Shinevia Intelligent Completes Pre-A+ Financing Round to Advance Breakthroughs in Special Light Imaging Technology

VCBeat has learned at the earliest opportunity that, in recent days,China’s Leading Specialized Optical Imaging Company—Jinan Shinevia Intelligent Technology Co., Ltd. (hereinafter referred to as “Shinevia”) Completes Pre-A+ Round of Financing Worth Tens of Millions of Yuan, led by Linglong Fund, with Shiyue Capital participating as a co-investor.The proceeds from this financing round will continue to be used for the R&D and regulatory registration of the company’s new products, as well as for academic marketing and promotion.

Shinevia was established in Jinan, Shandong Province, on June 29, 2017. After five years of rapid development, the company has set up R&D and production centers in Hangzhou, Zhejiang Province, and Liuyang, Hunan Province, respectively. It has been recognized as a High-Tech Enterprise in Shandong Province, a “Specialized, Refined, Differential, and Innovative” (SRDI) Enterprise in Shandong Province, and a High-Tech Enterprise in Hunan Province. To implement the international strategic layout outlined in its “Second Five-Year” development plan, the company has signed an agreement to locate at the Shanghai G60 Science and Technology Innovation Cloud Corridor, with headquarters relocation proceedings underway in an orderly manner.

Shinevia boasts a globally leading specialized light imaging technology platform, has secured over 30 patents, and ranks among the top three worldwide in patent search volume within its niche sector.The company’s independently developed, first-of-its-kind picomolar-level ultra-high-sensitivity image detector is globally leading, and it holds the invention patent for the world’s fifth fluorescent contrast agent. Currently, multiple products from the company have successfully achieved commercialization, covering departments such as thyroid surgery, breast surgery, hepatobiliary surgery, thoracic surgery, gastrointestinal surgery, and gynecology, thereby establishing a closed-loop business model of “equipment + consumables.”Among them, products such as the parathyroid imaging system and the triple-tracer fluorescence endoscopy system are all first-of-their-kind in China.Shinevia is one of the few companies worldwide that has mastered autofluorescence imaging technology and successfully achieved commercialization.

Shinevia has previously secured angel investment from Luxin Venture Capital, as well as Pre-A round funding from GT Venture Capital and Zhenghai Investment. Following the completion of this financing round, the company plans to officially launch its Series A fundraising in July.

Regarding this financing round, Yang Cong, founder of Shinevia, stated:“In the first half of the year, amid the severe and complex COVID-19 situation across China, the company forged ahead, successfully obtained three Class II medical device registration certificates as scheduled, achieved its expected operational targets, and completed the current round of financing. These accomplishments were made possible by the strong support from both new and existing investors, the professional and pragmatic work ethic of our team, and the care and assistance from friends across all sectors of society, including park authorities and hospital experts. As domestic epidemic control measures become increasingly clear, the company is poised to continue its momentum in the second half of the year, leveraging its accumulated strengths to thrive against headwinds.”

“Today marks the fifth anniversary of our company’s founding, a milestone that fills me with deep reflection. We have journeyed through wind and rain, maintaining diligence and vigilance from dawn to dusk. Fortunately, we have not walked this path alone; with steadfast support, we have lived up to expectations. Many investors have asked about our international strategy: Since its inception, Shinevia has been committed to building an internationally leading brand, possessing both the determination and courage to compete with global giants. Drawing lessons from history, we remain driven by technological innovation and guided by clinical needs. We uphold the original aspiration of healthcare professionals to heal the sick and save lives, while embracing the spirit of national enterprises dedicated to serving the country through industry. Rooted in the era of China’s great rejuvenation, we adhere to fundamental principles while pursuing innovative breakthroughs amidst the volatile landscape of the global medical device industry. This is the strategy and confidence of the Shinevia team.”

Zhang Jun, Chairman of Linglong Fund, stated:“Special light imaging technology is one of the most promising sectors in the medical device industry in recent years and a key focus area for our company. Building on foundational breakthroughs in special light imaging technology, Shinevia has successfully commercialized multiple products that are leading both domestically and internationally. The company has established a product portfolio spanning multiple specialties, including breast and thyroid surgery, hepatobiliary surgery, and thoracic surgery, and has completed academic and market collaborations with over 100 Grade A tertiary hospitals. During the pandemic, the company still completed the registration of several core products on schedule and achieved sales results in line with expectations, fully reflecting the team’s entrepreneurial spirit in facing challenges and their strong operational capabilities. It is an honor to participate in this round of financing for Shinevia, and we look forward to working together with the company to build a leading brand in the field of special light imaging.”

Gong Hanting, Partner at October Capital, stated:“Shinevia is a leading R&D enterprise in China’s specialized optical imaging sector, particularly in the field of autofluorescence. Leveraging its deep technological expertise in this area, the company has developed a distinctive product pipeline that addresses critical pain points in surgical procedures and improves patients’ postoperative quality of life. We are honored to participate in Shinevia’s current financing round and will continue to support the company in leveraging its core technologies to develop more innovative products that meet clinical needs.”

Linglong Jinshan Investment Management Co., Ltd. is an investment management institution jointly established by Linglong Group and a senior fund management team from the capital markets. Its majority shareholder, Linglong Group, is a large diversified enterprise group ranked among China’s Top 500 Enterprises, with business interests spanning tire manufacturing, electromechanical equipment, warehousing and logistics, healthcare, and other sectors. The core members of Linglong Jinshan’s investment team predominantly possess over twenty years of experience in investment management. Leveraging the industrial advantages of its majority shareholder and the team’s extensive investment expertise, Linglong Investment focuses on equity investments in high-growth, high-tech enterprises, with a particular emphasis on “hard tech” companies. It is committed to contributing to China’s efforts in overcoming technological bottlenecks and achieving import substitution. Since its inception, the company has completed equity investments in multiple projects across fields such as information technology, advanced manufacturing, semiconductors, fine chemicals, and commercial aerospace.

Shiyue Capital is a rapidly growing, emerging private equity investment management firm founded by former senior executives from leading Chinese securities firms, along with core members of their equity investment and investment banking teams. Shiyue Capital operates three management platforms, currently manages over ten private equity funds, and has assets under management exceeding RMB 3 billion. Since 2016, it has invested in nearly 50 companies, with 22 portfolio companies successfully listed on the A-share market (including those approved but awaiting issuance), and more than ten prospective IPO candidates are in the process of filing new applications.