Xin Zeyuan Completes Nearly RMB 100 Million Series B+ Financing to Drive Innovation in Minimally Invasive Medical Device Supply Chain

VCBeat has learned that, recently, a minimally invasive surgery supply chain platform companyHANGZHOU XINZEYUAN PRECISION PRODUCTS CO.,LTD (hereinafter referred to as “XinZeyuan”)Announced the successful completion of a Series B+ financing round nearing RMB 100 million. This round was led byShunbai FundandSanmei InvestmentCo-investment, Existing ShareholdersQiming Venture PartnersContinuous Investment,Dianshi CapitalContinued to serve as the exclusive financial advisor. The company successfully completed two consecutive rounds of financing within six months, continuing to garner favor and support from investment institutions.

Xin Zeyuan was established in 2015, with its headquarters in Hangzhou. The company has broken the technological monopoly of upstream importers and formed a platform centered on the full-chain supply of minimally invasive medical devices, focusing onRigid Endoscopes, Flexible Endoscopes, Endoscopic Surgical Instruments, Minimally Invasive Surgical Instrumentsfour major business segments, serving a wide range of medical brands.

Xinze Yuan is committed to providing customers with end-to-end CDMO collaboration, spanning from "conceptual design" to "mass production and market launch," thereby reducing costs and enhancing efficiency for clients while ensuring product quality. The company operates two major production bases in the Qingshan Lake and Changhua Industrial Parks, covering a total area of over 10,000 square meters. Equipped with more than 100 high-end production devices, it manufactures over 30,000 types of component parts and more than 3,200 types of assemblies.

Minimally invasive surgical medical devices, including endoscopes, minimally invasive surgical equipment, and consumables, constitute a global market exceeding $30 billion. Over the past decade, Chinese manufacturers in this sector have rapidly developed, with companies such as Mindray Medical, Nanwei Medical, Anjiexi Medical, and Sonoscape Medical leading a wave of independent innovation and breaking the monopoly held by imported brands. However, China’s minimally invasive surgical industry chain still lags significantly behind international standards, particularly in upstream sectors. The domestic supply system remains relatively fragmented and lacks core technologies, with many manufacturers still operating on a small-scale workshop model that fails to meet the demands of industrial upgrading. Key materials and components for many high-end devices continue to rely on overseas suppliers.

Independent Innovation and Integration in the Supply Chain Will Be the Core of Further Independent Innovation in Medical Devices. Only by connecting upstream materials, processes, and other links to form close upstream-downstream collaborations can key application functions be achieved, long-term stability ensured, and production costs reduced, thereby enabling competition with global medical device brands.

China holds the position of "global manufacturing hub" across numerous sectors, boasting a complete production process system, an ample labor reserve, and low-cost raw material supplies. In recent years, driven by regulatory requirements and cost considerations, industry giants such as Medtronic, Boston Scientific, Olympus, Pentax Medical, and Karl Storz have successively established production bases in China, achieving "localization" of their imported products. As global medical device manufacturers deepen their "localization" strategies, China’s domestic supply chain is ushering in historic development opportunities, positioning the country to become the new global manufacturing center for medical devices.

Xin Zeyuan is a Chinese supplier that pioneered full-chain supply capabilities for minimally invasive surgical medical devices, serving as a key player in the independent innovation of the supply chain.Leveraging its long-term process expertise, breakthroughs in key materials, and the “upstairs-downstairs” collaborative innovation model, Xin Zeyuan provides CDMO-level solutions across multiple fields, including endoscopes, endoscopic consumables, and minimally invasive surgical instruments.

Particularly in the field of flexible endoscope bodies, which has long been monopolized by international giants, Hangzhou Xinzeyuan Precision Products Co., Ltd. has overcome the challenges associated with the precision manufacturing and assembly of more than 300 core components, achieving product performance comparable to that of global brands. The company’s endoscope portfolio covers gastrointestinal, bronchial, urological, and nasopharyngolaryngeal applications, leveraging its two core advantages—multifunctionality and low cost—to meet diverse customer needs across multiple endoscope types and all clinical departments. Furthermore, in recent years, building on its technological expertise, Xinzeyuan has expanded into CDMO services for neurointerventional, coronary, and peripheral stents, applicable to various metal and polymer tubing products.

Currently, the domestic business segment of Xinzeyuan has deeply penetratedOver 400Medical device enterprise, winning recognition from domestic and international industry giants. The company’s sales network spans all major continents worldwide, with products exported toThe United States, Germany, India, and Russiain more than 20 countries and regions, including

Wang Qiu, Chairman of XinzeyuanRong“XinZeyuan expresses its gratitude to both new and existing shareholders for their recognition and support. Alongside the growth of numerous outstanding domestic downstream enterprises, XinZeyuan has accumulated profound expertise in manufacturing processes and product knowledge, while continuously driving technological innovation. It has evolved into a supply chain platform enterprise for minimally invasive medical devices, integrating capabilities in precision machining, polymer materials, structural design, and process engineering. Looking ahead, XinZeyuan will continue to develop along the business path of ‘one core platform and four business modules,’ serving the field of minimally invasive medicine and contributing to the advancement of China’s medical device industry.”

Sun Yanbing, Partner at Shunbai FundIt stated, “China has the potential to become a global manufacturing hub for medical devices. Xinze Yuan possesses extensive expertise in multiple processes, including machining and polymer materials, and has mastered core technologies in the production and manufacturing of medical devices. Furthermore, Xinze Yuan holds significant advantages in the endoscopy niche, with its mirror body CDMO business widely recognized by numerous clients. Deeply rooted in the medical device industry chain, Shunbai Fund will leverage its industrial resources to empower Xinze Yuan, with the expectation that Xinze Yuan will establish a strong foothold in China and expand globally.”

Wang Chao, Founding Partner and Managing Partner of Sanmei Investmentstated: “We have long focused on investment opportunities across China’s medical device industry chain. As China evolves from the world’s largest single market for medical devices into a global R&D and manufacturing hub, the rise of domestic supply chains has become an inevitable trend. We are highly optimistic about Xinze Yuan’s strategic layout in the upstream segment of minimally invasive surgical instruments. Sanmei Investment will fully leverage its capabilities in whole-industry-chain investment and operations to provide comprehensive support and assistance to Xinze Yuan.”

Zhang Ao, Partner at Qiming Venture Partnersstated, “In the mere six months since Qiming Venture Partners led Xinzeyuan’s Series B financing round, Xinzeyuan has achieved significant breakthroughs in product development, business expansion, and other areas. As an existing shareholder, we have deeply felt the innovation capability and execution strength of the Xinzeyuan team. We remain firmly optimistic about the future development of China’s medical device industry and will continue to support the growth of outstanding companies like Xinzeyuan, helping them step onto the global stage.”

Ren Zhong, Founder of Dianshi Capitalstated, “Our project team is deeply honored to have continuously supported Xinzeyuan’s financing rounds. Throughout the process, we have been impressed by the Xinzeyuan team’s exceptional strategic vision, bold spirit in navigating challenges, and pragmatic work ethic. We are confident that Xinzeyuan will continue to provide high-quality solutions for medical device enterprises and set a benchmark for Chinese supply chain companies.”

Shunbai Fund is an investment institution focused on the healthcare sector, primarily driven by industrial capital. It leverages its exceptional ability to integrate market resources to accelerate the growth of healthcare enterprises. Shunbai Fund boasts a distinguished investment team proficient in diversified investment strategies, with a dedicated focus on the healthcare industry, covering areas such as medical devices, healthcare big data, medical services, and cell therapy.

Sanmei Investment is a specialized boutique investment firm focused on the healthcare and medical sector. Its fund management team primarily hails from top-tier domestic investment banks, investment institutions, and listed medical companies, boasting extensive, long-term expertise in the healthcare industry and a track record of multiple successful investments. The investment team possesses comprehensive capabilities across the entire industry value chain and is committed to becoming a premier investment institution with profound value-add capabilities through specialized and focused operations.

Qiming Venture Partners was established in 2006. Currently, Qiming Venture Partners manages 11 US dollar funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in sectors such as technology and consumer goods, as well as healthcare and medical services. To date, Qiming Venture Partners has invested in more than 580 high-growth innovative enterprises, among which over 210 have either gone public on exchanges including the New York Stock Exchange (NYSE), NASDAQ, the Hong Kong Stock Exchange (HKEX), the Shanghai Stock Exchange (SSE), and the Shenzhen Stock Exchange (SZSE), or exited through mergers and acquisitions. Additionally, more than 80 of its portfolio companies have become industry-recognized unicorns or super unicorns.

Recommended Reading: “Serving Over 400 Medical Device Clients and Exporting to 20 Countries Worldwide, Xinzeyuan Pioneers a New Era of Supply Chain Integration in the ‘Endoscopy + Minimally Invasive’ Field”