Lichi Medical Technology Secures Over $60 Million in New Funding, Bringing 9-Month Total to Over $100 Million

VCBeat (WeChat: vcbeat) has learned that Lichi Medical Technology (“Lichi”), a leading enterprise in the supply chain of dental medical devices and consumables, completed a financing round exceeding USD 60 million in March 2022.The lead investor in this round is the well-known PE firm Nexus Point Capital (Jinyi Capital), with follow-on investment from a leading strategic investor in China’s logistics industry.

It is reported that LICHI has raised over $100 million in cumulative financing over the past nine months. The previous round of financing was completed in June 2021, with exclusive lead investment from the renowned private equity firm Trustbridge Partners.

LICHI was established in early 2017 through a joint venture between well-known foreign industrial capital in the dental industry and its founding team. The company is dedicated to providing one-stop procurement services for dental medical devices and consumables, primarily targeting private dental clinics. LICHI boasts a top-tier professional management team and exceptional operational efficiency. It has not only built a comprehensive service system but also continuously improves capital utilization efficiency, per capita output, and inventory turnover rate, while constantly optimizing key operational metrics such as customer acquisition costs and product loss rates.

On the upstream product side, LICHI collaborates with over 400 brands, offering more than 20,000 SKUs. These products span multiple categories, including oral prevention, infection control, endodontics, root canal therapy, periodontal treatment, prosthodontics, teeth whitening, dental implants, imaging, anesthesia, orthodontics, laboratory materials, cutting, grinding, and polishing materials, as well as equipment, instruments, and other clinical supplies.

On the downstream client side, LICHI boasts over 50,000 registered clinic users, with monthly new user additions consistently exceeding 1,500. Leveraging its high-quality services and strong reputation, LICHI has achieved comprehensive coverage across all customer tiers, ranging from national and regional dental chains to dental outpatient departments and individual dental clinics.

In 2021, LICHI consolidated its position in the private dental market of East China and further expanded its coverage in South and North China. In 2022, LICHI plans to penetrate the markets in Central and Western China, enabling more clinic clients to recognize and benefit from LICHI’s high-quality services.

Amid the surging trend of online procurement for dental medical devices and consumables, LICHI has remained steadfastly focused on its core business. Adopting a “macro supply chain” perspective, the company deeply explores market demand and continuously deepens its strategic layout through targeted breakthroughs. Guided by the singular vision of “building a professional e-commerce platform for dental medical devices and consumables,” LICHI relentlessly pursues excellence. Looking ahead, LICHI will continue to uphold its original commitment to avoiding empty rhetoric, chasing fleeting trends, or accumulating hollow concepts, as it makes steady progress toward becoming an industry “guardian” with a distinct and recognizable identity.

Jin Yi Capital is a top-tier private equity investment fund focused on the Greater China region. It invests in companies and works closely with founders and management teams to generate superior long-term returns by driving business growth.