Shenzhen SmartEye Intelligent Technology Files for IPO Following Strategic Investment from Aeon Vision and Langchao Investment

VCBeat (WeChat: vcbeat) has learned that Shenzhen Congmingmu Intelligent Technology Co., Ltd. (which includes Dongguan Congmingmu Intelligent Technology Co., Ltd. and Dongguan Yanmu Intelligent Technology Co., Ltd.) recently completed a strategic financing round amounting to tens of millions of yuan. The investment was jointly made by Aier Eye Hospital Group’s listed company, Opcon Vision (300595.SZ), and Shenzhen Langke Investment. Kaicheng Capital served as the exclusive financial advisor and long-term capital advisor.

Shenzhen Congmingmu, established in 2017, is committed to its mission of helping more people alleviate eye health issues caused by technology through innovation. Positioned as an expert in intelligent eye health management, the company is dedicated to the professional development of smart eye-care products.

Over the past decade, the rapid advancement of electronic technology, coupled with the widespread adoption of smartphones/tablets and the explosion of mobile applications, has led to a surge in global eye health issues. According to the latest data, the number of myopia patients worldwide is growing rapidly, projected to reach 2.62 billion by 2020, accounting for over one-third of the global population; by 2050, the global myopia rate is expected to reach 50%. In China, the number of myopia patients increased from 450 million in 2012 to over 600 million in 2016, with adolescent myopia rates ranging from 46% to 74%, ranking first globally. Dry eye disease has also become the most significant eye health issue after myopia, with an annual growth rate reaching 114.37% of the previous year's figure. By 2019, approximately 360 million people in China were affected by dry eye disease. Currently, patients with dry eye disease account for 40.2% of visits to major optometry centers and ophthalmic hospitals. Specialized outpatient clinics focusing on dry eye disease are gradually emerging in hospitals across China, treating it as a distinct sub-specialty requiring focused attention.

Addressing this landscape, Liu Cheng, founder of Shenzhen Congmingmu, stated, “In response to the development trends of the new era, eye-care scenarios and devices have undergone abrupt changes, making it urgent for traditional eye care to transition toward intelligent eye care. Our ultimate goal is to ensure that every electronic device around our users is accompanied by an eye-health solution featuring one software controlling multiple hardware components. Through internet-based integration in the field of optometry and ophthalmology, we aim to deliver value-added internet services driven by hardware products.”

Shenzhen Congmingmu’s founding team is anchored by ophthalmology experts and former Huawei executives specializing in R&D of health-related smart hardware. Spanning multiple disciplines—including materials science, optics, mechanics, intelligent algorithms, and clinical medicine—the company focuses on developing smart eye-care products. Currently, Shenzhen Congmingmu operates two brands: “Congmingmu,” targeting myopia prevention and control among adolescents, and “Yanmu,” dedicated to eye care for all age groups. With a diverse portfolio of products and services encompassing myopia prevention and control, dry eye protection, screen-time intervention alerts for smartphones and tablets, and an intelligent APP platform, the company has established a leadership position in the eye-care market. The company advanced to the semifinals of the corporate category in the 11th China Shenzhen Innovation and Entrepreneurship Competition and earned numerous accolades, including being named one of the “Top 32 Projects Nationwide” at the Caixin·2019 Lugu “I Want to Invest” event.

Through three years of dedicated efforts in the field of eye health, Shenzhen Congmingmu Company has established multi-dimensional competitive advantages in myopia prevention technologies, dry eye syndrome prevention and management, consumer behavior analysis, and the commercialization of patented technologies. To date, its full product line has secured a total of 31 patents, including 10 invention patents (one of which is under international patent protection), 11 utility model patents, one software copyright, and multiple design patents.

“Smart Eye” is positioned as an “Intelligent Myopia Prevention and Control Expert for Adolescents,” actively responding to the national “Implementation Plan for Comprehensive Prevention and Control of Myopia in Children and Adolescents.” The brand has pioneered a multi-scenario myopia prevention and control product line, represented by the “Writing Pad Myopia Prevention Robot,” “Mobile Phone Companion Key Prevention Robot,” “TV Myopia Prevention Robot,” and “Intelligent Anti-Myopia Magic Clip.” These products form the “Smart Eye” series, featuring functions such as intelligent reminders, health monitoring, black-screen supervision, and data reporting. Leveraging an IoT architecture, the series provides comprehensive coverage across learning, mobile phone use, TV viewing, and outdoor activities to prevent and control myopia in adolescents. Furthermore, through big data analytics, it offers optometry centers, ophthalmology clinics, and eye hospitals comprehensive diagnostic and training references for myopia prevention and control, effectively addressing parents’ key concerns regarding adolescent myopia management. Many of the product’s technologies are first-of-their-kind in China.

“YoungMore” is positioned as an “intelligent eye care expert for all age groups,” specifically providing innovative smart eye care products and systems for the growing number of dry eye patients, as well as users of cosmetic contact lenses and orthokeratology (OK) lenses. Represented by the YoungMore spray-type drug delivery device, the brand offers users a professional and portable new approach to eye care. Based on current market conditions, the spray-type drug delivery device integrates cutting-edge scientific technologies for comprehensive innovation. After three generations of product updates and upgrades, it has achieved disruptive innovation with the development of its 4.0 version. Unlike traditional eye drop squeezing methods, the YoungMore spray-type drug delivery device features a custom-developed high-frequency vibration mechanism and chip tailored to the composition and density of the ophthalmic solution. This technology atomizes the eye drops into particle sizes optimal for ocular absorption, effectively relieving dry eyes, gritty sensations, and visual fatigue. Furthermore, its user-friendly operation provides superior differentiated value and convenience for the general public, enabling easy use by children and the elderly suffering from eye conditions. In terms of safety and hygiene, the YoungMore spray-type drug delivery device is manufactured in strict accordance with medical device production standards, and incorporates antimicrobial mechanisms both internally and externally to ensure hygienic use. Since its market launch, the product has established deep collaborations with numerous professional pharmaceutical manufacturers, hospitals, optometry centers, and large chain optical stores. It has received high acclaim from Professor Liu Zuguo, known as the “Father of Dry Eye” in China, and garnered positive feedback from many customers, achieving an absolute pioneering and leading position within the industry.

In recent years, Shenzhen Smart Eye has continuously expanded its industrial chain layout, partnering with over 100 ophthalmic hospitals and clinics, including Aier Eye Hospital, He's Eye Hospital, and the General Hospital of Shenzhen University. It also collaborates with more than 1,000 leading enterprises in the sales of optometric products, such as Doctor Glasses, Baoshida Glasses, Weishi Glasses, Aicheng Optometry Center, and Baoshili Optometry Center, providing eye health services to tens of thousands of customers across China through multiple channels.

Cheng Xiaohua, Chairman of Shenzhen Netac Investment, stated, “We chose to invest in Congmingmu primarily because their products demonstrate significant social and commercial value. First, protecting the vision of adolescents holds substantial social value. Today’s children spend excessive time on mobile phones, tablets, and watching television, and often maintain improper posture during classes and while doing homework, all of which severely impact their eyesight. Congmingmu has made corresponding efforts in the prevention, intervention, and protection against myopia through its products and services, which is highly valuable and meaningful to society. Furthermore, the demand for Congmingmu’s products and services from many nearsighted primary and secondary school students, adults suffering from eye fatigue, and patients with dry eye syndrome underscores that their offerings possess both social and commercial value. We hope to continue supporting Shenzhen Congmingmu in the future and contribute to the cause of eye health in China.”

Liu Cheng, founder of Shenzhen Congmingmu, stated, “We extend our sincere gratitude to our strategic investors, Autek China and Shenzhen Longco Investment. Embracing a mindset of open collaboration and innovative win-win partnerships, we welcome more investors, distributors, technology partners, and outstanding talents to join our family. Congmingmu will work hand in hand with all partners to remain dedicated to R&D in the field of human eye health, focus on providing eye health management services for every individual, help more people address their eye health concerns, and drive the rapid development of China’s ophthalmology industry.”

Dr. Zou Guowen, Founding Partner of Kaicheng Capital, has previously led multiple investment and M&A projects in the ophthalmology sector. Dr. Zou believes that Shenzhen Congmingmu has built a multidisciplinary moat encompassing materials science, optics, mechanics, intelligent algorithms, and clinical medicine, while also launching several hit consumer-facing products. These innovations are poised to ignite the eye health market, offering boundless prospects.