Tuge Medical Secures Nearly RMB 200 Million Series B Funding to Accelerate Global Expansion of Minimally Invasive Imaging Solutions

Nanjing TUGE Healthcare Co., Ltd. (hereinafter referred to as “TUGE”) has recently successfully completed a new round of financing, raising nearly RMB 200 million. This round was co-led by LongRiver and Shanghai Orient Securities Innovation Investment Company Limited, with participation from several other institutions. The proceeds will be used to promote the commercialization of minimally invasive surgical imaging equipment and to sustain investment in the research and development of new products. This will ensure the further improvement of domestic and international marketing networks and channels, as well as the continuous enhancement and iterative updating of products, thereby strengthening the company’s comprehensive competitiveness in the field of minimally invasive surgical endoscopy.

Nanjing TUGE Healthcare Co., Ltd. was established in 2018, focusing on medical endoscopic imaging systems and digital intelligent operating rooms.In the field of 4K 3D ICG all-in-one electronic endoscopic camera systems, which represent the current pinnacle of technological advancement, it was the first to break the foreign monopoly and also the first company in China to obtain a registration certificate., is a national high-tech enterprise with fully independent original R&D capabilities in "hard technology."

TUGE’s products have gained market recognition, having obtained 9 NMPA certificates, 5 CCC certificates, and 5 CE MDR certificates. More products are in the process of certification. The company holds over 120 intellectual property rights domestically and internationally. Its latest flagship product, the “Morning Star” 4K 3D ICG all-in-one system, representing the most advanced technology in endoscopic imaging, has broken foreign technological monopolies. It has been trialed in over 500 hospitals across China, receiving consistent high praise from clinical surgical experts. This innovation provides differentiated competitiveness in China’s highly saturated endoscopy market, serving as a strong enabler for overtaking competitors on the curve, with the aim of rapidly becoming a globally competitive well-known brand.

It is reported that the 89th China International Medical Equipment Fair (CMEF) grandly opened in Shanghai from April 11 to 14. At Booth S39 in Hall 5.1, TUGE made a stunning appearance with its latest products, including the Ruishi Trinity 4K³ Ultra-High-Definition Endoscopic Imaging System, the Qimingxing Tvenus 4K 3D ICG All-in-One Endoscopic Imaging System, and the TurbOR Integrated Operating Room Solution.

The head of LongRiver Investment statedTUGE’s core competitiveness stems from its relentless pursuit of technological innovation and its top-tier R&D and marketing teams. Dr. Wang Yangang, Founder and CEO, graduated from the Institute of Automation, Chinese Academy of Sciences. Since 2005, he has been dedicated to research on image processing algorithms and their hardware architectures. His core team has mastered the full-chain technology that determines the core performance of medical endoscopes, encompassing FPGA logic, image processing algorithms, and hardware implementation. In particular, TUGE’s self-developed FPGA logic has been key to the continuous iteration of its products and its rapid ascent to a leading market position. Domestic cross-industry talent proficient in both image processing algorithms and FPGA logic is extremely scarce. By adhering to independent full-chain R&D and cultivating its own cross-disciplinary talent, TUGE has accumulated substantial technological expertise and human capital over the past six years. Additionally, TUGE’s professional marketing team was fully established in 2022. Its core members have several years of experience at leading multinational corporations in related industries, bringing rich practical marketing experience, outstanding performance records, and a strong market reputation to the endoscopy sector. Looking ahead, TUGE is expected to continue leveraging its advantages in technology, products, and talent to expand its market presence with more innovative endoscopic solutions and sustain its forward momentum.

Head of Orient Securities Innovation InvestmentChina’s medical endoscopy market offers vast growth potential. Imported brands still hold over 70% of the market share, and the industry is currently at a pivotal moment for domestic substitution driven primarily by internal circulation. We are highly optimistic about the investment opportunities in the niche segment of high-end rigid endoscopes. TUGE’s flagship product—the first 4K 3D ICG all-in-one camera system approved in China in February 2023—matches imported brands comprehensively in terms of product performance. In particular, the all-in-one electronic endoscope represents one of the most challenging core components to develop and manufacture in the industry. Currently, only a handful of companies worldwide, including TUGE, have successfully integrated two 4K CMOS sensors within a 10mm diameter tube and achieved micron-level registration, overcoming multiple technical barriers in the field. After trial use, numerous clinical experts stated that TUGE’s electronic endoscope ranks among the top domestic products and closely rivals the leading international brand, even surpassing it in certain key metrics, whether in imaging clarity, 3D depth perception and realism, color reproduction, fluorescence imaging, or ease and comfort of manipulation. We have great confidence in the R&D team’s years of technological accumulation and exceptional execution capability, which enabled them to complete the development of the all-in-one product within just one year, successfully capturing the “crown jewel” of the endoscopy field. Since last year, under the leadership of a new marketing team, TUGE has significantly enhanced its brand influence and product market share in the healthcare sector. We hope this investment will strengthen TUGE’s capabilities in innovation, R&D, and marketing, thereby providing more high-quality, “Intelligently Made in China” premium products to the medical markets in China and around the world.

LongRiver Investments was founded in 2022 by Mr. Zhang Jiang, a renowned investor. Its inaugural fund, structured as a 10-year long-term vehicle, exceeds USD 400 million, with investors primarily comprising large international institutions and specialized long-term funds. The team focuses on investments in technological innovation sectors such as healthcare, information technology, and advanced manufacturing, covering stages from early to late-growth. Founder Zhang Jiang previously served at a globally leading integrated financial group, where he established and led its VC/PE investment team in 2012. Over the past decade, the team has raised multiple USD and RMB-denominated funds and invested in more than 40 healthcare and technology companies worldwide, nearly 20 of which are listed on stock exchanges both in China and abroad.

Shanghai Orient Securities Innovation Investment Company Limited (hereinafter referred to as “Orient Innovation”) was established in 2012, with a current registered capital of RMB 7.5 billion. It is a wholly-owned subsidiary of Orient Securities Company Limited (600958.SH), engaged in alternative investment activities using its own funds. Orient Innovation boasts extensive experience in equity investment and capital operations, professional investment capabilities, and a strong track record and reputation. Committed to providing comprehensive financial services to high-quality enterprises, it leverages the platform resources of Orient Securities to help companies enhance their value.