Weici Tech Secures Over RMB 100 Million Series A Funding and Receives China's First Atomic Magnetometer-Based Cardiomagnetic Imaging Device Registration Certificate

VCBeat has learned at the earliest opportunity that,BeijingX-MagtechTechnology Co., Ltd. (hereinafter referred to as“X-MagtechTechnology”）RecentlyCompletion AnnouncedUltra-100 million yuanSeries A financing, this round of financing was led byExisting ShareholdersIDG CapitalLed by an unnamed lead investor, with follow-on investments from Langmafeng Venture Capital, CMBC International, and Zhongguancun Science City, and continued support from existing shareholder Yarui Capital. Thus, X-MagtechTechnologySince its establishment two years ago, it has cumulatively completed4 rounds of financing amounting to hundreds of millions of yuan.

Meanwhile, X-Magtech has recently obtained the first medical device registration certificate for a magnetocardiography (MCG) system based on atomic magnetometer technology, becoming the first company in China and the second globally to possess this leading technology and secure medical device market access approval.

(X-Magtech's World's First Commercial Multi-Channel Atomic Magnetometer)

X-Magtech stated, “The company will leverage this round of financing to continuously expand R&D investment, accelerate the market launch of products such as magnetoencephalography (MEG) systems and fetal magnetocardiography (fMCG) systems, and become the only company in the world that masters the underlying technology of quantum magnetic field sensing while also offering commercial products including magnetocardiography (MCG) and MEG systems.”

Quantum sensing, quantum computing, and quantum communication are currently the three major strategic directions in the field of quantum technology. In particular, quantum magnetic field sensing technology has garnered significant attention from countries such as China, the United States, the United Kingdom, Germany, and Japan, due to its broad application prospects and substantial commercial value in areas including biomedical healthcare, engineering geology, military defense, and fundamental physics research. According to McKinsey’s latest research report, the total market size for quantum magnetic field sensing is projected to exceed $100 billion.

As a leading domestic enterprise in commercial quantum magnetic field sensing technology, X-Magtech has leveraged its core atomic magnetometer technology as a platform and been guided by market demands since its establishment. It has not only broken the long-standing U.S. monopoly on commercial technologies in this field and achieved full independent control over underlying technologies and core components, but also targeted the precise diagnosis of major cardiovascular and cerebrovascular diseases and the field of brain science for commercial application. The company has taken the lead in successfully developing high-end medical imaging devices with fully independent intellectual property rights, such as magnetocardiography (MCG) and magnetoencephalography (MEG) systems, helping China become the second country after the United States to possess a complete industrial chain for quantum biomagnetic imaging.

X-Magtech’s core technology, the atomic magnetometer, leverages the principle of electron spin to achieve magnetic field detection sensitivity at the level of one part per billion of the Earth’s magnetic field. This technical approach currently represents the most sensitive method for magnetic field measurement available to humanity. After being pioneered by Princeton University in 2002, it was recognized by the Massachusetts Institute of Technology (MIT) in 2008 as one of the “Top 10 Technological Breakthroughs.” It has also long been a critical “chokepoint” technology constraining China’s development.

Currently, X-Magtech’s commercial products have matched the sole U.S. competitor in core technical specifications and surpassed it in multi-channel collaborative operation, system integration, reliability, and user-friendliness. To achieve large-scale mass production, X-Magtech has established mass-production capabilities for core components, including chip-scale atomic vapor cells and specialized non-magnetic optoelectronic chip packaging, and has developed corresponding production equipment. Its annual production capacity has now exceeded 1,000 units. In 2021, the company shipped over 100 units, which have been widely applied in scenarios such as fundamental scientific research, biomagnetic field detection, and industrial inspection, gradually realizing domestic substitution of this technology in China.

Based on this core technology, X-Magtech pioneered the development in China of an atomic magnetometer-based magnetocardiography system for the precise diagnosis of cardiovascular diseases, and obtained the first medical device registration certificate for such a product in the country.

(The first atomic magnetometer-based magnetocardiograph to obtain a medical device registration certificate in China)

In complex electromagnetic medical environments, this device accurately detects cardiac magnetic fields that are merely millionths of the strength of the Earth’s magnetic field. It completes safe, non-invasive, and accurate multi-dimensional functional cardiovascular imaging within 90 seconds, without exposing patients to radiation, contrast agents, or medications. The device is suitable for large-scale early screening of coronary heart disease across all age groups, rapid triage of chest pain, and assessment of fetal cardiac function. Furthermore, it provides a novel tool for clinical research applications, including long-term prognostic monitoring of heart disease, lesion localization, and assisted diagnosis of complex cardiac conditions.

It is reported that magnetocardiography (MCG) systems have been applied worldwide for decades; however, the adoption of previous-generation products was limited due to their reliance on bulky superconducting technology with high operational and maintenance costs. In 2019, the U.S. FDA granted the world’s first market clearance for an atomic magnetometer-based MCG system, and in 2020, designated it as a Breakthrough Device, thereby demonstrating the technical advantages and clear patient benefits of the new generation of MCG systems. The successful regulatory approval of X-Magtech’s MCG system has made China the second country in the world to possess this technology for clinical application, enabling competition at the international forefront and allowing the Chinese population to benefit from the latest advances in quantum sensing technology.

X-Magtech is set to launch an atomic magnetometer-based magnetoencephalography (MEG) system, representing the state of the art in biomagnetic field detection. Leveraging its robust R&D capabilities, the company provides customized solutions for medical and research professionals, facilitating precise diagnosis of brain disorders such as epilepsy, Alzheimer’s disease, and depression. Furthermore, it offers novel technological tools for strategic fields including brain science research and non-invasive brain-computer interfaces, thereby contributing to China’s “14th Five-Year Plan” Brain Science Initiative.

To date, X-Magtech has received support from the Zhongguancun Frontier Technology Achievement Transformation and Industrialization Project. It has been awarded the title of “National Excellent Entrepreneurship and Innovation Project” by the Ministry of Human Resources and Social Security of China, recognized as a “Zhongguancun High-Tech Enterprise,” and won first prizes in multiple Beijing-based and national entrepreneurship competitions, with total prize money exceeding several million RMB. The company has garnered widespread recognition from all sectors of society.

X-Magtech’s rapid development has been driven by a powerhouse team with strong integration of industry, academia, and research. The company has assembled an elite group comprising executives from Fortune 500 companies, highly educated returnees from overseas, national-level talents, recipients of the National Science Fund for Distinguished Young Scholars, and industry experts with extensive practical experience. With this outstanding team and its leading-edge core technologies, X-Magtech gained early favor from prominent hard-tech investment institutions such as Yarui Capital, TusStar Venture Capital, Beihang University Investment, the Global Health Industry Innovation Center of Tsinghua Industrial R&D Institute, and Ruisheng Capital.

Dr. Bin Cai, Founder of X-Magtech“The strong support from IDG Capital, Yarui Heyi Capital, and both new and existing shareholders will accelerate X-Magtech’s plan to rapidly commercialize cutting-edge quantum sensing technologies. This will help integrate quantum technology into daily life sooner, enabling early, non-invasive, and precise diagnosis of major diseases such as coronary heart disease, congenital fetal heart defects, epilepsy, Alzheimer’s disease, and depression. It will provide Chinese medical and research professionals with powerful new tools, ultimately realizing the company’s vision: ‘Quantum Sensing for a Better World.’”

Yang Fei, Partner at IDG Capital, stated:“Cardiovascular and cerebrovascular diseases are the second leading cause of death after cancer, while neurological disorders also pose a significant threat to human health. Accurate diagnosis is the prerequisite for effective treatment. In recent years, developing rapid, highly accurate, and cost-effective diagnostic methods for these conditions has become a key focus of global medical technology research and innovation. X-Magtech is a newcomer in this field, but it stands out with its distinctive approach. Leveraging internationally leading quantum sensing technology, the company has pioneered the development of fully commercializable magnetocardiography (MCG) and magnetoencephalography (MEG) systems in China. X-Magtech’s successful acquisition of China’s first medical device registration certificate for an atomic magnetometer-based MCG system fully demonstrates the advanced nature and efficacy of its technology. The new generation of MCG and MEG instruments will make the diagnosis of cardiovascular and neurological diseases more affordable and accessible in China, while also providing powerful new tools for related scientific research, particularly in the field of brain science.”

Professor Wang Tianmiao, Chief Scientist at Yarui Capital and Dean of the Zhongguancun Zhiyou Angel Research Institute, stated:“Chronic diseases such as coronary heart disease, stroke, and Alzheimer’s disease have become invisible killers threatening life and health in modern society. Characterized by high incidence rates, broad population coverage, a large number of patients, and difficulties in precise early screening, these conditions have driven unprecedented rapid development in recent years of disruptive innovative technologies addressing related clinical pain points, including multimodal imaging detection, quantum precision sensing, medical big data, and nanorobots. Yarui Capital’s Zhiyou Scientist Fund is honored to have participated in the incubation and investment of X-Magtech at an early startup stage. As an emerging high-tech enterprise in its field, X-Magtech holds the only domestic and one of only two global proprietary underlying technologies for quantum precision sensing. The company has launched cardio-cerebral magnetic equipment based on its self-developed ‘atomic magnetometer’ core sensor, which holds significant clinical application value and development prospects. Particularly commendable is the team’s strong execution capability and entrepreneurial spirit, which have enabled the rapid commercialization and widespread application of cutting-edge quantum sensing technology in China.”

Zhu Ping, General Manager of Zhongguancun Science City, stated:“X-Magtech is a highly innovative and execution-driven deep-tech startup within the Zhongguancun Science Park. After several years of R&D, the company’s team has systematically mastered the underlying technologies of quantum magnetic field sensing and achieved rapid application deployment in the life and health sector. Zhongguancun Science City Company is honored to have participated in this round of financing for X-Magtech. We look forward to X-Magtech leveraging its core atomic magnetometer technologies and components, guided by market demand and targeting the precise diagnostic needs for major cardiovascular and cerebrovascular diseases, to rapidly commercialize magnetocardiography (MCG) and magnetoencephalography (MEG) systems. This will create greater value for public health and ensure the company’s sustainable long-term growth.”