Shuwei Technology Secures Tens of Millions in Angel Funding to Accelerate Endoscope Pipeline Development

VCBeat has learned that Shenzhen Shuwei Technology Co., Ltd. recently completed an angel financing round worth tens of millions of yuan. The round was led by BIOCHING CAPITAL, with participation from VINNO CAPITAL and TusStar Venture Capital. The funding will support the company in achieving localization of core endoscope modules, developing its terminal product portfolio, and expanding its market presence.

Shuwei Technology was established in 2019, bringing together a pioneering entrepreneurial team. Its core technical personnel hail from prestigious universities such as Tsinghua University, Huazhong University of Science and Technology, and South China University of Technology, and possess nearly two decades of experience in top-tier medical device companies. The team has repeatedly received honors including the First Prize for Provincial Technological Invention and the China Excellent Patent Award, demonstrating exceptional capability in overcoming complex technical challenges. Focusing on the field of minimally invasive surgery, the company has launched endoscopic technology solutions covering the entire R&D value chain, with the aim of becoming a leading supplier of surgical product lines in the future.

Adhering to the principle of independent innovation, the company is dedicated to tackling core underlying technologies related to endoscopy. It has successfully developed complete optical modules, opto-mechanical-electronic integrated control systems, and high-performance pneumatic circuit designs, while mastering comprehensive manufacturing processes. For instance, the core multi-chip camera module was previously designed and manufactured by only a few Japanese and German manufacturers. Chinese manufacturers had to import these modules from overseas, resulting in long procurement cycles and an inability to conduct secondary development based on their specific design requirements. After years of diligent research, the Shuwei team has achieved technological breakthroughs in this field. In the future, it will be able to provide customized imaging modules to domestic and international manufacturers based on this technology platform.

Li Yong, Chairman of Shuwei TechnologyShuwei Technology stated: "We extend our sincere gratitude to our investors for their trust and strong support. Shuwei Technology will continue to expand its team and strengthen independent innovation in core technologies and products. Leveraging national policy support and the assistance of our investors, we will gain a deeper understanding of clinical application needs and harness our multidisciplinary R&D capabilities in optics, mechanics, electronics, and algorithms to accelerate the development of emerging technologies and products. Meanwhile, we will expand our global marketing team to speed up the process of import substitution and internationalization of Chinese minimally invasive medical device products."

Liu Mingyu, General Manager of BIOCHING CAPITALIt indicates that while the endoscopy market appears to be a "red ocean" with intense competition, it actually resembles the PC or smartphone markets in their earlier stages: the high-end segment is monopolized by international brands, while domestic manufacturers are primarily engaged in integration within the mid-to-low-end segments, with core modules largely dependent on imports. Having known this team for many years, I have strong confidence in their ability to understand customer needs, achieve technological breakthroughs, and execute manufacturing. Therefore, upon learning of the company’s financing requirements, we quickly followed up, secured the deal, and completed the investment. The current import substitution trend is deepening from integrated manufacturing to core module development and expanding from the domestic market to overseas markets, a shift driven by the overall improvement of China’s manufacturing capabilities and the global image of Chinese brands.

Zhao Lv, Vice President of VINNO CAPITALShuwei: As the "eyes" of minimally invasive surgery, endoscopic systems are indispensable. The high-end segment of this field has long been monopolized by foreign brands. Shuwei is one of the few innovative enterprises in China that has fully mastered the underlying technologies of endoscopes. With a team dedicated to the research and development of core endoscopic technologies, Shuwei has, after years of accumulation, successfully overcome multiple critical technological bottlenecks previously controlled by foreign brands, laying a solid foundation for challenging their dominance in the high-end market. In the future, Shuwei will seize opportunities for innovation in clinical applications, guided by market demand, to apply its innovative technologies to complex clinical scenarios, thereby making greater contributions to the precision, minimal invasiveness, and efficiency of minimally invasive surgery.

Wei Jiashen, Managing Director of Qirong Venture CapitalIt is stated that China’s endoscopy market is experiencing the fastest growth rate globally and is poised to become the world’s second-largest medical endoscopy market. The potential for domestic substitution of imported endoscopes is substantial, with a clear and accelerating trend. Currently, the endoscopy sector is undergoing a technological transformation, presenting a prime opportunity for Chinese enterprises to achieve rapid advancement and overtake competitors.As one of the very few domestic companies to break the monopoly held by foreign manufacturers in optical module processing and precision manufacturing, Shuwei has deeply cultivated the fields of endoscopic technology and product R&D for many years. The company has achieved independent research, development, and manufacturing across all key areas, including the underlying technical architecture of rigid endoscopes, core components of camera systems, imaging algorithms, and electronic technologies. Its product performance is comparable to that of imported alternatives.Shuwei’s underlying technology platform provides a sustainable foundation for iteration and evolution, enhancing the reliability and image performance of endoscopic camera systems while enabling the rapid development and derivation of more high-end and innovative products. We look forward to Shuwei Technology’s continued innovation in this multi-billion-dollar endoscopy market, seizing opportunities for catch-up and surpassing competitors amidst industry trends, thereby delivering higher-quality products and services to patients.

BIOCHING CAPITAL, established in 2016, is an emerging fund management firm in a phase of rapid growth, dedicated to investing in enterprises within the life and health sector with a highly focused and in-depth approach. In less than five years since its inception, BIOCHING CAPITAL, as a fund manager, has successfully launched nearly ten funds and invested in or incubated approximately thirty companies, spanning fields such as medical devices, in vitro diagnostics (IVD), pharmaceuticals, and healthcare services. The company’s core team members hail from renowned medical enterprises including Mindray Medical, Lepu Medical, Neptunus Group, and 3SBio Inc. With years of immersion in the healthcare industry and venture capital, they possess profound professional backgrounds, extensive practical experience, and strong capabilities in technical understanding and market analysis. Currently, the BIOCHING CAPITAL private equity fund manager brand has gained initial influence, securing capital commitments from the Shenzhen Angel Fund of Funds, the Shenzhen Pingshan Government Guidance Fund, as well as multiple listed companies and well-known enterprises.

VINNO CAPITAL is a professional early-stage venture capital firm specializing in the information and communications technology (ICT) and healthcare sectors. With a focus on domestic substitution, it primarily invests in technology-driven enterprises, particularly high-tech innovators that have achieved breakthroughs in critical technologies previously subject to foreign bottlenecks. The VINNO team boasts over 20 years of industry and entrepreneurial experience, along with more than 10 years of investment expertise. Its core members comprise technical experts and senior executives from leading industry players such as ZTE Corporation and Mindray Medical. Leveraging exceptional technological foresight and market acumen, and adhering to the philosophy of value investing, the VINNO team has invested in over 100 promising high-tech innovative companies worldwide. It has gradually developed a distinctive investment style in fields including semiconductor chips, artificial intelligence, software and services, and medical devices.

Qirong Venture Capital, established in Shenzhen, China in 2019, is a key component of TusStar Venture Capital’s “networked and clustered” development strategy, focusing on early-stage investments in hard technology. Key investment areas include, but are not limited to, next-generation information technology, new materials, life and health, aerospace, robotics, intelligent equipment, and the internet. Originating from TusStar Venture Capital, which has managed 13 series of tech venture capital funds, holds stakes in over 20 funds, and manages a total fund size of RMB 2 billion, Qirong Venture Capital benefits from a strong legacy. TusStar Venture Capital invests in angel-stage tech innovative enterprises at a rate of up to 90%, with a subsequent financing rate exceeding 70%. It has consistently been ranked among the “First Tier” and “TOP 10” early-stage investment institutions by authoritative media such as Zero2IPO, CVSource, 36Kr, Lieyunwang, the Fund of Funds Alliance, and Science and Technology Daily.