Foremed Legend Secures Tens of Millions in Angel Funding from Yuanyi Capital to Advance Domestic High-End Aesthetic Medical Devices

VCBeat (WeChat: vcbeat) has exclusively learned that recently, a domestic high-end medical aesthetics device manufacturerSuzhou Fumeilei Medical Technology Co., Ltd.(hereinafter referred to as “Fumeilei Medical”) announced the completion of a funding round led byMARATHON VENTURE PARTNERSExclusively Invested InTens of Millions in Angel Round Financing. The funds from this round will be primarily allocated to technological optimization, research and development of related product pipelines, product registration and filing, brand building, and market expansion.

Fumeilei Medical, established in September 2021 and headquartered in Suzhou, has since its inceptionCommitted to Becoming a Global Leader in Aesthetic Medical Optical and Electronic Equipment. Currently undergoing independent research and developmentPicosecond Laser Therapy Device, Photoacoustic Imaging Skin AnalyzerandPhotoacoustic-Guided Picosecond Laser Therapeutic Deviceand other high-end products.

Tang Yinan, Managing Director of MARATHON VENTURE PARTNERS“The medical aesthetics market boasts broad prospects, driven by multiple factors including rising demand fueled by income growth, product upgrades spurred by technological innovation, and the increasing willingness and ability of younger consumers to spend. Fumeilei Medical has amply demonstrated its strong capabilities in product development and market expansion over the past period, earning recognition from both the market and consumers. MARATHON VENTURE PARTNERS is optimistic about the industry’s future growth potential and Fumeilei Medical’s first-mover advantage, and looks forward to supporting the long-term development of this high-quality enterprise.”

Fumeilei Medical Founder Xia YuqingHe stated, “We are deeply grateful for MARATHON VENTURE PARTNERS’ trust in Fumeilei Medical. We will continue to increase our R&D investment in core technologies and products to build competitive barriers and industrial advantages, while also prioritizing market channel expansion and brand building. Our goal is to grow into a leading enterprise in the field of medical aesthetic optoelectronic devices. Furthermore, I sincerely hope that the Fumeilei team will reject the impetuousness prevalent in the medical aesthetics industry, maintain their passion for product development and resilience in the face of challenges, and focus on creating superior products, so that ‘Fumeilei’ becomes synonymous with safety and efficacy.”

The medical aesthetic optoelectronic device industry is a technology-intensive sector characterized by multidisciplinary integration and exceptionally high technical barriers. Currently, nearly all mid-to-high-end medical aesthetic optoelectronic devices used by compliant medical aesthetic institutions in China are imported products. Although the overall market share of imported manufacturers in China’s compliant market has declined slightly in recent years, it remains above 80%, constituting a near-monopoly.

Amid the wave of domestic substitution, Chinese manufacturers of medical aesthetic optoelectronic devices are showing signs of emergence; however, their growth remains sluggish due to constraints in R&D capabilities, capital investment, core component supply chains, and regulatory compliance. The product portfolios of most domestic manufacturers remain concentrated in mid-to-low-end segments such as CO2 lasers and intense pulsed light (IPL) systems. Some companies operate in regulatory gray areas, vacillating between profit motives and compliance obligations.Companies that possess the true resolve to make firm decisions, along with independent R&D capabilities and technological innovation prowess in mid-to-high-end optoelectronic products, are as rare as morning stars.

“A breeze rises from the duckweed.” Xia Yuqing keenly perceived the shifting trends in the medical aesthetics device industry. “Over the next five years, imported medical aesthetics devices will face increasing challenges in the Chinese market, as domestic products gradually gain momentum and pose a significant impact on imports. Due to their inherently high manufacturing costs, compounded by logistics, taxes, and other additional expenses, imported products suffer from excessive total costs. In a market landscape without monopoly power, they lack competitive advantage.”Xia Yuqing predicts that, with the enhancement of capabilities in domestically produced medical aesthetic devices and the growing prominence of their cost advantages, domestic substitution will become a significant trend in the medical aesthetics device sector.

Xia Yuqing decided to personally engage in the venture, partnering with co-founder Wang Guohe to establish Fumeilei Medical in Suzhou in 2021.

Co-founder Wang Guohe,Ph.D. in Biomedical Engineering from Peking University; has held R&D management and technical leadership positions at companies such as BOE, and served as a faculty member at a Project 211 university. With many years of specialized expertise in biomedical photonics imaging and laser medicine, he has led and participated in numerous national- and provincial/ministerial-level research projects, published multiple papers in SCI-indexed journals, and been granted over ten invention patents. He has led teams to develop photoacoustic imaging systems, near-infrared II (NIR-II) fluorescence imaging devices, and wearable devices, possessing extensive experience in team management as well as innovation and R&D of hardware and software products.

Currently, Fumeilei Medical hasNearly 20employees, among whomR&D personnel account for two-thirds of the company., the core R&D team is composed of professionals who graduated from renowned universities both in China and abroad.

The medical device industry is subject to stringent regulation. All products must undergo supervision and review by the National Medical Products Administration (NMPA) at every stage, from R&D, testing, and registration to production and sales. This rigorous oversight tests a company’s comprehensive capabilities in product development, regulatory approval, quality system establishment, and market development, resulting in high market entry barriers. Fumeilei Medical’s core team possessesProven entrepreneurial track record, deep technical expertise, regulatory and market access advantages, extensive resource networks, and strong business integration capabilities, laying a solid foundation for Fumeilei Medical's goal of accelerating the localization of high-end medical aesthetic optoelectronic devices.

Fumeilei Medical, with its high starting point, targets the domestic high-end medical aesthetic optoelectronic device sector. Currently, its two independently developed products arePicosecond Laser Treatment DeviceandPhotoacoustic Imaging Skin Analyzer。

Among them, the flagship productForePico Multi-Wavelength Picosecond Laser Treatment Device,For the treatment of benign pigmented skin lesions, tattoo removal, and facial rejuvenation (wrinkle reduction, skin resurfacing, etc.).。

Picosecond laser treatment devices are currently a popular product in the global medical aesthetics industry and a star product widely favored in the Chinese market.

As a high-end laser product in the medical aesthetics market, picosecond laser treatment systems feature high technical barriers, stringent regulatory approval requirements, and substantial manufacturing costs.CurrentlyNo domestically produced compliant products are currently available,The market is completely monopolized by importers. Currently, mainstream imported instruments are priced at around 1.5 million yuan, and products are out of stock all year round.

“Recently, we conducted practical tests on the ForePico prototype, and the results were highly satisfactory. The beam quality has reached an internationally leading level, while the stability of energy output achieved a tolerance of 5%, surpassing the 20% tolerance level of imported products.” According to Xia Yuqing, the picosecond laser therapeutic device independently developed by Fumeilei Medical is poised to become the first domestic product capable of rivaling similar imported counterparts, shining as a “pride of Chinese manufacturing.”The prototype has been completed, and whole-unit performance optimization is currently underway. Testing and registration applications will commence shortly.It is foreseeable that once ForePico officially receives approval from the National Medical Products Administration (NMPA), it will break the monopoly held by existing importers and trigger a “rise of domestic products” effect.

“The rise of domestically produced high-end medical aesthetic optoelectronic products will closely mirror the trajectory of consumer electronics such as smartphones. By building a supply chain foundation through OEM and other business models, transitioning from domestic imitation to original innovation, and leveraging China’s vast consumer market to establish a solid product base, these products will ultimately lead the global market.” Xia Yuqing believes that after decades of accumulation, China’s laser industry has achieved significant development. The localization of core supply chain components, including high-performance lasers and precision optical assemblies, has laid a solid foundation for the advancement of Chinese medical aesthetic laser equipment.

AtField of Photoacoustic Imaging Equipment, Xia Yuqing is also full of confidence. According to reports, this technology, as a groundbreaking new imaging technique,Currently, most studies remain at the laboratory stage; there are no large-scale commercialized products available globally, and no effective attempts at industrialization have yet been made.Fumeilei Medical's independently developed photoacoustic imaging skin detector is the first of its kind in China and a leading instrument globally, with its technical level at the international forefront.

Xia Yuqing stated that Fumeilei Medical will continue to excel inProduct R&D, Technological InnovationandPatent Layout. In the short term, focus on cash flow to build sound operational and business models; in the long term, prioritize key technological innovations and enrich the product pipeline, strengthen the company’s product competitiveness and market presence, and lead the domestic substitution of medical aesthetic optoelectronic devices. Meanwhile, Fumeilei Medical will continue toFinancingandTeam Expansion, ensuring sufficient resources and sustainable development for the enterprise.