Suzhou Shengxing Medical Completes Tens of Millions RMB Pre-A+ Financing to Accelerate Holographic Medical Imaging Product Commercialization

VCBeat has learned that Suzhou Shengxing Medical Device Co., Ltd. (“Shengxing Medical”) recently announced the completion of its Pre-A+ financing round, raising tens of millions of RMB. The round was jointly invested by Suzhou Jiahonghe Investment Center and Zhangjiagang Jinxin Capital. The funds raised will be primarily used for new product research and development, NMPA applications, and market expansion of core products.

Shengxing Medical, established in June 2021, is a high-tech enterprise dedicated to the research and development of holographic preoperative planning systems for medical imaging and holographic intelligent surgical navigation and guidance systems. Leveraging its profound expertise in virtual reality and healthcare, the company has rapidly achieved recognition as a National High-Tech Enterprise, a Specialized and Sophisticated “Little Giant” Enterprise, a Zhongguancun Golden Seed Enterprise, and a Zhongguancun High-Tech Enterprise, andSecured China’s first VR medical device registration certificate (NMPA) and the country’s first holographic medical imaging registration certificate (NMPA).

As the capital frenzy subsides, Shengxing Medical has secured over RMB 10 million in Pre-A+ round financing against the trend. This achievement not only underscores investors’ strong recognition of the MXR (FDA classification, i.e., medical XR) sector and its deterministic opportunities but also demonstrates their confidence in Shengxing Medical’s team capabilities and product prospects. The funding will further support the company in deepening its layout in the MXR field and accelerating product promotion and application.

In recent years, the XR industry has seen renewed momentum.

At the industry level, the healthcare sector is actively accelerating the deployment of Mixed Reality (MR) technology. Notably, GE HealthCare has partnered with MediView XR, a pioneer in MR clinical medical technology, to jointly develop Omnify XR, a medical imaging visualization system powered by the Microsoft HoloLens MR headset. This system not only provides surgeons with precise navigation assistance during operations but also supports real-time remote expert guidance and collaboration, significantly enhancing the efficiency and safety of surgical procedures. Additionally, Augmedics, an AR surgical navigation company, successfully closed an $82.5 million Series D financing round in 2023 despite a tightening capital environment, with the funds designated for expanding into the U.S. market and advancing the research and development of next-generation AR technologies.

In terms of industry policies, the government has successively introduced a range of supportive measures, such as the Action Plan for the Integrated Development of Virtual Reality and Industry Applications (2022–2026) and guidance opinions on the development of the metaverse industry in specific regions, to promote technological innovation, market expansion, and industrial upgrading in the XR sector, thereby providing policy safeguards for its comprehensive development.

It is evident that the MXR industry has experienced comprehensive acceleration across multiple dimensions, including products, the industrial chain, and investment and financing.

As technology matures and hardware costs decline significantly, MXR is now experiencing rapid growth in adoption and is considered to have substantial market potential. According to a report by Fact&Factors, the global MXR market size is projected to surge from $2.7 billion in 2020 to $40.98 billion in 2026, with a forecast compound annual growth rate (CAGR) of 34.89% from 2021 to 2026.

MXR has achieved significant cost reduction and efficiency improvement in medical processes, earning widespread recognition from the clinical community, thanks to its highly immersive and realistic remote content delivery capabilities as well as precisely tailored services for diverse clinical settings. This technology was first applied in the field of surgery, effectively addressing the “visual barriers” inherent in traditional surgical procedures using 2D medical imaging—namely, issues of poor visibility, inaccurate visualization, and limited field of view.

Through digital methods, MXR can reconstruct 3D images of human tissues and organs from 2D imaging data, significantly reducing physicians' reliance on subjective interpretation. It not only assists doctors in making more accurate decisions but also facilitates detailed preoperative planning, thereby substantially shortening surgical duration and the learning curve for junior surgeons. With continuous technological advancements, MXR has successfully achieved real-time guidance and navigation capabilities during surgical procedures.

As one of the early domestic enterprises to lay out in the MXR field, Shengxing Medical recognized its application value in the medical sector back in 2014 when VR/AR technologies were still immature. The company was established in 2021, focusing on the research and development of holographic preoperative planning systems for medical imaging and holographic intelligent surgical positioning guidance systems.

Currently, Shengxing Medical has developedHolographic Imaging Solution Covering the Entire Surgical Workflow, with over 30 intellectual property rights under substantive examination; 16 have been granted, including 8 patents, 14 software copyrights, 4 trademarks, and 4 certificates for new technologies and products.

It is worth noting that the company has established long-term strategic partnerships with more than 50 renowned hospitals and clinical experts across China, accumulating a substantial volume of surgical clinical case data encompassing diverse categories, multidisciplinary fields, various disease types, and multiple modalities. These data broadly address the varying needs of different departments, particularly in image processing and precision, thereby providing robust support for product design improvement and commercialization.

Furthermore, the company has partnered with the Advanced Institute of Information Technology at Peking University to jointly establish China’s first medical holographic imaging laboratory, dedicated to accelerating the innovative translation and practical application of medical imaging technologies.

In 2021, the independently developed product by Shengxing Medical“Medical Image Processing and VR Display Operating System” Obtained China’s First VR Medical Device Registration Certificate.

Equipped with terminal devices such as holographic stereoscopic optical tracking glasses, interactive holographic displays, and interactive styluses, this product supports fundamental operations and visualization methods including 720-degree rotation, translation, zooming, cross-sectional slicing, endoscopic viewing, distance measurement, angle measurement, and built-in consumable management. It enables automated analysis and processing through various algorithms, such as deep learning-based image analysis, 3D spatial rendering, precise spatial navigation and positioning, consumable simulation, and accurate registration. By comprehensively empowering physicians in preoperative planning from the perspectives of “vision,” “manipulation,” and “cognition,” it serves as an entry-level model suitable for clinical medical practice and medical education.

Among these, the holographic stereoscopic optical tracking glasses feature five tracking points and deliver holographic 3D visual effects. As the user moves their head, the viewing angle adjusts in real time according to the operator’s head position, closely mimicking natural visual perception. The interactive holographic display can be placed arbitrarily to achieve a holographic stereoscopic effect, breaking through the planar limitations of traditional PC screens and providing a strong sense of spatial depth and positional awareness. Serving as an extension of the human hand, the interactive operating pen enables operators to manipulate objects freely across six degrees of freedom—a capability typically unattainable with conventional mice in 3D space. Furthermore, the pen can simulate various surgical instruments and tools, offering practical hands-on functionality.

Currently, Shengxing Medical hasCollaborated with over 20 hospitals across China, deploying the product for clinical use.

This year, the company's independently developed“Holographic Intelligent Multimodal Fusion Imaging Surgical Navigation System” is about to receive NMPA approval.

This system integrates advanced imaging technologies to effectively consolidate various medical imaging data, including computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound images. By combining mixed reality (MR) and artificial intelligence (AI) technologies, it enables real-time holographic image display during surgical procedures. The application scope of this holographic surgical navigation system is extensive; it is not only suitable for various percutaneous minimally invasive procedures such as biopsy puncture, cryoablation, microwave ablation, particle implantation, and radiofrequency ablation, but also applicable to multiple critical anatomical regions, including the lungs, liver, kidneys, neurosurgery, and spine, thereby providing comprehensive surgical support for physicians.

In terms of hardware R&D, Shengxing Medical has also achieved significant results.The company is currently developing a medical-grade MR head-mounted device., the device is not only equipped with a self-developed CMOS chip but also boasts a battery life of over 6 hours. It is lightweight, weighing less than 300g, with brightness reaching up to 1000 nits and precision at the sub-millimeter level, leading the industry.

Supported by national development policies, charging directory codes have been established in multiple provinces across China. The company’s preoperative planning product has obtained regulatory approval and is currently reimbursable in over ten provinces, demonstrating a complete commercial value chain. Leveraging clinical practice experience and an accumulated database of tens of thousands of cases, the company will continue to optimize its product and implement iterative upgrades to better align with clinical needs.

Regarding this round of financing, Yu Lang, founder of Shengxing Medical, stated“By integrating artificial intelligence with XR technology, Shengxing Medical has achieved innovative breakthroughs in the healthcare sector, keeping pace with advanced international technologies without any technological gap. Focusing on clinical needs, we have developed three core technologies—visualization, AI-assisted decision-making, and robotics—targeting the three critical aspects of surgical procedures: observation, judgment, and operation. Through XR technology, physicians can observe lesions more intuitively and clearly, enabling interactive imaging; AI technology supports decision-making to enhance surgical efficiency; and robotic technology improves surgical precision. Looking ahead, we are committed to developing medical devices that integrate XR, AI, and robotics. Our self-developed XR devices, such as smart glasses, will be applied to navigation systems, and we are considering supplying modules externally. As a solution provider, we will focus on the ultimate development of medical XR technology to meet market demands and drive innovation in the healthcare industry.”

Regarding this round of financing, investors stated“We believe that navigation technology should be an integral part of surgery, but its benefits should not be limited to the few hospitals that can afford multi-million-dollar robotic systems. It should be accessible to the vast majority of primary-care hospitals. In the current healthcare landscape, low-cost, high-efficiency, and lightweight navigation products better meet clinical needs.”