Haitai Novel Optics Secures STAR Market IPO Approval Following Angel Investment from Draper Dragon (Ding Capital)

On September 29, 2020, the initial public offering (IPO) application of Qingdao NovelBeam Technology Co., Ltd., an angel-round investee of DFJ DragonVenture (Dingxin Innovation), was successfully approved for listing on the STAR Market.

As one of the innovative companies in niche sectors that received early-stage investment from Vertex Venture China, NovelBeam Technology began receiving venture capital funding from Vertex Venture China in 2009. After a decade of perseverance, it has finally come to fruition.

NovelBeam is a high-tech enterprise in the medical imaging equipment industry. Since its establishment in 2003, the company has consistently adhered to independent research and development and innovation of high-end medical imaging devices, striving to become a world-leading technology company in the field of medical imaging equipment and providing comprehensive solutions for clinical medicine. According to public information, NovelBeam's operating revenue and net profit have increased year by year in recent years, with core revenue mainly coming from medical endoscopic instruments, accounting for more than 70% of its main business income.

NovelBeam focuses on medical applications, continuously developing and refining its product portfolio in the field of minimally invasive medical devices while maintaining and strengthening its competitive advantages in endoscopy. Its medical endoscopic products include high-definition fluorescence/white-light laparoscopes, high-definition fluorescence/white-light endoscopic light source modules, and high-definition fluorescence/white-light camera adapters/lenses. The company’s optical products mainly comprise medical optical products, industrial and laser optical products, and biometric recognition products. Medical optical products include dental endoscope modules, fluorescence filters, and aesthetic device filters; industrial and laser optical products include collimating/focusing lenses, scanning mirrors, polarizing beam splitters (PBS), and non-polarizing beam splitters (NPBS); and biometric recognition products include palm vein scanners and fingerprint scanners.

Guided by market demand and technological innovation, NovelBeam is committed to independent research and development in the field of medical imaging devices, with its main products holding competitive advantages in the industry. The company’s quality control for medical endoscopes has achieved ISO 13485 quality management system certification and passed on-site audits by China’s NMPA, the US FDA, South Korea’s MFDS, and Brazil’s INMETRO. Its major products are exported to countries and regions with strong medical device manufacturing capabilities, including the United States, Europe, and Singapore. In 2019, the export value of its high-definition fluorescence laparoscopes accounted for 11.34% of China’s total endoscope exports, ranking first.

Through years of continuous investment in research and development and technological innovation, the company has achieved significant competitive advantages in product quality and technology, establishing a strong brand image. NovelBeam has successively undertaken numerous key national, provincial, and municipal science and technology projects, including the National 863 Program’s guidance project titled “Mass Production Technology for Key Optical Components of High-Definition Projection Display Light Engines,” and the National Key R&D Program project titled “Ultra-High-Resolution Confocal Fluorescence Microendoscopy for Early Lung Cancer Diagnosis.”

Furthermore, NovelBeam has successively received numerous honors, including being recognized as a High-Tech Enterprise in Qingdao, a Demonstration Enterprise for Specialized, Refined, Differential, and Innovative SMEs in Qingdao, and an “Invisible Champion” among manufacturing SMEs in Qingdao. It has also been designated as the Qingdao Endoscopy Expert Workstation, the Qingdao Composite Endoscopy Engineering Research Center, the Qingdao Enterprise Technology Center, and the Qingdao International Science and Technology Cooperation Base for Precision Optical Applications.

Since the acceptance of its IPO application in April this year, NovelBeam’s listing process has achieved landmark results.

Dingxin Venture Capital Fund was co-founded in March 2006 by venture capitalists Mr. Zhao Guangdou, Mr. Li Guangxin, Mr. Tang Zhongyi, and Mr. Tim Draper. It is a venture capital fund established through a partnership between the globally renowned Draper Fisher Jurvetson (DFJ) and Silicon Valley’s Longmai Venture Capital Fund. Headquartered in Silicon Valley, USA, the fund has set up management and consulting subsidiaries in Shanghai. It manages more than ten USD- and RMB-denominated venture capital funds, including “DFJ Longmai,” “DFJ Longsheng,” and “Dehui Jiufang,” as well as several “Dingxin Digital Asset Investment Funds” based in Silicon Valley. The fund has invested in over 100 projects in the life sciences, healthcare, and high-tech sectors, achieving substantial returns.

Dingxin Innovation Fund has always focused on innovative investments in the high-tech sector. Leveraging its advantages in both China and Silicon Valley, along with the management team’s extensive investment experience, professional expertise, and venture capital network, the fund is committed to becoming the most valuable partner for high-tech innovation companies. The founders of the portfolio companies invested in by DFJ DragonWave Fund are predominantly senior overseas-returnee talents or outstanding entrepreneurs who have received various technological awards, such as the First Prize of the National Science and Technology Progress Award. More than 50% of the projects invested in by the fund’s team have grown into leading enterprises and industry frontrunners in their respective niche sectors.