SoonSolid Technology Secures Hundreds of Millions in Series C Funding to Accelerate Global Digital Dentistry Solutions

Zhejiang SprintRay Technology Co., Ltd. (hereinafter referred to as “SprintRay Technology” or “SprintRay”) recently announced the completion of its Series C financing round, totaling hundreds of millions of yuan.This round of financing was led byChina Life Big Health FundLead investor, with co-investment from Keqiao Industrial Investment Fund, Kunlun Capital, Qianhai Fund of Funds, Sinopharm Capital, and CAS Star.With the smooth progress of this round of financing, and the company’s new generation of professional dental 3D printer, SprintRay^®With the launch of the Pro series products and Print Companion, SprintRay Co. is committed to extending its successful experience in overseas dental markets globally, accelerating the comprehensive digitalization of clinical dentistry, and providing dental institutions, dentists, and patients with more convenient, efficient, and precise diagnostic and treatment solutions.

SprintRay Co. is a global high-tech conglomerate centered on the research and development of 3D printing equipment and materials, providing a wide range of 3D printers, peripheral devices, consumables, and digital medical diagnosis and treatment solutions. Since its inception, SprintRay has been highly favored by local governments, receiving significant attention and support. The current round of financing also saw investment from the Keqiao Industrial Investment Fund, fully demonstrating the support of local government industrial guidance funds for talent-driven enterprises in the region. Throughout its development, SprintRay has placed great emphasis on product research and innovation, assembling a core technical team that includes one expert from the National “Thousand Talents Plan,” three experts from the Zhejiang Provincial “Thousand Talents Plan,” two experts from the Shaoxing Municipal “Global Talent Program,” and several world-class expert advisors, including academicians of the Chinese Academy of Engineering. This provides a solid foundation for SprintRay’s strategic expansion into the global digital dentistry market.

Through years of operation in the dental market, SprintRay, a brand under SprintRay Co.^®Established SprintRay Dental Users, the largest 3D printing communication platform for dentists in the United States, with over 4,000 active dentist members. Dentists engage in discussions on digital dental practical applications and provide feedback on issues encountered during use. SprintRay^®Dedicated staff will assist dentists in resolving issues while collecting key needs and suggestions from the platform. Based on this feedback, R&D personnel will upgrade existing equipment and develop new products.

Guided by the principle of being dentist-friendly and prioritizing dentists’ actual needs, SprintRay Co. has gradually built a one-stop digital dental service system. This system integrates the cloud-based Dashboard 2.0, the Design Service platform, and the Internet (SprintRay^®official website), and devices (dental 3D printers, ProCure, and ProWash/Dry) are interconnected to form a digital dental IoT, enabling effective connectivity among users, machines, and objects.

Schematic Diagram of the Dental Cloud Platform

Cloud Platform Dashboard 2.0 is a forward-looking product within SprintRay Co.'s digital dentistry ecosystem. The front-end operations of the entire service system can be completed through data collection, upload, and distribution on this platform. Therefore, most front-end tasks, excluding treatment procedures, can be performed by nurses. In the database, doctors can view printing history and consumable usage; clicking on high-demand consumables will redirect them to the purchasing website (SprintRay^®official website) to complete material reserves.

Design Service can be simply understood as a dental design platform. The platform is compatible with all intraoral scanners currently available on the market. Clinic staff initiate design requests on the platform, and designers assign tasks based on the application and ultimately complete the designs. Clinics only need to confirm printing on the platform, after which the relevant data is uploaded to the dental 3D printers owned by the clinic. The platform provides a chat function, allowing clinic staff to communicate detailed requirements with designers.

The front-end equipment is primarily from SprintRay.^®Pro Dental 3D Printer currently holds a 50% market share in the U.S. dental market. In response to user needs, SprintRay launched the Pro55 ultra-high-precision printer in September 2020. This device is primarily used for clinical treatments such as temporary crowns, permanent crowns, and restorations. Complementing the Pro series, it makes digital dental treatment more comprehensive. Upon its release, the device received widespread acclaim from dentists. For post-printing processing, in addition to the flagship Pro Cure curing unit, SprintRay developed the Pro Wash/Dry cleaning and drying machine based on actual customer needs during the pandemic, also launching it in September. This further reduces post-processing time and lowers time costs for users. All front-end equipment can be operated by nurses, allowing dentists to focus on providing diagnostic and treatment services to patients.

SprintRay^®Product Family

The one-stop digital dentistry service system facilitates the storage and utilization of dentists’ digital diagnostic and treatment data, while eliminating non-clinical administrative burdens. This allows dentists to focus on their core practice and deliver superior patient care. The system not only embodies SprintRay’s people-centric service philosophy that “3D printing has the power to change lives,” but also demonstrates its strength in strategically positioning itself within the global digital dentistry market.

While achieving success in the overseas dental market, the company has also made significant strides in its dental business in China. Within just one year, numerous Chinese dental hospitals and clinics have begun adopting SprintRay’s digital dental services. Moving forward, SprintRay will continue to drive the digital transformation of China’s oral healthcare industry, increase its domestic market share, and accelerate its global expansion in digital dentistry.

Jin Liang, Founder and General Manager of SprintRay Co.“Digital dentistry is a prime sector for 3D printing applications. SprintRay Co. will continue to deepen its expertise and commitment to dental applications. The successful completion of this financing round not only reflects the capital market’s recognition of our company but also underscores the value of our mission. We will increase R&D investment, enhance brand influence, and drive the global development of digital dentistry through continuous innovation. Our dedication to dentistry is genuine and profound.”

In the future, SprintRay will focus on medical 3D printing applications and digital solutions as its core industries, vigorously developing and promoting the "3D+" concept. Within the frameworks of Industry 4.0 and Made in China 2025, the company is committed to making 3D printing technology a powerful tool that truly transforms manufacturing standards.

Head of China Life Equity Investment CompanyMs. Zhang LeidiSprintRay Co. has demonstrated that digital technologies have disrupted traditional dental treatment processes, significantly reducing treatment time and costs while enhancing patient service experiences, thereby profoundly transforming the entire dental industry. Specializing in the field of dental 3D printing, SprintRay boasts a professional, pragmatic, and efficiently collaborative international entrepreneurial team. The company possesses outstanding technical expertise and extensive industry experience in software, hardware, materials, and design, with its products widely recognized across the industry. In recent years, SprintRay has achieved rapid performance growth and has emerged as a global leader in dental 3D printing. China Life Health Industry Fund aims to partner with SprintRay to jointly facilitate the digital transformation, upgrading, and innovative development of the dental industry.

Ms. Zou Min, Partner at Sinopharm CapitalStatement: First, we extend our congratulations to SprintRay on the successful completion of this round of financing. SprintRay has assembled a team of top global talents in the field of 3D printing technology. Through continuous exploration, it has identified a commercial breakthrough in the dental sector and gained widespread recognition from dental clinics and practitioners in the U.S. market. In China, with the growing prevalence of intraoral scanning and the diversification of digital dental applications, the adoption of 3D printing-related hardware, software, and services is becoming increasingly extensive and frequent. Moving forward, we will leverage Sinopharm Dental’s advantages in its high-quality nationwide dental distribution channels and services to enable Chinese dental clinics and practitioners to access premium global 3D printing products and services at the earliest opportunity, thereby supporting SprintRay’s rapid growth in the domestic market.

According to additional reports, China Life Insurance and SprintRay Co., Jiangsu Communications Holding, AVIC Leasing, China Eastern Airlines Group, Shanghai Land Group, and Ningbo Urban Construction Investment signed agreements on October 23 regarding China Life’s investment projects in the Yangtze River Delta region, establishing strategic partnerships. This agreement between China Life and SprintRay aims to jointly promote the further development of China’s healthcare industry.

Sinopharm Capital Management Co., Ltd. is a professional equity investment institution focused on the healthcare sector, established by Sinopharm Group. It possesses profound insights into the development, industrial operations, and capital management of the healthcare industry. Committed to becoming a discoverer, excavator, integrator, and realizer of value in China’s healthcare industry, Sinopharm Capital drives industry-wide development and managerial excellence by focusing on innovative and high-growth enterprises in specialized sectors. It serves as a provider of integrated resource solutions aligned with the strategic development needs of its portfolio companies, ultimately delivering higher-quality and more affordable healthcare services to the Chinese public.