Wangli Tech Secures Tens of Millions in USD in Series A+ Financing Led by Boyuan Capital with Strategic Investment and Collaboration from Kangning Hospital

VCBeat (WeChat ID: vcbeat) has learned that Wangli Technology, a leading Chinese digital therapeutics platform for mental health disorders, recently announced the completion of its Series A+ financing round, amounting to tens of millions of US dollars. The round was led by BioTrack Capital, with Kangning Hospital, China’s largest listed specialized psychiatric hospital group, participating as a strategic investor. Existing shareholders SIG and Changling Capital continued their participation. Yicheng Capital served as the exclusive financial advisor. The proceeds from this financing will be allocated to the R&D of the company’s digital therapeutics pipeline for mental disorders, clinical trials and regulatory registration, market expansion, and team enlargement, thereby accelerating the development and clinical validation of its digital therapeutics portfolio.

Meanwhile, Wangli Technology has entered into a strategic cooperation agreement with Kangning Hospital. The two parties will engage in deep collaboration to advance clinical research on Wangli Technology’s existing digital therapeutic products for mental disorders such as addiction and depression. Furthermore, Wangli Technology’s established digital therapeutic solutions will be integrated into Kangning Hospital’s offline and online diagnostic and intervention services for patients with mental disorders. This integration combines the innovation of digital therapeutics with Kangning Hospital’s professional diagnostic and treatment services, thereby addressing the broader public’s needs for mental disorder treatment and mental health improvement.

In China, the population affected by mental disorders is extremely large. Various types of mental illnesses cause significant physical and psychological harm to patients, and due to their incurable nature, they impose a substantial burden on both patients and their families, becoming an unavoidable social issue.

Traditional diagnostic and treatment methods rely on subjective information, leading to low disease recognition rates; traditional psychiatric medications and physical therapiesLimited therapeutic efficacy and significant side effects fail to meet patients’ clinical needs, causing long-term distress for individuals with mental disorders.Digital therapeutics can be used either as a standalone intervention or in combination with pharmaceuticals, medical devices, or other therapies, thereby significantly enhancing the efficacy of conventional treatments. Meanwhile, due to their convenience, high level of privacy, ability to boost patient engagement through gamification and other methods, and absence of side effects associated with traditional treatments such as medications, digital therapeutics can effectively improve patient adherence and demonstrate substantial clinical application value.Digital therapeutics for mental disorders can simultaneously serve tens of millions of in-hospital patients and a broader population of sub-health individuals outside hospitals, boasting broad application prospects and a market potential reaching the hundred-billion-yuan level.In clinical diagnosis and treatment, digital therapeutics for mental disorders will extensively serve psychiatric outpatients and address the comorbid mental health needs of tens of millions of patients with other diseases. Meanwhile, they can provide broader early screening and preventive interventions for the hundreds of millions of sub-health individuals in China, thereby unlocking a market potential worth hundreds of billions of yuan.

Wangli Technology is a rare domestic technology platform that builds its core competitive moat on technological R&D and data accumulation, dedicated to developing digital therapeutics for mental disorders with rigorous medical foundations that meet clinical needs and clinical trial requirements.After years of dedicated development, Wangli Technology has accumulated tens of thousands of intervention and assessment data cases, and has established a scalable digital therapeutic assessment and intervention technology platform based on this data. Building upon this platform, Wangli Technology has developed two major product lines—intervention and assessment—and created digital therapeutic products targeting more than ten different conditions, including addiction, depression, and anxiety, by employing tailored technical approaches and task designs for various mental disorders and psychological issues.

Wangli Technology firmly believes that meeting clinical needs is the most important value of digital therapeutics products.Wangli Technology has always prioritized meeting clinical needs in its years of product research and development. By accumulating data from tens of thousands of cases, the company has established comprehensive data models and patient learning curves for various conditions based on its algorithms and platform, thereby effectively enabling assessment and precision intervention. In therapeutic areas such as addiction, depression, and cognitive impairment, Wangli’s digital therapeutics products have demonstrated clear and effective results in terms of assessment accuracy, improvement of core symptoms through intervention, and enhanced patient adherence. Meanwhile, Wangli Technology has engaged in deep collaborations with three leading domestic psychiatric institutions—the Second Xiangya Hospital of Central South University, Peking University Sixth Hospital, and Shanghai Mental Health Center—as well as numerous other psychiatric healthcare facilities. Its core products are currently being introduced into hospitals and undergoing clinical trials, positioning Wangli to become one of the first companies in China to receive certification from authoritative bodies for digital therapeutics targeting mental disorders.

Regarding this round of financing, Ma Jinbo, Project Leader at BioTrack Capital, stated: “We firmly believe that digital therapeutics in the field of mental disorders possess both clinical and commercial value, representing the most investment-worthy niche within the digital therapeutics sector. However, we insist that product development must prioritize clinical verifiability as a core metric. Wangli Technology is one of the few digital therapeutics companies we have identified that possesses platform technology for digital therapeutics and is steadfastly committed to clinical work. Its clinical data leads the industry, and there are clear expectations for progress in expanding its platform-based technologies to multiple indications for future mental disorder treatments. We look forward to Wangli Technology partnering with Kangning Hospital to address clinical challenges through innovative technologies, bringing inner light to more patients with mental disorders and individuals in a sub-health state.”

Guan Weili, Chairman of Kangning Hospital, stated, “Improving treatment outcomes for patients with mental disorders has been the consistent goal pursued by Kangning Hospital over its more than 20 years of operation. Wangli Technology’s digital therapeutics products have truly impressed our entire medical and nursing staff. In the future, Kangning Hospital will enter into an exclusive partnership with Wangli Technology to comprehensively apply its digital therapeutics products among patients at Kangning’s offline physical hospitals and Yining Health Internet Hospital. By integrating these innovations with traditional diagnosis and treatment, we aim to serve the mental health needs of a broader population and uphold Kangning’s core values of ‘Revering Life and Serving with Humility.’”

Li Dai, founder of Wangli Technology, stated: “We extend our gratitude to BioTrack Capital, a top-tier investment firm, and Kangning Hospital, an industry partner, for their recognition of Wangli Technology. At a time when digital therapeutics had not yet gained traction in China, we remained steadfast in our product research and development efforts. Driven by the mission to create digital therapeutic products with both clinical and commercial value, we have achieved significant results. Looking ahead, Wangli Technology will continue to explore the human brain as its core mission, deepen its pipeline of digital therapeutic products and platform technology R&D, and explore diversified applications of these products in both in-hospital clinical settings and out-of-hospital services. We aim to deliver medically valuable digital therapeutic solutions to patients with mental disorders and individuals in suboptimal health conditions, leveraging technological innovation to benefit society and realize value.”

BioTrack Capital, founded in 2017, is a specialized investment firm dedicated to investing in and incubating outstanding healthcare startups in the Chinese market. We are not just investors; we are long-term partners to entrepreneurs. We provide sustained support to the most exceptional healthcare founders, cultivating the next generation of leading enterprises in China’s healthcare industry.

Wenzhou Kangning Hospital (Kangning Hospital Affiliated to Wenzhou Medical University), founded in 1997, is currently the only non-public Grade A tertiary psychiatric specialty hospital in China and a National Key Clinical Specialty (Psychiatry) unit. Centered around Wenzhou Kangning Hospital, Wenzhou Kangning Hospital Co., Ltd. has expanded its operations from Wenzhou to nationwide. On November 20, 2015, “Kangning Hospital” was listed on the Main Board of The Stock Exchange of Hong Kong Limited, becoming the first listed psychiatric specialty hospital company in China.