BoBom Fangzhou Secures Over RMB 50 Million in Series A Funding; Launches China's First Medical-Grade Non-Invasive Glucose Monitor

VCBeat has learned that Bobang Fangzhou Medical Technology (Beijing) Co., Ltd. (“Bobang Fangzhou”) recently completed an A-round financing of over RMB 50 million. The investment was made by funds under China Venture Capital Fund, Fortune Capital, and Tasly Capital, with Jianyihui (Chaoshan Capital) serving as the exclusive financial advisor.

The bullish sentiment and substantial capital injections from multiple renowned investment institutions further corroborate the capital market’s strong confidence in the healthcare and wellness sector.As the first of its kindNon-invasive Glucose Meter andObtained China's First Medical Device Certification for Non-Invasive Blood Glucose MonitoringofBobio FangzhouIt was stated that the funds from this round would be used for the production and promotion of the home-use non-invasive blood glucose monitor, as well as for regulatory approval and production of the portable non-invasive blood glucose monitor, thereby laying the foundation for the company’s future development and subsequent financing rounds.

Data shows that the overall market size of China's public healthcare sector was approximately RMB 8 trillion in 2019. By 2029, the industry's scale is projected to reach RMB 16 trillion, with its asset base surpassing that of the real estate sector to become the largest industry. Undoubtedly, the medical and health industry is currently in a phase of rapid development and is viewed favorably by numerous investment institutions.

In 2020, a total of 265 financing deals occurred in the medical device and consumables sector, attracting approximately RMB 36.3 billion in investment. The surge in the medical device industry was driven by factors such as the opening of exit channels. Additionally, given the relatively inelastic demand and lower risk profile of medical device companies, along with the industry’s ongoing growth trajectory, the medical device sector has become one of the preferred choices for capital allocation.

From a future-oriented perspective, the healthcare and wellness industry still holds immense potential for growth, which is a key reason why investment firms are collectively bullish on the medical sector. Disruptive innovative medical devices are particularly favored by investors, and the non-invasive glucose meter developed and launched by Bobang Fangzhou undoubtedly falls into this category.

According to data released by the International Diabetes Federation, the number of diagnosed diabetes patients in China reached 116 million in 2019, and is projected to reach 200 million by 2030. This large population has also created a huge market: the "Digital Innovation Report on Diabetes Management" released by VCBeat shows thatThe diabetes market is projected to reach RMB 134.9 billion in 2025, with the smart blood glucose meter market accounting for approximately RMB 18.4 billion.

Currently, intelligent blood glucose monitoring technologies are relatively mature, with a diverse range of related products available. However, the market is still dominated by fingerstick blood glucose meters, which are associated with low patient adherence.Leveraging its “non-invasive” technology, Bobang Fangzhou is gradually capturing market share, with sales data expected to see significant growth.

Bobang Fangzhou, established in 2005, is a Chinese national high-tech enterprise integrating the R&D, manufacturing, and sales of high-end medical devices. The non-invasive glucose meter project was jointly developed by Bobang Fangzhou and Tsinghua University. From R&D to clinical trials, the project has accumulated measurement data from tens of thousands of individuals, and its core technologies have been granted multiple national invention patents.

Compared with traditional finger-prick blood glucose monitoring products, the non-invasive glucometer developed and manufactured by Bobang Fangzhou will significantly improve patient compliance, promote the widespread adoption of blood glucose testing, enhance the efficiency of blood glucose management, reduce the hazards of diabetes, and improve the health status of residents.。2020In [Year], Bobang Fangzhou's second-generation (home-use) non-invasive glucose meter received approval for an expanded scope of its Class III medical device registration certificate.Additionally, its third-generation (personal version) non-invasive blood glucose meterExpected to be approved in the near future。

It is understood that Bobang Fangzhou’s launch of the world’s first home-use non-invasive blood glucose monitor has achievedFully Non-Invasive Measurement, users employ a finger-clip method, eliminating concerns about infection risks associated with skin puncture. Meanwhile, users demonstrate good tolerance and high compliance with non-invasive glucose monitors, allowing for multiple daily tests. Additionally, the home-use non-invasive glucose monitor supports multiple user profiles, offering greater cost-effectiveness.

Bobang Fangzhou’s third-generation product—the personal non-invasive glucose meter—is not only compact and portable but also connects to smartphones, allowing users to access blood glucose measurements via a mobile app. In the future, Bobang Fangzhou will enter the blood glucose management market through its “non-invasive glucose meter + app” solution.

In blood glucose monitoring, skin puncture is a major pain point that directly impacts user experience. The discomfort associated with skin puncture leads to low adherence among many diabetic patients, significantly compromising the quality of their diabetes management. Bobang Fangzhou’s non-invasive testing solution eliminates the need for skin puncture, thereby effectively improving patient adherence. Additionally, its big data-driven blood glucose management system leverages testing data, physical activity, dietary intake, and other factors to help patients achieve precise management and enhance overall blood glucose control.It is foreseeable that the integrated use of non-invasive testing and big data-driven glucose management will disrupt traditional blood glucose monitoring methods and management paradigms.。

It is worth noting that the consumer-grade non-invasive glucose monitor launched by Bobang Fangzhou is the first such device in China to receive approval from the National Medical Products Administration (NMPA), with its accuracy and efficacy recognized by both the NMPA and clinical experts.

Qiu Zan, Chairman of Bobang Fangzhou, revealed: “The home-use non-invasive glucose meter has already been launched on the market, with a significant increase in market deployment scheduled for May 2021. At this stage, sales of the home-use non-invasive glucose meter are primarily conducted through offline channels, while online channels will be explored in the future.”

In the future, Bobang Fangzhou will continue to expand its clinical data to enhance its algorithms. Additionally, Bobang Fangzhou will explore non-invasive continuous glucose monitoring to bring more advanced products to patients with diabetes.

China Venture Capital Fund (CVCF) was established in 2000 as a professional investment institution specializing in venture capital and fund management. CVCF currently manages dozens of RMB-denominated funds, with an investment scope covering angel investing, venture capital, private equity, and industrial M&A. Its key investment sectors include energy conservation and environmental protection, new materials, new energy, high-end manufacturing, rail transit, military and aerospace, pharmaceuticals and healthcare, and the internet. To date, CVCF has invested in over 220 projects and has helped dozens of its portfolio companies list on domestic and international capital markets.

Fortune Venture Capital, established in April 2000, is a renowned domestic venture capital firm under Hunan TV & Broadcast Intermediary Co., Ltd. (000917.SZ). Currently, Fortune Venture Capital manages assets exceeding RMB 30 billion, has invested in more than 560 companies, and has helped over 100 portfolio companies achieve public listings. The firm ranked first for two consecutive years in Zero2IPO’s “Best Venture Capital Firm in China” and has repeatedly been honored among the “Top 10 Venture Capital Firms in China,” demonstrating leading fund operations and investment performance. Fortune Venture Capital primarily invests in TMT, consumer services, healthcare, energy conservation and environmental protection, as well as specialized sectors such as defense industry, intelligent manufacturing, and robotics.

Tasly Capital, founded in 2008, employs over 120 professionals and maintains offices in Tianjin, Beijing, Shanghai, Chongqing, and Hong Kong. Its business scope encompasses fund investment, industrial M&A, financial leasing, and asset management. Leveraging equity investments as a strategic link, Tasly Capital builds a comprehensive healthcare portfolio centered on a “patient-centric” systematic diagnosis and treatment model. The firm focuses primarily on three key therapeutic areas—cardiovascular and cerebrovascular diseases, oncology, and digestive and metabolic disorders—while advancing an integrated “4D” investment strategy.

Jianyi Club (Chaoshan Capital), established in 2011, is the most active primary market investor community in China. It has nearly 2,000 members (more than one-third of whom are partners) and covers nearly 1,000 institutions. The projects invested by its members encompass almost all star projects in the market. The member institutions basically cover the top 50 institutions ranked by Zero2IPO. Jianyi Club provides various public welfare services to investors and organizes more than five activities per month. Members are primarily investment directors or above with successful investment cases. Related brand activities include, but are not limited to, closed-door micro-roadshows, closed-door salons, precise government investment promotion, project exits, and post-investment communities. Jianyi Club’s financial advisory services focus on the healthcare and technology sectors, with a transaction volume of nearly RMB 2 billion in 2020, completing seven transactions.