Yiteng Medical Secures Tens of Millions in Pre-A Funding to Break Through Domestic CT Tube Technology Bottleneck

VCBeat has learned that Kunshan Yiteng Medical Technology Co., Ltd. (hereinafter referred to as “Yiteng Medical”) recently announced the completion of its Pre-A financing round, amounting to tens of millions of RMB. This round of financing was led byApricot CapitalLead investor,Suzhou Venture Capital, Guofa Venture CapitalandWuxi SHINESUN CapitalCo-investment,Dianshi CapitalServed as the exclusive financial advisor. The funds raised in this round of financing will be primarily used for the research and development, as well as regulatory registration, of new CT X-ray tube products.

Yiteng Medical is a high-tech startup founded by overseas high-level talents, specializing in the research and development and production of electron vacuum devices, with products widely used in medical imaging and industrial inspection. Its current main products include medical CT X-ray tubes and high-end industrial microfocus X-ray tubes. Established in 2021 and headquartered in Kunshan, Suzhou, the company possesses independent R&D, production, and office facilities, and has established a complete production system. To date, the company has filed 21 patents, covering various aspects such as X-ray tube manufacturing processes, technological improvements, and conceptual designs for new X-ray tubes.

There is still a significant gap in the per capita ownership of CT scanners in China compared to developed countries, indicating substantial room for growth. Benefiting from technological advancements and policy support, the market share of domestically produced CT scanners has been steadily increasing in recent years. However, the market for CT X-ray tubes, one of the core components of CT equipment, remains almost entirely monopolized by imported products. Only a handful of domestic companies possess the capability to manufacture X-ray tubes independently, making it imperative to break this import monopoly. As a leading R&D and production platform for electron vacuum devices in China, the company has developed mid-to-high-end X-ray tube technology. Its first product, a 5.5 MHU CT X-ray tube designed for 32-slice CT scanners, has received regulatory approval and is poised for rapid market entry.

CT X-ray tubes not only have high R&D barriers, but their manufacturing processes are also extremely complex. Yiteng has accumulated extensive experience and data in the CT X-ray tube production process, established a stable mass-production system, gained customer recognition during testing at client facilities, and achieved performance metrics that meet original equipment manufacturer (OEM) specifications. In terms of commercialization, the company is simultaneously advancing in both the OEM and replacement tube markets. In addition to close collaboration with client manufacturers, Yiteng has established strategic partnerships with several leading domestic distributors. Mass production and sales of its 5.5 MHU CT X-ray tubes are imminent.

Company Product: 5.5 MHU CT X-ray Tube

Dr. Hu Yuan, Co-founder of Yiteng MedicalHe stated, “We extend our sincere gratitude to both new and existing shareholders for their strong support, which has injected powerful strategic momentum into our long-term development. We are fully aware that against the backdrop of increasingly fierce competition in the global medical device market, continuous technological innovation and market acumen are key to corporate survival and growth. Leveraging this opportunity, Yiteng Medical will further increase its R&D investment, continuously enrich its new product portfolio, and strive to achieve more prominent results in the field of electron vacuum products. For products that have already obtained regulatory certification, the company will accelerate production, ensure production efficiency and product quality, bring these products to market, and achieve a commercial breakthrough with its first X-ray tube product.”

Apricot Capitalstated: “We maintain a strong long-term bullish outlook on the company, driven not only by its core technological strengths and market potential but also by its solid team and organizational systems. As a core component of CT equipment, the upstream sector has been a key focus area for Apricot Capital, particularly against the backdrop of domestic substitution. Yiteng’s innovations in the fields of domestically produced CT X-ray tubes and industrial X-ray tubes have not only achieved a breakthrough in the mass production of high-quality X-ray tubes but also significantly advanced the process of localization and high-end development of domestic medical equipment. We believe that Yiteng Medical’s technological advantages and market positioning will become a key force driving the transformation and upgrading of China’s high-end CT equipment industry in the coming years. Apricot Capital will provide comprehensive resource support to assist Yiteng in accelerating its product R&D process, with the expectation that Yiteng will soon emerge as a cornerstone player in the domestic CT X-ray tube and other electronic vacuum tube sectors.”

Suzhou Venture Capital & Guofa Venture Capital“The representative stated: ‘As a high-tech enterprise in Suzhou, Yiteng Medical fully demonstrates its high-tech attributes. After more than two years of development in Kunshan, we have gained a clear understanding of the company’s platform and capabilities. As state-owned capital in Suzhou, we have consistently focused on strategic emerging industries such as advanced equipment manufacturing and life sciences. Yiteng’s production of high-end core components, specifically CT X-ray tubes, aligns closely with the principles of advanced equipment manufacturing and domestic substitution. We hope the company will maintain its R&D momentum and accelerate the commercialization of its products.’”

Wuxi SHINESUN CapitalSHINESUN stated, “SHINESUN has been deeply engaged in strategic emerging industries such as the big health sector, committed to continuously contributing exceptional value to China’s industrial development and technological innovation. We are delighted to partner with Yiteng. The company’s well-established R&D and production systems have impressed us greatly, reflecting a very clear strategic positioning. Moreover, the team’s strong execution capability is a key factor in accelerating product commercialization. We look forward to Yiteng making even greater contributions toward replacing imported CT X-ray tubes with domestically produced alternatives in the future.”

Yang Wenlei, Senior Vice President at Dianshi Capital“: “This marks another collaboration between the Dianshi team and Yiteng. We are honored to have witnessed the company’s rapid growth once again. The Yiteng team boasts extensive experience in industry-academia-research collaboration within the field of electronic vacuum technology. The fact that the company completed the R&D and obtained regulatory approval for its first CT X-ray tube within just over two years of establishment fully demonstrates its capabilities. We extend our congratulations to Yiteng on completing this round of financing. We believe that the company will continue to exert strong efforts in the medical and industrial sectors, overcome critical technological bottlenecks in X-ray tube manufacturing, and further promote the domestic substitution of mid-to-high-end X-ray tubes.”

Apricot Capital was established in 2015. Its name, “Apricot,” symbolizes “masterful healers of the apricot grove bringing benefits to the world.” Leveraging the power of capital, Apricot Capital partners with visionary entrepreneurs to address significant unmet clinical needs, integrate resources across the broader health industry, promote sector development, and ultimately benefit humanity. The firm currently manages five RMB-denominated funds, with total assets under management nearing RMB 6.5 billion. Its team comprises over twenty professionals worldwide with extensive investment experience in healthcare, possessing diverse expertise in life sciences, medicine, finance, and law. Since its inception, Apricot Capital has focused on investing in outstanding early- and growth-stage enterprises in the life sciences sector, with a portfolio spanning biopharmaceuticals, medical devices, and healthcare services.

Suzhou Venture Capital Group aligns itself with Suzhou’s strategic development as an innovative city, committed to fostering the integrated growth of industrial innovation clusters in the digital economy era. With full-cycle equity investment in technology enterprises as its core pillar, the firm leverages the guiding and driving role of state-owned financial capital to build a refined and dense network of innovation capital, promoting the deep integration of the innovation chain, industrial chain, capital chain, and talent chain. Focusing on Suzhou’s “1030” industrial system, Suzhou Venture Capital Group prioritizes strategic emerging industries such as advanced equipment manufacturing, new materials, next-generation information technology, energy conservation and environmental protection, life and health (including biotechnology), and modern services. It has facilitated the listing or public quotation of over 60 companies in domestic and international capital markets.

Wuxi SHINESUN Capital is the core equity investment platform under Wuxi Taihu New City Development Group Co., Ltd. SHINESUN Capital has deeply cultivated strategic emerging industries such as integrated circuits, the digital economy, new energy, and big health, establishing a business development pattern with equity investment as the main body, supported by fund-of-funds investment and investment banking services. It has cumulatively signed 100 investment projects (funds) with a total contracted amount exceeding RMB 13 billion; the valuation of these projects and the scale of the funds exceed RMB 250 billion. The firm has raised and managed seven funds filed with the Asset Management Association of China (AMAC), with assets under management reaching RMB 4.77 billion. Upholding the entrepreneurial spirit of "pioneering through hardships to achieve success," and firmly rooted in the values of "focus, perseverance, gratitude, integrity, and humility," SHINESUN Capital continues to contribute exceptional value to China's industrial development and technological innovation.