Maimo Vacuum Completes Tens of Millions of RMB Series A Financing to Develop Domestic CT Tubes and Break Import Monopoly

VCBeat has learned that Raymemo (Wuxi) Vacuum Technology Co., Ltd. (“Raymemo”) recently completed a Series A financing round worth tens of millions of RMB, with investors including the well-known healthcare investment firm Sherpa Healthcare Partners and other strategic investors. The funds will be used to enhance production lines and expand market presence.

Raymemo, established in September 2017, is an innovative R&D company specializing in X-ray technology. Its business primarily covers X-ray tube assemblies for X-ray machines, CT tube assemblies, and sixth-generation static CT X-ray source modules. Several of its medically diagnostic rotating-anode X-ray tube assemblies (CT tubes) have obtained medical device registration certificates.

As the signal source of CT equipment, the X-ray tube is one of the most core components in CT devices, and its performance directly affects the image quality and service life of CT. At present, there are very few enterprises in China that can manufacture X-ray tubes for CT use, and they basically rely on imports. The domestic CT X-ray tube market is monopolized by foreign brands such as GE, Philips, Siemens, and Varian.

To master core technologies and break the monopolies held by companies such as GE, Philips, and Siemens, Raymemo has leveraged its robust R&D team to focus on the development of X-ray tube assemblies. Within just one year, Raymemo secured one invention patent, more than 20 utility model patents, as well as software copyrights and design patents.

The CT X-ray tubes developed by Raymemo are classified as Class II medical consumables, boasting broad market prospects and significant potential for upgrades. Currently, Raymemo has obtained certification from the National Medical Products Administration (NMPA). Its flagship products, the RS350 and RS500, have secured both Medical Device Registration Certificates and Production Licenses. Additionally, the company has achieved ISO 13485 and ISO 9001 system certifications, ensuring consistent product quality.

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Raymemo has obtained medical device registration certification, breaking the monopoly of foreign enterprises in the CT X-ray tube industry. Its industrialization platform has completed production line layout and is about to commence operations, which will significantly advance the localization of CT X-ray tubes in China. Mr. Cao, Chairman of Raymemo, stated, “Once funding is in place, we will procure additional large-scale equipment to prepare for the subsequent surge in production capacity and sales.” Currently, Raymemo has begun initial engagements with end customers and has gained widespread recognition from them.

Mr. Cao stated, “Raymemo boasts a comprehensive team covering design and development, production, and after-sales market support. All core team members have overseas work or academic research backgrounds. As pioneers in China’s CT X-ray tube industry, they have been genuinely grounded throughout the entire journey of building our products from scratch, encompassing every aspect from internal components to external integration.”

As of the end of 2019, Raymemo had received numerous honors and funding at the provincial, municipal, and district levels. “We aim to become a global hub for X-ray technology innovation and improve the diagnostic and treatment experience for people in China.”

It is understood that Raymemo’s RS350 and RS500 medical diagnostic rotating-anode X-ray tube assemblies (CT X-ray tubes), serving as X-ray radiation sources, can seamlessly replace imported products and rapidly integrate with hospitals’ existing imaging systems.

Compared with imported products, Raymemo’s CT X-ray tubes not only ensure high quality but also come at a lower cost. Therefore, Raymemo holds a natural advantage in terms of selling price. In addition, tailored to the specific needs of hospital imaging diagnostics, Raymemo provides rapid and responsive service, significantly reducing equipment downtime and indirectly helping hospitals increase revenue.

Mr. Cao stated, “In response to the personalized needs of system manufacturers, Raymemo enters into commissioned development agreements with them and maintains close collaboration throughout the R&D process to fulfill their specific requirements.”

In terms of patent protection, Raymemo has been continuously strategizing since its inception, with current coverage encompassing both relevant technologies and future industry technological trends.

“Finally, Mr. Cao told VCBeat, ‘This year, we plan to continue raising tens of millions of yuan in financing to support the industrialization and market expansion of our company’s platform.’”

Sherpa Capital, established in 2018, focuses on healthcare and medical projects in China or closely related to local Chinese applications with high-growth potential, including but not limited to pharmaceuticals, medical devices, healthcare services, and internet and technology solutions related to healthcare. As a professional healthcare investment fund, Sherpa Capital’s core team members have collaborated for many years, possessing extensive investment experience and a strong track record in China’s healthcare industry. The team is committed to being the “sherpa behind the climbers,” empowering entrepreneurs to reach the pinnacle of their careers.