MoTing Medical Secures Tens of Millions of RMB in Series A+ Financing from Baidu Ventures, Leading Innovation in Domestic Ophthalmic Medical Devices

VCBeat (WeChat: vcbeat) has learned that Shenzhen Moting Medical Technology Co., Ltd. (Moting Medical), a company deeply engaged in the field of domestically produced ophthalmic medical devices, has officially announced the completion of its tens-of-millions-yuan A+ round of financing. This round was led by Baidu Ventures. The funds will be used for product line expansion, market promotion, and other purposes.

Previously, Moting Medical completed a Series A financing round worth tens of millions of yuan in the second half of 2020. The investor was Shenzhen Guoke Ruihua Phase III Equity Investment Fund (hereinafter referred to as “Guoke Ruihua”), an affiliate of the Chinese Academy of Sciences, underscoring the market’s high expectations for Moting Medical’s development.

The eyes are the windows to the soul. As one of the body’s key sensory organs, the eyes facilitate the transmission of more than 83% of external information received by the human body. China has the largest number of ophthalmic disease patients globally; the combined number of individuals affected by just three major conditions—myopia (approximately 700 million), dry eye syndrome (approximately 300 million), and cataracts (160 million)—exceeds one billion (excluding overlapping cases). In recent years, driven by an aging population, increasingly unhealthy visual habits, rising income levels, heightened consumer health awareness, and continuous improvements in China’s healthcare security system, demand for ophthalmic medical services has shown sustained growth. The market size has expanded rapidly, making ophthalmology a widely recognized “golden track” within the healthcare industry.

Data shows that from 2014 to 2018, the market size of China's ophthalmic medical device industry grew from RMB 5.22 billion to RMB 8.0 billion, with a compound annual growth rate (CAGR) of 11.1%, outpacing the global average during the same period. It is projected that over the next five years, China's ophthalmic medical device industry will maintain rapid growth at a CAGR of 10.0%, reaching a market size of RMB 12.88 billion by 2023.

In 2021, the Ministry of Finance and the Ministry of Industry and Information Technology jointly issued the “Guidelines for Reviewing Government Procurement of Imported Products” (2021 Edition). This notice clearly stipulates the required proportions for government agencies (public institutions) to procure domestically produced medical devices and instruments, mandating 100% domestic procurement for 137 types of medical devices. Zhejiang Province, Guangdong Province, and Sichuan Province have successively released their latest lists of imported medical equipment for procurement, prioritizing the purchase of domestically produced medical devices.

In December 2021, the President of the People’s Republic of China issued Presidential Order No. 103 of the People’s Republic of China in accordance with the decisions of the National People’s Congress and its Standing Committee. Government procurement shall purchase technological innovation products and services provided by domestic natural persons, legal persons, and unincorporated organizations, provided that their functional, quality, and other indicators meet government procurement requirements. For such products and services newly introduced to the market, government procurement entities shall take the lead in purchasing them and shall not impose restrictions on the grounds of lack of commercial performance record.

In January 2022, the National Health Commission issued the "Notice on the 14th Five-Year Plan for National Eye Health (2021-2025)." During the 14th Five-Year Plan period, efforts will be made to expand the supply of high-quality ophthalmic medical resources and extend them to lower-tier levels. The plan aims to effectively advance the prevention and control of myopia among children and adolescents, as well as its scientific correction; further enhance capabilities for restoring vision in cataract patients; gradually improve the screening capacity for fundus diseases such as diabetic retinopathy at primary healthcare institutions; and prioritize key initiatives including the prevention and treatment of major eye diseases in key populations and the establishment of support platforms for eye health services.

Moptim Medical, established in 2003 and headquartered in Shenzhen, is a global high-tech provider of ophthalmic medical devices and solutions. Its main products span three major areas: ophthalmic diagnosis, refractive testing, and surgical equipment, with a sales network covering more than 50 countries worldwide. The company boasts an R&D team core composed of overseas-returnee PhDs and Tsinghua University alumni, achieving international first-class standards in core areas such as OCT core algorithms and optical design.

After more than a decade of industry development, Moting Medical has become a leader in the field of domestically produced ophthalmic medical devices, with its products and solutions covering over 8,000 medical institutions worldwide. In recent years, surging demand for biometers and myopia prevention and control equipment has gradually emerged as a strong new growth driver for the company. Meanwhile, Moting is actively expanding into overseas markets and was among the first Chinese ophthalmic medical device companies to establish a global presence. It has currently established sales channels in more than 50 countries and regions, with its products distributed across Europe, South America, the Asia-Pacific region, and other areas. In the future, the company will enter the North American market, build localized operational teams, and accelerate its internationalization process.

To accelerate the domestic substitution of ophthalmic medical equipment across the entire product line, Mouting has successively developed a range of first-class ophthalmic devices, including high-resolution optical coherence tomography angiography (OCTA), visualized optical biometers, fundus cameras, tonometers, dry eye analyzers, surgical microscopes, slit lamp microscopes, desktop autorefractors, handheld vision screeners, and home-use smart autorefractors.

In the future, Moting will establish a comprehensive and diverse product portfolio, achieving full coverage of core ophthalmic product lines. It will not only actively serve the vast majority of primary and secondary healthcare institutions in China but also accelerate its expansion into personal eye health management services, thereby creating a seamless closed-loop ecosystem for eye care. Amidst the historic trend of domestic substitution for imported medical devices, Moting is poised to capitalize on this momentum and write a new chapter in its development.

Baidu Ventures is an independent venture capital firm initiated by Baidu Group, with three tranches of U.S. dollar and RMB funds totaling over US$700 million. Baidu Ventures primarily targets early-stage pioneer companies in emerging technologies, focusing on business consumption, healthcare and public welfare, and technology extension. Leveraging the strong support and resource sharing from Baidu Group, Baidu Ventures has strategically deployed investments in the field of artificial intelligence. Its current investment portfolio covers new energy vehicles, life sciences, enterprise services, smart cities, semiconductors, smart industry, and IoT-enabled living.

Baidu Ventures believes that technology is the standard-bearer for a better life. Only through finer granularity and more rigorous, excellence-driven standards can innovative technologies be truly fostered. Baidu Ventures seeks to identify more enterprises that integrate innovative technologies into every detail. We will continue to support industries across various sectors that contribute to advancing modern human civilization, working alongside outstanding companies to paint a brighter future for society.