ForeMed Legend Completes Pre-A+ Financing to Advance Domestic High-End Aesthetic Medical Device Platform

Hardcore Technology, Designed for Beauty! VCBeat Exclusively Reports: A Chinese High-End Medical Aesthetics Device ManufacturerSuzhou Fumailai Medical Technology Co., Ltd.(hereinafter referred to as"Fumailai") announced the completion ofSEE FundLead Investor, Existing ShareholdersWoyong FundFollow-on investment in the Pre-A+ financing round. The funds raised will be used to increase R&D investment, expand production capacity, and accelerate commercialization.

Founded in September 2021, Fumilei’s core founding team hails from prestigious universities in China and abroad, including Peking University. Since its inception, Fumilei has been committed to compliance as its foundation and product excellence as its core, striving to become a leading global manufacturer of high-end medical aesthetic optoelectronic devices, a provider of integrated intelligent solutions for diagnosis and treatment, and a pioneer in medical aesthetic data integration platforms.

By mastering a series of core underlying technologies, Fumilei has independently developed a range of high-end medical devices, including the ForeShine Skin Booster Device, Picosecond Laser Therapy System, Cryo Air Therapy Device, Long-Pulse Laser Therapy System, Intense Pulsed Light (IPL) Therapy System, and Photoacoustic Imaging Skin Detection Equipment.

Among these, the ForeShine mesotherapy device was officially approved in February this year and has successfully commenced commercialization, with sales exceeding 100 units in Q2 2023. The core product, the picosecond laser therapeutic apparatus, has completed registration testing; its measured performance parameters are fully comparable to those of imported counterparts, and clinical trials are set to begin shortly. The cold air therapy device is also expected to receive approval and launch in the near future.

Fumilei's Product Pipeline

It is reported that Fumailai has currently obtained approval for 10 patents, including three high-value invention patents. Meanwhile, the company has gained access to the fast-track examination green channel provided by the Suzhou Protection Center of the China National Intellectual Property Administration (CNIPA). Over the next three years, it is expected to secure no fewer than 50 patents, thereby building a robust competitive moat through its innovation and product strength.

Beyond comprehensive breakthroughs in its product portfolio, Fumilei has also achieved repeated success in various competitions. Thanks to its outstanding performance, the company was honored with such distinctions as the 2023 VB100 Most Promising Enterprise of the Year, Dongwu Science and Technology Innovation and Entrepreneurship Leading Talent Enterprise, and Technological Small and Medium-sized Enterprise.

As "light medical aesthetics" becomes increasingly popular, the photoelectric medical aesthetics sector has experienced explosive growth. According to the "2022 Report on Consumer Trends in the Photoelectric Medical Aesthetics Industry," among the medical aesthetic procedures most favored or most desired by consumers in 2022, 47.34% of surveyed users indicated that photoelectric treatments were their top choice or most wanted option.

With rising market awareness and increasingly standardized regulatory frameworks, the domestic medical aesthetic optoelectronic device sector is embracing a triple opportunity: compliance upgrades, import substitution, and source innovation. With the combined support of existing and new shareholders, Fumilei will rapidly ascend to a new level of development, delivering safer, more effective, reliable, and affordable medical aesthetic optoelectronic devices and solutions to beauty seekers in China.

For this round of financing,Xia Yuqing, Founder of FumailaiStatement: We extend our heartfelt gratitude to SEE Fund for its recognition of Formlary, and also thank our existing shareholders for their continued trust and support. As a leading fund in the deep-tech sector, SEE Fund leverages top-tier industry resources from the Department of Electronic Engineering at Tsinghua University. This round of financing will provide Formlary with even more robust technical support. Our team will continue to strengthen the core technologies of our products and deliver superior technical solutions to benefit a broad base of aesthetic medicine consumers. 2023 marked the inaugural year of Formlary’s full-scale commercialization journey. While we indeed encountered numerous challenges, we chose to rise to the occasion and strive to deliver a satisfactory performance.

He Jing, Partner at SEE FundStatement: Demand for high-end domestically produced medical aesthetic devices continues to grow, with relatively high technical barriers, clear opportunities for domestic substitution, and potential for overseas expansion. We value Fumilei’s technological accumulation and sustained R&D capabilities, its relatively comprehensive pipeline of high-end optoelectronic medical aesthetic devices, and its integrated competencies in ecosystem development and product compliance. We aim to promote the application of optoelectronic technologies in both medical and consumer sectors, and will continue to empower Fumilei in areas such as optoelectronic technology and power control.

SEE Fund is an early-stage investment firm originating from Tsinghua University, with a focus on hard technology. It consistently concentrates on sectors such as semiconductors and electronic information, AI and intelligent manufacturing, new energy and new materials, as well as life sciences and the integration of medicine and engineering. SEE Fund currently manages two RMB-denominated funds, aggregating top-tier domestic investment institutions and industrial resources. Its mission is to promote innovation and entrepreneurship through market-oriented mechanisms, empower China’s sci-tech innovation ecosystem, cultivate great technology companies and entrepreneurs, and harness technology for the benefit of humanity.