Jingqin SmartMed Completes Two Rounds of Tens-of-Millions RMB Financing Within Three Months to Accelerate Commercialization of Proprietary Hand-Controlled Robotic Surgical Instruments

VCBeat has exclusively learned that Jingqin Zhizao (Suzhou) Medical Technology Co., Ltd. (hereinafter referred to as “Jingqin Zhizao”) announced the recent completion of its Angel+ round of financing, which was solely invested by Jiangyuan Investment. The funds raised will be primarily used to accelerate the mass production validation of its first passive medical device product.、Registration and Filing, as well as the expansion and R&D of core technologies at the application level.

With the steady growth of LivsMed’s overseas sales, Wanxiang’s laparoscopic surgical instruments are gradually attracting attention from China’s industry and capital markets.Leveraging its industry-leading proprietary technology, Jingqin Zhizao (Suzhou) Medical Technology Co., Ltd. successfully secured two rounds of financing, each amounting to tens of millions of yuan, within three months. The company also completed the development of its core products in a short period and is expected to finalize type testing in 2024.

Jingqin Zhizao (Suzhou) Medical Technology Co., Ltd. was established in 2021 and is located in the Suzhou New District. It has been recognized as a Gusu Leading Talent Enterprise and a High-Tech Enterprise in Suzhou, and is a member unit of the Suzhou Medical Device Industry Association.Leveraging its core modular universal flexible transmission platform technology and building upon its novel laparoscopic “hand-controlled robotic arm” products, the company is committed to establishing itself as an innovative platform enterprise specializing in minimally invasive surgical instruments and consumables.

In recent years, with the continuous increase in the total number of surgical procedures and the rapid rise in the proportion of minimally invasive surgeries (MIS), the market for MIS auxiliary instruments and consumables (MISIA)—the primary medical devices used in MIS—has evolved into an established market valued at over RMB 30 billion, with a compound annual growth rate (CAGR) exceeding 14%. This market includes individual instrument/consumable categories with market shares ranging from RMB 3 billion to RMB 6 billion, where domestic substitution has been fully realized. However, new products in this field remain scarce, and there is an urgent market need for more practical innovations beyond surgical robots.

Chen Hui, Co-founder and Marketing Director of Jingqin ZhizaoIt stated: “MISIA is a vast market with significant potential. Although the domestic niche segment for novel ‘hand-controlled robotic arms’ in endoscopic surgery remains untapped, similar products developed by LivsMed and FlexDex have already undergone varying degrees of clinical and commercial validation globally.”

“At the same time, we are pleased to find that the statement ‘adding multi-degree-of-freedom motion to the distal end of minimally invasive handheld instruments can provide surgeons with benefits in terms of precise manipulation and ergonomics’ is gradually being incorporated into expert consensus guidelines for relevant surgical procedures in China. As an industry pioneer, we are confident in carving out a brand-new category with a potential market size of nearly RMB 10 billion, distinct from traditional laparoscopic surgical instruments and surgical robots.”

Regarding the product pipeline planning of Jingqin Zhizao,Co-founder and General Manager, Xu Xinliangyistated,“As planned, the company’s first passive product will obtain regulatory approval in 2025. Meanwhile, the company is concurrently developing active high-frequency energy devices equipped with flexible transmission technology, with the expectation of providing laparoscopic surgeons with a relatively comprehensive suite of handheld instruments and consumables by 2026.”

“Our independently developed, proprietary omnidirectional flexible transmission technology platform offers exceptional versatility. By continuously achieving breakthroughs in foundational technologies, we are building competitive barriers across multiple dimensions and applying these advancements to our target products. In the future, while optimizing our existing pipeline, the company will further deepen R&D efforts in core technologies and anchor its expansion strategy in minimally invasive surgery to develop a broader portfolio of products.”

The core team members of Jingqin Zhizao hail from prestigious institutions such as Shanghai Jiao Tong University, Nanjing University, and Nanjing University of Aeronautics and Astronautics. They possess professional experience at leading medical device companies, including Johnson & Johnson and MicroPort. The team has established academic and research collaborations with multiple universities and hospitals across China. As one of the first teams in China to focus on minimally invasive, multi-degree-of-freedom devices, they bring many years of expertise in the original research and development of medical devices as well as extensive industry experience.

Through the joint efforts of its team members, Jingqin Zhizao has completed the development of its first novel endoscopic “hand-controlled robotic arm” product. The company has filed more than twenty invention patents related to its technology and products (six of which have been granted), as well as two PCT international patent applications that have been published. In anticipation of its future overseas expansion plans, the company is also making strategic preparations in advance.

Meanwhile, the company is establishing its first production base for its product pipeline in Suzhou High-Tech Zone Science and Technology City, and will engage in deeper collaboration with key local and surrounding hospitals in the future.

Regarding this round of financing, Wang Yichu, Founding Partner and Chairman, stated:Sustained innovation in original research demands substantial investment of capital and personnel, as well as an unwavering resolve. We extend our sincere gratitude to Jiangyuan Investment for its trust and support. All members of Jingqin Zhizao (Suzhou) Medical Technology Co., Ltd. are committed to living up to these expectations. Upholding our founding principle of “exploring the deepest sources of medicine with diligence and tireless effort,” we will deliver high-quality products to clinical practice, ensuring ease of use for physicians and tangible benefits for patients, thereby fulfilling the social value that our enterprise is destined to create.

LongRiver Jiangyuan Investment stated:Minimally invasive surgery has become an irreversible trend in the field of surgery. Traditional laparoscopic instruments suffer from many pain points, such as a steep learning curve and significant operational difficulties in confined spaces, creating an urgent need for product innovation. The omnidirectional laparoscopic instruments developed by the company combine the advantages of traditional instruments and surgical robots. Through an integrated design approach, they can meet clinical needs more flexibly and at a lower cost, holding immense potential for future applications. The company’s team has accumulated years of experience in product R&D, possessing comprehensive capabilities and strong execution. We are highly optimistic about these innovative medical devices developed based on genuine clinical needs and look forward to growing alongside the company in the future.

LongRiver Jiangyuan Investment is a long-term technology investment fund with a 10+2 year term, managing approximately $400 million in assets. The team focuses on technological innovation sectors such as healthcare, information technology, and advanced manufacturing, covering stages from early to late growth. Founder and CEO Zhang Jiang is a seasoned technology investor; over the past decade, he has led the team in investing in more than 40 companies worldwide, nearly 20 of which have gone public domestically or internationally. LongRiver Jiangyuan Investment leverages asset management experience from large insurance groups, deep R&D and operational expertise in the technology industry, and a global perspective. The team will continue to focus on the technology sector, integrating new drivers of global industrial development to support and cultivate the next generation of industry leaders.