Hygeia Medical Completes Series C+ Financing to Advance Multi-Pipeline Strategy in Minimally Invasive Oncology Interventions

VCBeat has learned that Hygea recently announced the completion of its Series C+ financing round. This marks Hygea’s second fundraising round in the first half of the year, with Gaorong Ventures serving as the sole investor. Hygea stated that the proceeds from the Series C+ round will be primarily allocated to market and channel expansion, as well as to accelerating the R&D and industrialization of its product pipeline.

Hygea, established in 2010, is a national high-tech enterprise dedicated to the fields of minimally invasive interventional oncology and cryomedicine. Hygea has established the Beijing Key Laboratory of Cryobiomedical Engineering and a postdoctoral research platform. It has developed the ComboCare Knife, the world’s first composite cryo-thermal ablation system that integrates deep cryogenic freezing with high-intensity hyperthermia, providing physicians with a series of solutions for minimally invasive interventional diagnosis and treatment of tumors. China has a substantial base of cancer patients; according to the latest data from the World Health Organization, there were 4.57 million new cancer cases in China in 2020. With the advent of an aging society, the high incidence of cancer is becoming increasingly severe, indicating a vast market for tumor treatment.

Huang Qianfu, founder of Hygea, stated, “Our collaboration with Gaorong Ventures has proceeded very smoothly. We are grateful for the trust placed in us by our esteemed senior mentors! Minimally invasive interventional oncology has rapidly emerged as the fourth pillar of cancer treatment, following surgery, radiotherapy, and chemotherapy. Next-generation minimally invasive cancer therapies, represented by the Combo Knife, are leading the way toward minimally invasive, precise, and intelligent cancer care. With the support of new and existing shareholders such as Gaorong Ventures, we look forward to accelerating the domestic and international deployment of our product pipeline, promoting the widespread application of digital health in cancer diagnosis and treatment, and continuing to innovate in both professional medical solutions and consumer-oriented health products, thereby building a leading platform-based enterprise.”

Yu Jiangtao, Senior Advisor at Gaorong Ventures, stated: “Minimally invasive interventional oncology has witnessed rapid development in recent years, with broad prospects for the future. Hygea’s innovative products, represented by the Combo Knife, have demonstrated significant clinical advantages and commercial potential, delivering precise and effective treatments while ensuring a high quality of life and favorable prognosis for patients. Hygea’s young and highly execution-driven founding team has achieved remarkable milestones and breakthroughs across many critical aspects of product development. We are very optimistic about Hygea’s long-term growth potential. Healthcare is one of Gaorong Ventures’ key focus areas for investment and strategic layout. As a trusted partner to outstanding entrepreneurs, we are committed to providing comprehensive support to foster the company’s healthy and sustainable development.”

Gaorong Ventures is one of the most active venture capital firms in China, dedicated to identifying outstanding entrepreneurs and building long-term value alongside them. Gaorong Ventures’ vision is to “create” a better life, believing that the power of technology and innovation will help humanity achieve a brighter future. Founded in January 2014 by founding partners Zhang Zhen, Gao Xiang, and Yue Bin, Gaorong Ventures focuses on early-stage and growth-stage investments, with a particular emphasis on innovative sectors such as new consumption, new technologies, and healthcare. Over the past seven years, the total assets under management of its USD and RMB funds have amounted to approximately RMB 30 billion. To date, 19 companies invested in or held by Gaorong have successfully completed initial public offerings (IPOs), and more than 20 portfolio companies have achieved valuations exceeding USD 1 billion, with many growing into industry leaders. In the healthcare sector, Gaorong Ventures continues to invest in outstanding enterprises focused on digital health, medical services, new drug development, medical devices, and diagnostics.