Zhuowai Medical Secures Over RMB 100 Million in Series B+ and B++ Financing to Accelerate Commercialization and Industrial Expansion

VCBeat has learned that, following the completion of its tens-of-millions-yuan Series B financing, joymedicare (Shanghai) Medical Electronic Technology Co., Ltd. (hereinafter referred to as “joymedicare”) announced today the successful closure of its Series B+ and B++ financing rounds, totaling over RMB 100 million. This round was jointly invested by Jiangxia Science and Technology Investment Group, Zhuoyue Jinke, Hengjin Capital, and other strategic investors. The funds will be primarily allocated to expanding marketing channels and product promotion, strengthening the manufacturing center and industrialization capabilities, and further solidifying joymedicare’s leading edge in technological and product innovation.

Founded in Zhangjiang, Shanghai, in June 2015, Joymedicare has remained dedicated to the research, development, and innovation of minimally invasive imaging technologies. Its product portfolio now provides comprehensive coverage across key specialties, including general surgery, urology, gynecology, orthopedics, and thoracic surgery. As one of the few companies in China capable of delivering holistic endoscopic system solutions, Joymedicare has emerged as an industry leader, leveraging its professional R&D team and fully proprietary, end-to-end endoscopic system technologies.

On May 28, 2024, Joymedicare’s “Semi-disposable Electronic Laparoscope” was approved to enter the Special Review Procedure for Class II Innovative Medical Devices, signaling that China’s first single-use electronic laparoscope is poised for imminent market approval.

Joymedicare Semi-Throw Integrated Electronic Endoscope

Joymedicare’s Unicorn-4K3D Fluorescence Multimodal Endoscopy System, as the first multimodal endoscopic imaging system in China with fully independent intellectual property rights, provides a one-stop solution for the healthcare industry through its platform-based design and integration of multiple functionalities. Notably, its “All-in-One Portable Electronic Laparoscope” has been consecutively included in the “Shanghai Second Batch of Recommended Innovative Products Catalog” due to its innovative design and portability, further underscoring Joymedicare’s leading position in the field of endoscopy.

Joymedicare Multimodal Endoscopy Products

On May 16, 2024, the invention patent application titled “A Multimodal Imaging Endoscopy System” filed by Joymedicare was granted by the China National Intellectual Property Administration. This patent grant not only enriches the company’s intellectual property portfolio in the endoscopy field but also further strengthens its independent R&D capabilities in this domain.

After eight years of dedicated efforts, Joymedicare has successfully overcome all technical barriers in optical endoscope design, fiber shaping, and hermetic sealing and packaging. The company now offers a comprehensive portfolio of laparoscopes, hysteroscopes, cystourethroscopes, sinus scopes, otoscopes, and arthroscopes. In terms of optical angular resolution, depth of field, and sterilization tolerance, its products are comparable in quality to imported brands. To date, Joymedicare has filed over 150 patents for its endoscopic products, with invention patents accounting for nearly 40% of the total.

Joymedicare Optical Endoscopy System

Mao Jungang, Founder of joymedicareMr. [Name] stated, “Amid increasingly fierce market competition, the company has secured over RMB 100 million in investment from multiple investors, including Jiangxia Science and Technology Investment Group. This demonstrates industrial investors’ confidence in industry development and their recognition of the company’s future growth potential. Joymedicare will spare no effort to accelerate the commercialization of its products, delivering greater clinical benefits and innovative services to physicians and patients.”

Mr. Zhang Xiaofei, Head of Investment Business at Jiangxia Science and Technology Investment Groupstated: “We eagerly look forward to partnering with Joymedicare to jointly advance minimally invasive medical technologies, bringing greater innovation and value to the healthcare industry. Jiangxia Science and Technology Investment Group will subsequently support the company’s development in multiple areas, including the construction of Joymedicare’s industrialization base, attraction of R&D talent, product development, and market expansion. Leveraging the opportunity presented by the establishment of Joymedicare’s Wuhan base in the Optics Valley South Health Industry Park, we will further accelerate momentum transformation and strive to create a new landmark for the health industry in central China.”

Mr. Yu Xiaoyong, Founder of Zhangkelingyistated: “Zhang Keling has been by Joymedicare’s side since leading its angel round investment seven years ago. We have witnessed Joymedicare grow from a small team with just a few devices into what is now the largest R&D team in China’s endoscopy sector, boasting the most comprehensive technological capabilities and exceptional innovation strength. Multiple products have gradually entered the market and gained recognition. We congratulate Joymedicare on securing capital endorsement and completing this significant financing round by leveraging its technological and product advantages despite the current industry downturn. After years of dedicated research and development, Joymedicare has established the capability to provide end-to-end solutions for endoscopy systems and is now focusing on industrialization and commercialization. Driven by multiple policies promoting domestic substitution and the state’s vigorous cultivation of new quality productive forces, Joymedicare has a promising future.”

Wuhan Jiangxia Science and Technology Investment Group Co., Ltd. was established in February 2017. With a registered capital of RMB 5 billion and total assets approaching RMB 10 billion, it is a wholly state-owned enterprise in Jiangxia District, Wuhan City. Adhering to the “One Body, Two Wings” development strategy—with industrial investment as the core, supported by park operation and financial services—the Group has successively developed and operated over one million square meters of commercial buildings and industrial parks, including the Sci-Tech Innovation Plaza, Sunshine Chuanggu Industrial Park, Optics Valley South Big Health R&D and Production Center, and Jiangxia Intelligent Manufacturing Industry Base. As a pioneer, the Group plays a leading role in promoting the development of strategic emerging industries and implementing the Jiangxia District Committee and Government’s major strategy of “Revitalizing the District through Industry and Invigorating the District through Innovation.”