MIL Medical Technology locks up hundred-million-yuan Series B financing, WinX Capital retains exclusive FA role

MIL Medical Technology (Shenzhen) Co., Ltd.(Mil Med Tech), a leading domestic developer of multi-scenario laser medical platforms, has closed a hundred-million-yuan Series B financing round, per disclosures from VCBeat. The financing was led by Guangdong-Hong Kong-Macao Greater Bay Area Guidance Fund, managed by Shenzhen Capital Group Co., Ltd.(SCGC), with follow-on investments from Nanshan SEI Investment and Shunbo Fund. Existing backer Shenzhen HTI Group Co., Ltd.(HTI) boosted its stake in the latest fundraising, while WinX Capital retained its role as the company’s exclusive financial adviser for a consecutive financing round. Proceeds from the Series B will primarily fund clinical registration and commercial rollout of multi-department laser medical devices, iterative R&D of proprietary core laser technologies, and the buildout of the firm’s global sales and distribution network.

Standing out among regional investment targets, Mil Med Tech counts as one of the landmark inaugural portfolio picks ofGuangdong-Hong Kong-Macao Greater Bay Area Guidance Fund, a pioneer program under China’s national venture capital guidance fund initiative. Spearheaded by China’s National Development and Reform Commission and Ministry of Finance with a 20-year investment tenure, the vehicle prioritizes seed and early-stage startups spanning strategic emerging and future-focused industries including artificial intelligence, quantum technology and bio-based manufacturing. As the fund’s core asset manager covering the Greater Bay Area, SCGC aligns its investment mantra of backing early-stage, small-sized, long-horizon hard tech startups closely with Mil Med Tech’s developmental stage and deep-rooted tech credentials.

A rare domestic holder of end-to-end independent thulium fiber laser intellectual property, Mil Med Tech has localized the full production chain ranging from chip packaging to finished equipment assembly, hitting a 100% domestic sourcing rate for core components and breaking China’s long-standing reliance on imported high-end medical laser hardware—a longstanding industry bottleneck hampering domestic medical device advancement.

Its proprietary laser architecture delivers differentiated performance advantages across niche therapeutic wavelength bands, not only realizing import substitution but outperforming legacy overseas alternatives on key metrics. Its in-house engineered 1940nm thulium fiber laser boasts four to five times higher water absorption than conventional holmium lasers and confines tissue penetration to a mere 0.1 millimeter, enabling submillimeter-precision surgical interventions and drastically cutting collateral thermal tissue damage. Occupying the peak water-absorption spectrum below 2.5 micrometers, the thulium fiber laser notches a tenfold jump in electro-optic efficiency versus traditional holmium variants alongside superior beam quality. The optimized beam enables seamless coupling into ultra-fine quartz fiber, poised to slash manufacturing costs for finished devices and disposable consumables after scaled mass production. Coupled with high-frequency short-pulse modulation built around semiconductor pump sources, the technology addresses two persistent pain points of conventional holmium laser lithotripsy: incomplete stone pulverization and excessive bleeding during blunt prostate tissue dissection, positioning thulium fiber lasers as a prospective new gold-standard replacement for holmium systems in urological care. Benchmarked against global peers, Mil Med Tech’s homegrown thulium fiber lasers match world-class specs across spectral monochromaticity, beam integrity, thermal management, industrial engineering, reliability and batch production consistency, while slashing overall product costs and lead times each by 60%. The firm now commands over 25% domestic market share across China’s thulium fiber laser industry.

In March 2026, Mil Med Tech took home the Golden Glow Laser Award, widely dubbed China’s equivalent of the “Oscar” for the domestic laser sector, an accolade cementing its standing among the world’s top-tier laser technology developers on behalf of Chinese innovation.

Mil Med Tech’s business footprint spans the full laser medical value chain: upstream laser component fabrication, midstream original design manufacturing(ODM), and downstream finished medical laser device development, alongside end-to-end systematic laser medical solution services for domestic and international industry partners. Its modular core technology features robust clinical adaptability, supporting an array of treatment modalities including soft tissue resection, hard tissue ablation, kidney stone fragmentation, and cosmetic pigment lesion removal, with finished products deployed across stomatology, medical aesthetics, urology, gastroenterology and in-vitro diagnostics.

Traditional laser modalities fall short on lithotripsy throughput, hemostatic cutting and thermal damage containment within urology due to low water absorption coefficients. By contrast, Mil Med Tech’s 1940nm thulium fiber laser devices leverage superior water uptake characteristics to deliver minimally invasive, high-precision soft tissue resection, tumor ablation and stone removal with proven clinical efficacy and safety, gaining steady market traction both at home and in overseas territories.

Stomatology has long lacked domestically built thulium laser options amid tradeoffs in conventional equipment balancing hard/soft tissue cutting, hemostasis and fiber coupling performance. Mil Med Tech filled this market gap in 2024 when its proprietary thulium fiber dental laser secured Class III medical device certification from China’s NMPA—the world’s first approved commercial thulium fiber laser system for dental applications. The milestone marked a pivotal breakthrough in China’s drive to localize high-end dental laser hardware, with the product subsequently shortlisted on Shenzhen’s official innovative product promotion catalog.

For medical aesthetics targeting anti-aging, freckle removal, acne therapy and scar revision, Mil Med Tech fine-tunes laser wavelengths and pulse modulation parameters tailored to East Asian skin physiology. Its in-house aesthetic laser hardware is engineered to compete head-on against leading global manufacturers, delivering cost-effective, clinic-friendly devices optimized for Chinese patient demographics.

Fig. MIL MED TECH Builds a Product Matrix for the Entire Laser Medical Industry Chain

Founded in 2020, the Shenzhen-based hard tech firm has channeled consistent investment into laser medical R&D and commercialization, amassing more than 200 intellectual property rights to erect a formidable technological moat. Its in-house ODM/CDMO platform supplies full-lifecycle manufacturing solutions for industry partners from core laser parts to complete finished systems, while its portfolio of nearly 30 self-developed laser products powers diverse therapeutic and diagnostic laser use cases and resolves critical domestic component dependency issues, with growing export sales worldwide. The company’s long-term corporate roadmap centers on constructing a globally influential laser medical ecosystem to expand access to China’s cutting-edge minimally invasive laser therapies across international markets.

Certified as a National High-Tech Enterprise and Guangdong Provincial Specialized, Refined, Unique&Innovative(SRUI) Enterprise, Mil Med Tech’s roster of core talent features awardees including Suzhou-Zhangjiagang Leading Talents, Jiangsu Double Innovation Talents and Shenzhen High-Level Talents. Key founding team members hold degrees from Tsinghua University’s Department of Precision Instrument, and over 80% of its senior management hails from leading domestic and global medical device developers. The enterprise’s nearly 100-person R&D cohort unites cross-disciplinary specialists from clinical medicine, medical engineering and optoelectronics sectors.

This fusion of top-tier academic credentials and proven industrialization expertise underpins Mil Med Tech’s core competitive edge and fuels its sustained outperformance in China’s domestic medical laser arena.

Dr. Dai Yixiang, Mil Med Tech’s Chief Executive Officer, outlined the firm’s industry outlook in an interview: “As next-generation energy-based surgical tools built around minimally invasive and rehabilitative care principles, medical lasers enable less traumatic incisions, integrated intraoperative sterilization, cutting and hemostasis with manageable procedural pain, plus accelerated post-op wound healing and lowered infection risk. Laser-based interventions are poised to penetrate ever more clinical departments, improving patient outcomes and equipping clinicians with superior therapeutic instruments.” Mil Med Tech’s end-to-end industrial layout has already matured into a full-fledged laser medical ecosystem; alongside rolling out proprietary innovative hard tech products, the firm collaborates with industrial allies to accelerate cross-department clinical adoption and monetization of its laser platforms.Investor representatives shared upbeat outlooks on the company’s growth trajectory post-financing.

A spokesperson from Nanshan SEI Investment commented: “Mil Med Tech stands as a flagship homegrown hard tech enterprise nurtured within Shenzhen. Its thulium fiber laser platform delivers inherent strengths in precision targeting, minimal tissue trauma and flexible fiber-guided delivery, trumping incumbent imported alternatives with generational advantages in cost, operational efficiency and procedural safety. We highly rate the team’s robust commercialization execution, and the modular technology carries substantial clinical value and deployment potential across multiple medical disciplines. Nanshan SEI Investment will continue backing Mil Med Tech’s Shenzhen-based expansion, expediting product registration and market clearance to bolster the Greater Bay Area’s high-end medical device industrial cluster.”

Sun Yanbing from Shunbo Fund noted: “Shunbo Fund maintains deep focus across the full medical device supply chain, with a specific tilt toward upstream platform developers capable of full in-house core component development. Mil Med Tech’s end-to-end breakthrough spanning chip encapsulation to complete laser system integration and full domestic core component localization renders it an exceedingly scarce domestic investment target. Backed by a team blending elite academic backgrounds and verified industrialization track records, we affirm the company’s formidable technological barriers and platform upside and will leverage the fund’s industrial resources to foster its evolution into a global medical laser leader.”

An official from Shenzhen HTI Group added: “As a longstanding early investor, we have tracked Mil Med Tech’s journey from lab-scale technical breakthroughs to full-fledged product commercialization and witnessed the team’s exceptional execution capabilities. Our follow-on investment stems from confidence in its multi-department market expansion edge and imminent large-scale revenue expansion. HTI will keep leveraging our comprehensive financial service toolkit to serve as a dependable long-term financial partner safeguarding the firm’s rapid scaling.”

Zheng Yexin, Greater Bay Area Head, and Zhao Yuning, Co-Head of Medical Devices Group at WinX Capital, weighed in on their ongoing advisory mandate: “We are honored to continue serving as Mil Med Tech’s exclusive financial adviser through successive financing rounds. Few domestic medical firms command an integrated underlying tech platform spanning core laser component manufacturing, finished medical equipment production and proprietary clinical treatment protocols. Its versatile technology already unlocks massive clinical value in stomatology, medical aesthetics and urology, with untapped upside ahead in neurosurgery and otorhinolaryngology. Securing institutional backing from state-backed national VC funds validates both its genuine hard tech pedigree and promising commercialization prospects. We remain confident Mil Med Tech will emerge as China’s benchmark enterprise within the global medical laser industry.”