Nanovision Secures RMB 500 Million Series C Funding to Advance Development of Static CT Technology

VCBeat has learned that Beijing Nanovision Technology Co., Ltd. (“Nanovision”), the pioneer behind the world’s first static CT scanner, has recently completed a Series C financing round of nearly RMB 500 million. The round was led by a prominent investment firm, with participation from Polaris Venture Partners, Hengxu Capital, and Aurora Venture Capital, while existing shareholder Sherpa Capital continued its support. China Renaissance served as the exclusive financial advisor for this financing round.

This round of funding will accelerate the clinical trials, product iteration, and commercial expansion of Nanovision’s “Compound Eye” series of static CT products, further advancing the company’s independently developed static CT technology and realizing its ambitious vision of pioneering new application scenarios for ultra-high-end medical imaging.

Nanovision, founded in 2014, is dedicated to the research, development, and commercialization of the world’s first static CT scanner. It stands as the sole industry leader globally to have successfully brought a product to market in the more than ten years since the concept of static CT was introduced.

Addressing the two major pain points of traditional CT—excessive centrifugal force caused by high-speed gantry rotation and imaging distortion resulting from detector widening—Nanovision has pioneered the independent development and commercialization of a disruptively innovative slip-ring-free multi-source static CT system. This novel system design achieves a tenfold improvement in temporal resolution compared to conventional spiral CT, completely eliminating motion artifacts caused by organ movement.

Nanovision’s first product, the “Compound Eye 24” multi-source static CT, utilizes its proprietary high-density photon flux detector, which increases spatial resolution by a factor of four in each of the X, Y, and Z axes, thereby achieving a 64-fold improvement in overall voxel spatial resolution compared to conventional spiral CT.

The substantial improvement in temporal and spatial resolution has made it possible to perform real-time organ imaging via CT, directly observe fine anatomical structures in vivo, and develop non-invasive pathological diagnostics, which holds profound significance for clinical medicine.

Furthermore, as the cumulative pulse exposure time of distributed X-ray tubes is significantly shorter than the continuous exposure time of spiral CT, the radiation dose per rotation in static CT is reduced by 40% compared to conventional CT, thereby greatly enhancing safety. In the future, static CT detectors will acquire and reconstruct photons at different energy levels to enable multi-energy spectral imaging, laying the foundation for material composition differentiation.

Since its establishment, Nanovision has been dedicated to research and development. It has successfully developed its first compound-eye 24-slice static CT scanner, which has entered the clinical trial phase. The next-generation products, “Compound-Eye 36” and “Compound-Eye 108,” are also expected to enter the clinical stage soon.

Nanovision has opted for the independent development and manufacturing of all core components required for its static CT systems, including photon-counting detectors, scintillation crystals, and ultra-high-speed narrow-pulse high-voltage generators. This strategy has enabled the company to establish a fully proprietary supply chain encompassing R&D and production of key materials and core components through to final system assembly, thereby creating substantial technological barriers to entry.

Moreover, Nanovision has been approved to acquire over 33,000 square meters of land in the Chengdu Tianfu International Bio-town for the construction of a production base. The factory building was topped out in July this year and is expected to become operational next year, preparing for mass production following product approval and market launch.

It is understood that Nanovision positions its static CT technology in the high-end medical imaging market. In the future, the company will engage in scientific research collaborations with numerous top-tier hospitals and medical research institutions both domestically and internationally. By working alongside clinical experts to address the demand for high-precision imaging in clinical auxiliary diagnosis, Nanovision aims to establish benchmark partnership models and gradually extend its reach to primary-care hospitals. Furthermore, Nanovision will simultaneously expand the applications of its static CT technology into fields such as security screening and industrial inspection.

Mr. Li Yunxiang, Founder and CEO of NanovisionThe statement read: “There is immense potential in China for the upgrading and replacement of CT equipment, as well as for the domestic substitution of high-end products. Currently, foreign brands account for 80% of the domestic CT market. In the future, with advancements and breakthroughs in CT-related technologies such as domestic chips and detectors, an increasing number of high-performance domestically produced CT systems will gain a foothold in the Chinese market. We extend our gratitude to both new and existing shareholders for their support. Nanovision will remain committed to technological innovation, continuously strengthening its technical barriers to contribute to the sustained, high-quality development of China’s healthcare sector.”

Mr. Cai Daqing, Partner at Sherpa Capital“Nanovision is one of the few companies in China capable of driving profound transformation in the high-end medical imaging sector, boasting significant growth prospects. The Sherpa Capital team has long admired Nanovision’s efforts to reshape the industry since its early stages and firmly believes in the substantial value of static CT technology. We are delighted to join both new and existing investors in supporting the team as they build a monumental enterprise.”

Mr. Sun Xiaolu, Partner at Proxima Venturesstated: “Bilin Star Ventures has consistently focused on major innovations in medical technology. The Nanovision team has demonstrated admirable courage and innovation in the global CT market, which is monopolized by GPS (GE, Philips, and Siemens). Through years of persistent and arduous efforts, they have broken through all key technical barriers and achieved independent research, development, and production transfer of core components. Their slip-ring-free, multi-source static CT innovatively addresses the pain points of traditional CT systems, namely the limited scanning rotation speed due to excessive centrifugal force and the restricted resolution caused by mechanical motion during imaging. Both temporal and spatial resolutions are significantly improved compared to current spiral CT scanners, creating opportunities for more exciting critical applications. Nanovision’s disruptive innovative spirit aligns closely with Bilin Star Ventures’ investment philosophy in medical innovation. We have maintained our attention on Nanovision, and this investment aims to accelerate its product development and clinical deployment. We believe that with the Chinese government’s continued support for domestically produced medical imaging equipment, Nanovision has a promising future.”

Mr. Lu Yongtao, Chairman of Hengxu Capital“Nanovision’s multi-source static CT represents a globally innovative, breakthrough technology that significantly enhances both temporal and spatial resolution in CT imaging, thereby offering extensive possibilities for clinical applications. Even more impressive is the company’s seven-year dedication to accumulating foundational technologies, independently developing all core components from scratch, which has established a formidable competitive moat. Hengxu Capital remains firmly bullish on Nanovision’s product portfolio and holds high expectations for the clinical adoption of static CT technology.”

Mr. Deng Feng, Founding Managing Partner of Northern Light Venture Capitalstated: “As a critically important category of medical imaging equipment, the CT market has long anticipated a high-performance domestic product. Nanovision, as a leading Chinese manufacturer of high-end CT systems with disruptive technological innovations, represents the future direction of advanced medical imaging devices. The company’s breakthroughs in underlying technologies have laid a solid foundation for the continuous development of disruptive products in the future. We look forward to Nanovision making even greater contributions to independent innovation in China’s medical imaging industry.”

Mr. Xie Yijing, Managing Director and Head of the Healthcare and Life Sciences Group at China Renaissancestated: “We are honored to have assisted Nanovision in completing this round of financing. Driven by the Healthy China strategy, precision medicine is poised for rapid development, which is expected to accelerate the industrial upgrade of high-speed, high-precision medical imaging. With its disruptive technological innovations, Nanovision is hailed as the ‘Tesla of the imaging world,’ representing the future direction for the evolution of domestically produced high-end medical imaging equipment. We look forward to Nanovision, as a changemaker in this field, continuing to make greater breakthrough contributions to the independent and innovative development of China’s medical imaging sector.”

Sherpa Capital was founded in 2018. Its founders previously worked together at a leading Chinese venture capital firm, where they established and led the healthcare investment team in 2011, overseeing healthcare investments and managing healthcare-focused funds. United in purpose and resilient through challenges, the Sherpa Capital team has emerged as an influential venture capital institution in China’s healthcare sector, identifying and backing multiple industry leaders in key areas such as life sciences, pharmaceuticals, medical devices and diagnostics, and healthcare services. Honing our craft over a decade—from 2011 to 2021—we navigated four fund vintages and evaluated more than 120 healthcare projects, privileged to partner with and grow alongside numerous outstanding entrepreneurs.

Proxima Ventures is a professional venture capital firm dedicated to serving exceptional innovative medical technology companies with significant growth potential. Managed and operated by a team of professionals with extensive experience in the healthcare industry, Proxima Ventures boasts diverse, international expertise, professional backgrounds, and industry networks. The firm currently manages multiple RMB and USD funds. Proxima Ventures has established a leading ecosystem for healthcare entrepreneurship, helping its portfolio companies access high-quality clinical and industrial resources, thereby achieving remarkable experience and results.

Hengxu Capital (AMAC Registration No.: P1070270) is the private equity investment platform under SAIC Motor Corporation Limited (600104.SH). Leveraging the overall strengths of SAIC Motor, the company aims to maximize returns for its investors by strategically investing in emerging industries such as advanced manufacturing, healthcare, frontier technologies, and mass consumption. In doing so, it contributes to the development of SAIC Motor’s innovative industrial chain and the enhancement of its mobility ecosystem. Hengxu Capital’s healthcare portfolio includes numerous outstanding enterprises such as Aier Medical, Anzhiyin Biologics, Changfeng Pharmaceutical, Changyu Pharma, Demei Medical, Diker Medical, Gaocheng Biologics, Likai Technology, Meili Weiye, Moyang Biologics, Ribobio, Yuhong Pharmaceutical, Weizhuzhuo Biologics, and UTC.

Northern Light Venture Capital was founded by Mr. Deng Feng in 2005, with the mission of “empowering world-class Chinese entrepreneurs and nurturing world-class Chinese enterprises.” It has long focused on investing in early-stage, technology-driven innovative companies. To date, it has invested in more than 400 outstanding enterprises across the B2B, healthcare, and B2C consumer sectors. Northern Light Venture Capital entered the healthcare sector in 2009. Over the past decade-plus, its investments have spanned multiple sub-sectors—including medical devices, in vitro diagnostics (IVD), biopharmaceuticals, healthcare services, and E-Health—covering nearly the entire industry value chain. The firm has invested in more than 70 companies, including CITIC Pharmaceutical, BGI Genomics, Burning Rock Biotech, Zelt Pharma, iRay Technology, Taimei Medical Technology, Cytek, and Guoke Hengtai.