Proton Health Secures Tens of Millions in Series A Funding to Advance Medical-Grade Vital Signs Monitoring Technology

VCBeat has learned that Hangzhou Proton Technology Co., Ltd. recently completed a Series A financing round worth tens of millions of RMB, co-led by Silicon Port Capital and Qirong Venture Capital, with participation from existing shareholders such as Qikai Investment. The funds will be primarily used for product research and development, market promotion, and corporate operations, supporting the company’s continued deep dive into the R&D of medical-grade vital signs monitoring technology and driving the development of the AI-powered mobile healthcare industry. Following angel investment in 2016 and Pre-A round funding in 2018, Hangzhou Proton Technology Co., Ltd. has now secured nearly RMB 100 million in total financing.

Hangzhou Proton Technology Co., Ltd. was established in September 2015 as an innovative digital health enterprise focused on the research and development of wearable, medical-grade vital signs monitoring technologies. Its core business is to provide users with precise, safe, and convenient screening, diagnostic, and health management services. The company leads technological advancements in AI-driven vital signs monitoring and rapid point-of-care testing within the broader health sector, striving to achieve informatization, automation, and intelligence in vital signs monitoring processes.

Currently, although China’s mobile vital signs monitoring market started relatively late, it boasts substantial demand.Taking the field of patch-based ECG monitoring as an example, according to the “Research Report on the Global and Chinese Patch-Based ECG Monitor Industry and the 14th Five-Year Plan Analysis (2021-2027)” published by QYResearch (QYR), the global market size for patch-based ECG monitors reached USD 3,407 million in 2020 and is projected to reach USD 4,790 million by 2027. The domestic market size in China is expected to grow from USD 565.68 million in 2020 to USD 1,035 million by 2027, with a projected compound annual growth rate (CAGR) of 9.05%, indicating promising prospects for industry development.

According to Wang Chengdong, CEO of Proton Technology,The core team of Proton Technology brings together professionals from prestigious institutions such as Zhejiang University, Tsinghua University, and the University of California, Santa Barbara. Specialized R&D personnel in fields including artificial intelligence, signal processing, flexible materials, and disease prediction and diagnostic models account for more than 50% of the total team size. The entire team possesses strong interdisciplinary research capabilities, extensive R&D experience, and stays abreast of cutting-edge global information and technologies.

Hangzhou Proton Technology Co., Ltd. has successfully developed China’s first patch-type flexible ECG recorder capable of continuous seven-day monitoring and China’s first single-lead, long-term dedicated dynamic ECG analysis software, leveraging its core technology of “AI+” short-range static and long-range dynamic artificial intelligence recognition and diagnostic algorithms for electrocardiograms.

Compared to the 55.2% arrhythmia detection rate of traditional 24-hour dynamic ECG monitors, and the 80.4% (3-day) and 90.9% (5-day) detection rates of short-term ECG recorders currently on the market, the ultra-long-term flexible ECG patch developed by Proton Technology achieved a 96.6% arrhythmia detection rate over 7 days.It excels in signal stability, water resistance, anti-interference capability, and wearing comfort, and has become a leading wearable dynamic ECG monitoring device in China.

Proton Technology ECG Patch (Image courtesy of Proton Technology)

According to Wang Chengdong, as of now, Hangzhou Proton Technology Co., Ltd. has successfully filed 18 invention patents and 5 utility model patents. The company has collaborated with multiple hospitals to conduct more than ten key scientific research projects at the provincial and ministerial levels. Furthermore, it has independently developed a range of NMPA Class II-certified wearable products, including ECG patches, flexible wearable ECG sensors, handheld ECG cards, and flexible temperature patches, which have gained recognition from hospitals, clinical experts, and patients.

Moreover,Proton Technology’s product portfolio now comprehensively covers real-time monitoring scenarios for body temperature and cardiovascular diseases, achieving refined mobile health monitoring applications that span pre-hospital screening, real-time alerts, risk analysis, and post-discharge follow-up. The company has served nearly 500 secondary and tertiary healthcare institutions, more than 20 insurance companies, and close to 300,000 households, with cumulative service engagements exceeding one million.

As one of the investors in this round, Shi Lei, Partner at Silicon Port Capital, stated,Currently, ECG monitoring is in a strategic window of opportunity to reshape the market landscape through extensive technological and business model innovations, offering broad prospects for development. As a leader in China’s clinical-grade ambulatory ECG monitoring sensor device industry, Hangzhou Proton Technology Co., Ltd. boasts robust R&D capabilities and strong product development prowess in areas such as wearable device design, intelligent ECG signal algorithms, and mobile health.Silicon Port Capital is highly optimistic about Proton Technology’s product strategy that combines hardware and software,We look forward to Hangzhou Proton Technology Co., Ltd. expanding its product portfolio into areas such as fetal heart rate monitoring, multi-parameter vital signs monitoring, and sleep monitoring in the future.

Yu Yongping, Partner at Qirong Venture Capital, stated that Proton Technology has accumulated profound expertise and data in AI-based vital signs monitoring, itsThe self-developed Kapachi ECG device achieves an arrhythmia detection rate of 96.6% and a recall rate of 96.1%. It is adaptable to comprehensive ECG health management scenarios both within and outside hospital settings. “Qirong Venture Capital is optimistic about Proton Technology’s R&D capabilities and its comprehensive layout in the field of ECG monitoring, and looks forward to Proton Technology leveraging its industry expertise in ECG monitoring to provide more full-process smart solutions for home health management.”

“Undoubtedly,"AI technology and smart healthcare will be the themes of the medical technology sector in the next decade,"Wang Chengdong, CEO of Proton Technology, summarized that behind every product launched by Proton Technology—from R&D and validation to large-scale clinical application, data accumulation, and market analysis—lies the team’s unwavering professionalism and dedication.“In the future, Proton Technology will continue to focus on the research and development of underlying core technologies such as medical-grade flexible sensors, chips, and algorithms. The coming era will undoubtedly encourage those who can endure solitude and withstand tests, specializing in the field of digital medical technology.”companies that have made long-term, sustained investments in the field.”