust technical expertise, a comprehensive product portfolio, and significant clinical value, Vistel has remained steadfastly committed to delivering professional technologies and services to advance human eye health. We are confident in Vistel’s future prospects and look forward to partnering with the company to harness innovative technologies to solve clinical challenges, serve global health, and bring light and hope to more patients.”

Liang Qiao, Vice President of Investment at Redhill Capital, stated“As AI-powered medical diagnostic technologies transition from the laboratory to commercialization, early disease screening and diagnosis will usher in a transformative era of high efficiency and broad accessibility. Vistel boasts an exceptional medical AI team, a comprehensive product portfolio, and robust clinical data, establishing a significant competitive advantage that holds substantial clinical significance and health economic value for the early detection and timely treatment of diseases. We are delighted to have invested in Vistel, a leading company in this sector in China, and have provided continuous support across multiple funding rounds. We look forward to Vistel becoming a successful benchmark for the efficient implementation of AI in China.”

Qiming Venture Partners was founded in 2006 and has established offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, the firm manages nine USD funds and six RMB funds, with total assets under management reaching USD 5.9 billion. Since its establishment, Qiming Venture Partners has focused on investing in outstanding early- and growth-stage enterprises across industries such as TMT and Healthcare.

To date, Qiming Venture Partners has invested in over 380 fast-growing innovative enterprises, among which more than 130 have realized exits through listings on exchanges such as the NYSE, NASDAQ, Hong Kong Stock Exchange, Taipei Exchange (GTSM), Shanghai Stock Exchange, and Shenzhen Stock Exchange, as well as via mergers and acquisitions, with over 40 companies becoming industry-recognized unicorns and super unicorns.

Danlu Capital is a healthcare-focused investment fund specializing in innovative medical technologies. Co-founded in early 2018 by Lu Qinchao, former partner at Sequoia Capital China, and Su Zhenbo, former partner at Sharing Capital Management, its core team members all hail from renowned venture capital funds and possess extensive healthcare industry resources across China and the United States.

Currently, Redhill Capital manages two RMB funds, with investors including well-known market-oriented funds of funds, asset management companies, government guidance funds, industrial capital, family offices, and listed companies. Redhill Capital continues to deeply focus on the early-stage healthcare sector, systematically investing across multiple domains, including innovative medical technologies such as high-value medical consumables, in vitro diagnostic (IVD) reagents, consumer healthcare, and digital health, as well as innovative drugs and novel healthcare services.