Top 10 Medical Device Funding Rounds in China (H1 2025): Innovations in Robotics, AI, and Cardiovascular Therapies

On March 25, 2025, EverBridge Group announced the completion of its Series A financing round, raising over RMB 1 billion. This round of financing was led byKangqiaoCapital Lead Investment，Beijing Municipal Medical and HealthKang Industrial Investment Fund and Beishang Capital participated in the follow-on investment, will help EverBridge Group accelerate product R&D and commercialization layout, further consolidating its leading position in the field of innovative treatments for high-incidence chronic diseases.

EverBridge Group is a leading Asian medical technology group that adheres to the core philosophy of “rapid, high-quality scalability.” Leveraging its platform-based advantages, the Group precisely captures global industry trends and market demands. By harnessing the research capabilities of its “Institute of Advanced Medical Technology” and the technological strengths of its “Six Shared Core Technology Centers,” EverBridge has successfully achieved “zero-to-one” R&D value creation in the fields of peripheral vascular disease, neuroscience, and integrated oncology diagnosis and treatment. Furthermore, supported by the lean value management system of its “EBS™ Excellence System,” the Group has realized “one-to-N” multiplicative growth in commercial value. EverBridge has earned widespread recognition for its superior product quality, comprehensive product portfolio, efficient production capabilities, and robust sales and distribution network.

On June 20, United Imaging Intelligence Co., Ltd. (hereinafter referred to as “United Imaging”) completed its Series A financing round, with a total scale of RMB 1 billion.This round of financing was led byE Fund Private Equity Fund Management Co., Ltd. and Shanghai International Group Asset Management co-led the investment, with joint funding completed by institutions including Shanghai United Investment, Shengshi Capital, Baolan Investment, Suzhou Venture Capital Group, Junwei Venture Capital, Qingsong Capital, Zhangjiagang Venture Capital, United Imaging Group, and United Imaging Healthcare.

United Imaging Intelligence, an artificial intelligence company under the United Imaging Group, represents the Group’s key strategic layout in the field of AI. The company has successfully launched over 100 medical AI products, dozens of which have obtained NMPA Class III and Class II certifications, as well as U.S. FDA clearance and EU CE marking.

On January 7, 2025, Fourier Intelligence announced that it had recently completed a new round of financing, with the total amount raised in its Series E reaching nearly RMB 800 million. This round of financing was led byGuoxin Investment, Pudong Venture Capital, Zhangjiang Sci-Tech Investment, Zhangke Yaokun Fund, Prosperity7, Junshan Capital, and other institutions jointly participated。The company has completed 12 rounds of financing to date, with investors including SoftBank, Yuanjing Capital, Qianhai Fund of Funds, Guozhong Venture Capital, IDG Capital, and Volcanic Stone Investment, among others, raising a total amounting to billions.

Fourier Intelligence’s core business is primarily divided into two major sectors: general-purpose humanoid robots and rehabilitation robots. The company initially focused on medical rehabilitation exoskeleton robots and, through continuous technological iteration and innovation, has launched over 30 rehabilitation robot products that address various needs in motion rehabilitation.

In April, Shenzhen Core Medical Technology Co., Ltd. (hereinafter referred to as “Core Medical”) completed a Series D financing round of over US$100 million, led byCo-led by renowned institutions including Loyal Valley Capital, Legend Capital, Prosperity7 Ventures (P7) under Aramco Ventures, and CDH Investments, with follow-on investments from Delian Capital and Lianxin Capital. In terms of funding amount, this round represents the largest market-oriented financing in China’s innovative medical device sector since 2025. Core Medical has attracted investor confidence through its breakthroughs in foundational technologies, comprehensive product portfolio across all scenarios, and internationalization strategy, further consolidating its global leading position in the field of artificial hearts.

On March 3, 2025, Pama Medical, a leading enterprise in innovative medical devices, officially announced the successful completion of its Series C financing round, raising nearly USD 100 million. This round of financing was led byQiming Venture Partners and Existing Shareholder Lilly Asia Ventures Co-Led the InvestmentMeanwhile, existing investors OrbiMed and Gaorong Venture Capital also made oversubscribed additional investments. This financing round represents the largest in the innovative medical device sector in the Asia-Pacific region.

Pam Medical has been dedicated to the research and development of breakthrough therapies in the fields of pulmonary hypertension and heart failure since its inception. Leveraging extensive clinical resources and a strategy focused on technological innovation, the company has rapidly emerged as a prominent player in the industry.

In early May, Xinhanglu Medical Technology Co., Ltd. (hereinafter referred to as “Xinhanglu Medical”) announced the completion of its Series B financing round amounting to RMB 600 million. This round of financing was led byMeituan Longzhu Fund and existing shareholder Lilly Asia Ventures (LAV) jointly led the investment, while existing shareholder DragonRock Investment continued to over-subscribe.. According to reports, the proceeds from this Series B financing round will be primarily used to accelerate the R&D and registration clinical trials of Xinhanglu Medical’s core electrophysiology products. This marks another instance of oversubscribed market-based financing for Xinhanglu Medical, following its completion of a nearly RMB 200 million Series A financing round in August 2023.

Xinhanglu Medical plans to further consolidate its technological and product advantages in the global electrophysiology field through technological innovation and product upgrades. The founder and CEO of Xinhanglu Medical stated, “This round of financing will help us accelerate the R&D process and expedite the commercialization of the world’s first ‘five-dimensional’ electrophysiological mapping system and related products, providing patients with more efficient and safer treatment solutions.”

On January 13, 2025, Cornerstone Robotics, a representative Chinese innovative surgical robotics enterprise, announced the completion of its Series C financing round, exceeding RMB 500 million. This round of financing was led byLed by EQT, a major European private equity firm, with participation from multiple professional investment institutions both domestically and internationally, including Qiming Venture Partners, Alpha JWC Ventures, and the Chuangke Venture Capital Fund.. The funds raised will accelerate the company’s commercialization process, R&D of new surgical robot products, clinical trials, and global business development and cooperation.

Conmedus persists in independent innovation, committed to building a safe and efficient surgical robot platform. After five years of rapid and high-quality development, Conmedus has established three major R&D centers worldwide, fully mastering core technologies such as mechanical architecture, electrical architecture, software architecture, complex algorithms, and visual imaging. It has independently built the underlying technology platform for surgical robots. Additionally, it operates a mass production factory covering over 10,000 square meters in the Greater Bay Area, successfully achieving "independent R&D and independent manufacturing" of surgical robots.

On March 12, 2025, Topai Medical successfully completed theJointly invested by the Social Security Fund Zhongguancun Independent Innovation Special Fund (managed by Legend Capital), Beijing Robotics Industry Investment Fund, and Qiming Venture PartnersSeries E financing totaling RMB 500 million.

Toupai (Beijing) Medical Technology Co., Ltd. was established in 2017, with its headquarters located in Changping District, Beijing, and has implemented industry-academia-research layouts in Shanghai, Suzhou, Tianjin, and other regions. As a key project for the commercialization of scientific and technological achievements from Tsinghua University, Toupai Medical was jointly founded by faculty, students, and alumni from various disciplines at Tsinghua University, and has grown under the careful cultivation and incubation of the Beijing Industrial Research Institute of Tsinghua University. The company employs hundreds of staff, with R&D personnel accounting for more than one-quarter of the total workforce. With cumulative investments nearing RMB 800 million, it is one of the larger ophthalmic medical device enterprises in China.

On January 22, 2025, Shantou Institute of Ultrasonic Instruments Co., Ltd. (Stock Code: 301602; hereinafter referred to as “Chaoyan Shares”) officially listed on the stock exchange, with its share price surging by 379% on the first day of trading. The closing price on that day was RMB 32.1 per share, resulting in a market capitalization of RMB 13.739 billion. The issue price was set at RMB 6.7 per share, corresponding to an issuance market capitalization of RMB 2.868 billion and a price-to-earnings (P/E) ratio of 28.03 times. A total of 64.249446 million shares were issued, raising proceeds of RMB 430 million. The funds raised by Chaoyan Shares are primarily allocated to the following projects: research and development (R&D) and industrialization of medical imaging products; R&D of industrial non-destructive testing systems; R&D, industrialization, and market development of portable DR (Digital Radiography) systems; and the construction of an innovation base.

May 14 Announcement: MicroPort Medical’s Subsidiary Expected to Raise HK$458 Million Through Share SaleMicroPort Medical’s indirect wholly-owned subsidiary, Shanghai Mohua, entered into a block trade agreement with J.P. Morgan and China International Capital Corporation (CICC). This agreement permits Shanghai Mohua to sell up to 30.1635 million shares, representing approximately 3.00% of its total issued share capital. The shares were priced at HK$15.50 per share, reflecting a discount of approximately 13.79% compared to the closing price of HK$17.98 on the last trading day. This move aims not only to raise capital but also demonstrates MicroPort Medical’s flexible utilization of the capital markets. Through this placement, MicroPort Medical seeks to secure greater financial support for its operations to address future market challenges.

Meanwhile, Shanghai Medical Robot (02252.HK) also signed a placement agreement with the placement agent, planning to place up to 25.1365 million shares, accounting for approximately 2.50% of its total issued share capital. The successful completion of these two transactions will further help MicroPort stabilize its position in the highly competitive medical industry.