Keya Medical Secures Over RMB 200 Million in Series C Funding, Files IPO Prospectus After Triple-Funding Milestone in Medical AI

Recently, Beijing Keya Ark Medical Technology Co., Ltd., the first company in China to obtain a Class III medical device certificate for an AI-based product, announced the completion of its Series C financing round, raising over RMB 200 million. This marks Keya Medical’s third fundraising round within the past nine months. The round was led by IDG Capital, with participation from Source Code Capital and Tasly, while existing shareholder Yahui Capital continued to follow on.

Keya Medical, established in January 2016, is a world-leading artificial intelligence (AI) medical device company. The company focuses on the practical application of big data and AI technologies in the healthcare sector, aiming to build a next-generation AI medical device platform and provide precise medical services to patients, healthcare institutions, and life science research organizations. Its product, “DeepVessel FFR,” received approval in January 2020 as China’s first Class III AI medical device certificate.

As early as February this year, Keya Medical secured a hundred-million-yuan investment led by Kunlun Capital, with co-investment from Shanghai Guofang Fund of Funds, Yahui Capital, and others. Subsequently, in August, the company closed a RMB 150 million Series B financing round led by GGV Capital, with participation from Kunlun Capital, Guofang Fund of Funds, and Yahui Capital. Just three months later, Keya Medical completed its current Series C financing round of over RMB 200 million. Having closed three major funding rounds within nine months, with a cumulative total exceeding RMB 500 million, Keya Medical has firmly established itself as an industry leader in terms of market valuation.

In 2020, the global economy contracted under the impact of the COVID-19 pandemic, leading to more cautious capital investment. Particularly in the medical AI sector, where sustained profitability remained elusive, investors favored targets with higher “certainty.” Nevertheless, Keya Medical repeatedly broke industry financing records despite the dual headwinds of a market downturn and the pandemic. This not only highlights investors’ recognition of Keya Medical’s development trajectory and commercial potential, but also underscores the excellence of its technological capabilities and the scalability of its business model.

According to Keya Medical, this round of financing will continue to support its business expansion in the AI healthcare sector and enhance its global market coverage. It will further solidify the industrialization and commercialization of its existing product lines, while also building reserves for the research, development, and advancement of new product series, thereby accelerating the establishment of a more comprehensive product portfolio with broader coverage of clinical pathways.

Capital recognition always follows a discernible pattern. A review of Keya Medical’s growth trajectory reveals that it is defined by the superlative “most.” It was the “earliest” medical AI enterprise in China to engage in R&D for AI-based medical applications and enter the National Medical Products Administration (NMPA) green channel for approval. It boasts the research team that “best understands” medical AI technology, with many members having participated in multiple world-class AI medical device development projects, demonstrating world-leading expertise in medical device design and development, machine learning, medical image analysis, and natural language processing. Furthermore, it is the enterprise with the “most comprehensive” certification qualifications: Keya Medical is the first AI company in China to simultaneously hold triple certifications from China’s NMPA, the European Union’s CE mark, and the U.S. FDA. Having long maintained a low profile while accumulating strength, Keya Medical has amazed the industry through this series of milestone achievements, becoming an undisputed leader and driver of China’s AI medical device sector.

Keya Medical’s rapid growth has been driven by investors’ keen insight and financial support. Institutional investors in this funding round, including IDG Capital and Source Code Capital, not only endorse Keya Medical’s business model but also share highly aligned values and provide complementary industry resources. This “multi-dimensional synergy model” further enables Keya Medical to advance steadily in the market, adeptly address growing market changes and demands, and deliver more tangible commercial value to the AI healthcare sector while maintaining its leadership and innovative edge.

As a globally leading, technology-driven enterprise, Keya Medical has always adhered to the core R&D philosophy that “the value of all AI medical products must be realized in clinical benefits.” With the goal of creating a “GPS for Clinical Procedures on the Human Body,” the company leverages precise insights into clinical needs to assist clinicians in accurately locating human physiological functions, opening new pathways for clinical interventions, and enhancing and optimizing clinical procedural plans. This approach has established an effective closed-loop model of “R&D (developing leading-edge technologies) – Production (manufacturing compliant products) – Application (aligning with clinical practice).”

This year, Keya Medical has put forward a new product development strategy of “deepening engagement with clinical departments, empowering functional departments, and targeting key diseases.” Aimed at clinical departments, the company is dedicated to applying AI technology in medical diagnosis and treatment, optimizing patient treatment experiences, and assisting physicians in formulating individualized treatment plans for patients. Gradually, it has improved and built a comprehensive product system that covers the entire process of medical diagnosis in clinical departments.

It is understood that Keya Medical has currently established four major product series in its R&D pipeline: “Precision Diagnosis and Treatment Products for Vascular Diseases,” “Precision Diagnosis and Treatment Products for Oncology,” “Intelligent Imaging Diagnosis and Treatment Products,” and “AI Medical Services.” The portfolio comprises more than ten products, many of which are already eligible for various domestic and international certifications. The compliance framework for these product lines is being advanced rapidly and steadily. This demonstrates that Keya Medical’s “Super IP Product Line,” built around the core principles of “proven efficacy, technological excellence, and regulatory compliance,” has begun to take shape.

Keya Medical is dedicated to leveraging AI-driven medical technologies to deploy its products and integrate them into existing clinical pathways, thereby gradually achieving effective data collection and analysis, rapid generation of diagnostic reports, and precise allocation of treatment plans, ultimately establishing new pathways for clinical practice. This approach will significantly enhance the work efficiency of departmental physicians, reduce their workload, alleviate the burden on patients seeking medical care, and bring about transformative changes to current healthcare processes.

To date, Keya Medical has deployed its products across more than 30 provinces in China, established collaborations with over 300 large Grade A tertiary hospitals, co-built more than 200 AI diagnostic centers, and served over 22 million patients. Meanwhile, the company has achieved commercial deployment in more than ten overseas countries, including France, Austria, the Netherlands, Denmark, and Japan. This achievement not only solidifies Keya Medical’s leading position in China’s AI medical device industry but also underscores its high growth potential behind its commercial value.

As market uncertainties dissipate, Keya Medical’s applications for pricing of new medical service items are being progressively approved across multiple provinces in China. This development is poised to accelerate user growth and make the company’s trajectory even more promising for market stakeholders.