Top 10 Medical Device Financing Events in China Q1 2025: Surgical Robotics, Vascular Intervention, and More Sectors Flourish

No. 1 EverBridge Completes Over RMB 1 Billion in Series A Financing

On March 25, 2025, EverBridge Group announced the completion of its Series A financing round, with the amount raised exceeding RMB 1 billion. This round of financing was led byLead Investment by FountainVest Partners，Co-invested by Beijing Medical and Health Industry Investment Fund and Beishang Capital, which will help EverBridge Group accelerate product R&D and commercialization layout, further consolidating its leading position in the field of innovative treatments for high-prevalence 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 the “Institute of Frontier Medical Technology” and the technical 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 “EBS™ Excellence System” lean value management framework, the Group has realized “one-to-N” multiplicative growth in commercial value. With its superior product quality, comprehensive product portfolio, efficient production capabilities, and robust sales and distribution network, EverBridge has earned widespread recognition.

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 Ventures, Junshan Capital, and other institutionsJoint Participation.

The company has completed 12 rounds of financing to date, with investors including SoftBank, Yuanjing Capital, Qianhai Fund of Funds, and Guozhong Venture Capital,IDG Capital, Volcanic Stone Investment and other institutions, with cumulative financing amounting to billions.

On March 3, 2025, Pulnovo 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 Investment, meanwhile, existing investorsOrbiMed and Gaorong VenturesAn oversubscribed follow-on investment was also secured. This financing round represents the largest in the innovative medical device sector in the Asia-Pacific region.

Pulnovo 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 centered on technological innovation, the company has rapidly emerged as a prominent player in the industry.

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, Chuangkechuangtou Fund, eGarden Ventures, Qingsong Capital, K2VC, and Meituan Longzhu.The proceeds will accelerate the Company’s commercialization, R&D of new surgical robot products, clinical trials, and global business development and partnerships.

Cornerstone Robotics remains committed to independent innovation, striving to build a safe and efficient surgical robot platform. After five years of rapid and high-quality development, Cornerstone Robotics has established three R&D centers worldwide, fully mastering core technologies including mechanical architecture, electrical architecture, software architecture, complex algorithms, and visual imaging, thereby independently constructing the underlying technology platform for surgical robots. The company also operates a mass-production factory exceeding 10,000 square meters in the Greater Bay Area, successfully achieving “independent R&D and independent manufacturing” of surgical robots. 2024 marks the first year of commercialization for Cornerstone Robotics, with its independently developed Sentire^®The endoscopic surgical robot was officially approved for market launch by the National Medical Products Administration (NMPA) of China on September 29, 2024.

On March 12, 2025, Tupai Medical successfully completed the financing round led bySocial Security Fund Zhongguancun Independent Innovation Special Fund (managed by Legend Capital), Beijing Robotics Industry Investment Fund, Qiming Venture PartnersThe total scale of the joint investment reached the RMB 500 million level for the Series E financing round.

Topcon (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 transformation of scientific and technological achievements at Tsinghua University, Topcon 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 Tsinghua Industrial R&D Institute. 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”) was officially listed, 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, bringing its market capitalization to RMB 13.739 billion. The issue price was RMB 6.7 per share, and the market capitalization at issuance was RMB 2.868 billion.P/E Ratioat 28.03 times, with an issued share capital of 64.249446 million shares,The fundraising amount for this issuance is RMB 430 million., the funds raised by Chaoyan Co., Ltd. are primarily allocated to the R&D and industrialization of medical imaging products, the R&D of industrial non-destructive testing systems, the R&D, industrialization, and market development of portable DR systems, and the construction of innovation bases.

January 13, 2025, miRNA Technologies and Mirxes, a pioneer in cancer liquid biopsy, announce collaboration withCB Capital’s Ruiqiao Credit FundSecured a $40 million strategic financing round to support MiRui’s rapid growth and expansion into key global markets.

This $40 million financing adopts a medium-to-long-term non-dilutive structure, aimed at accelerating the market launch and commercial expansion of MiRXES’ core product, GASTROClear™, in the Asia-Pacific region, while also expediting clinical validation of other pipeline candidates, thereby providing long-term and flexible financial support for the company.

In January 2025, Suzhou Insitess Intelligent Technology Co., Ltd. (hereinafter referred to as "Insitess") completed a Series C financing round amounting to hundreds of millions of yuan, led byLed by the Service Trade Innovation and Development Guidance Fund,Oriza Holdingsand follow-on investment by Luxin Venture Capital, an existing shareholder of Inscit. This round of financing marks another significant milestone in Inscinst’s history of rapid development. The funds will be used for the innovative R&D of the company’s new product pipeline and the expansion of production capacity, injecting strong momentum into Inscinst’s global strategic layout in the biopharmaceutical field.

This round of financing is led byQiming Venture Partners led the investment, with Sunshine Ronghui Capital participating as a co-investor.. StarBridge Capital served as the exclusive financial advisor. This financing will provide significant financial support for Nuomei Innovation's market expansion and product R&D, furthersteps to help the company continue to lead in the ENT and cranio-spinal surgical instrument sector.

March 17, 2025Recently, Sanyou Medical received RMB 214 million in strategic investment.Fang WeiChina Asset Management, Zhongtai Securities (Shanghai) Asset Management, Oriental Jiafu, Nuode Fund, Ruizhong Insurance, Agricultural Bank of China, GF Securities, Industrial and Commercial Bank of China, Dacheng Fund, Caitong Fund。Through this financing, Sanyou Medical successfully acquired a portion of the equity in Shuimu Tianpeng, further enriching the company's product portfolio.

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