Xunshi Technology Secures Over RMB 1 Billion in Series B Funding to Advance Chairside Digital Dentistry with 3D Printing

VCBeat (WeChat ID: vcbeat) has learned that Zhejiang SprintRay Co. (hereinafter referred to as “SprintRay”) has announced the completion of its Series B financing round, raising over RMB 100 million. The proceeds will continue to be dedicated to the research and development of digital products in the dental field and market expansion. It is reported that this round of financing was jointly invested by Chende Capital and Yuanyi Capital. Previously, SprintRay had completed angel and Series A financing rounds totaling tens of millions of yuan.

SprintRay Co. is a platform-based enterprise engaged in the research and development of 3D printing equipment and consumables technologies, providing customers with comprehensive 3D printing solutions. The company has established significant technical barriers in optical engines, stereolithography (SLA) printing algorithms, and high-performance 3D printing materials, and has formed partnerships with multiple global leading enterprises, including BASF and Texas Instruments. Currently, the company’s product portfolio spans the consumer, industrial, and medical sectors. Among these, digital dentistry represents SprintRay’s core strategic focus at the present stage.

Currently, SprintRay Co.’s core products in the digital dentistry sector include the “MoonRay 3D Printer” and the “SprintRay Pro Dental Printer,” among others. The MoonRay series was first launched in the United States in 2017 and received the CES Innovation Award at the Consumer Electronics Show in Las Vegas that same year. Within two years of its market release, the product captured nearly half of the U.S. clinic-based 3D printing market share, becoming one of the most popular 3D printers among American dentists.

MoonRay 3D printers, when integrated with intraoral scanners, enable dental clinics to fabricate products such as surgical guides, dental models, clear aligner models, resin crowns, and whitening veneers. This significantly enhances dentists' workflow efficiency and patient satisfaction, reduces production costs, and realizes the key concept of “Same-day Dentistry.” The MoonRay series has tangibly boosted income and competitiveness for numerous dentists. This year, SprintRay Co. launched another flagship product, the SprintRay Pro. As an upgraded version of the MoonRay, it offers a larger build volume, faster printing speeds, and excellent cost-effectiveness, while enabling a broader range of clinical applications.

SprintRay Co. boasts a young team of professionally trained experts. Among its four founders are two PhD holders from the United States, one PhD holder from Singapore, and one master’s degree holder from Zhejiang University. This is a world-class R&D team specializing in 3D printing technology. Founders Zhang Jing and Amir both conducted research on 3D printing technologies at the Rapid Prototyping Laboratory of the University of Southern California. Dr. Bao Haifeng, another founder, brings over a decade of experience in the development of photopolymer resins and holds more than ten issued invention patents in the field of materials. Founder Jin Liang also holds dozens of domestic and international invention patents in the mechanical engineering sector. The company possesses integrated R&D capabilities spanning hardware, algorithms, and materials, and has accumulated more than 100 granted patents.

Equipped with the “technical expertise” of 3D printing, SprintRay Co. initially chose the dental field as its entry point. Zhang Jing explained, “At this stage, we believe the dental sector is the most suitable area for 3D printing technology to make an impact. The early development of 3D printing is well-suited for highly personalized products, and the dental field fits this characteristic. With 1.4 billion people in China, each individual’s teeth are unique, so dental-related products basically require customization.”

Zhang Jing also added that dentistry is a suitable application area for the initial development of 3D printing technology. As the technology matures and costs decrease in the future, the applications of 3D printing will expand increasingly—from personalized, one-off custom products to industrial-scale production of thousands or even tens of thousands of units. SprintRay Co. has also made corresponding strides in the industrial sector, with offerings such as large-format vat photopolymerization industrial-grade printers, including the "Large DLP 3D Printer" and "SLA Industrial 3D Printer."

According to incomplete statistics, SprintRay Co. has a total of 11 models of 3D printers, including 6 stereolithography (SLA) printers and 5 non-SLA printers.

Selected 3D Printing Products from SprintRay Co.

In 2013, the core technologies of 3D printing were open-sourced, giving rise to a surge of startups in the field. SprintRay Co. emerged during this wave. Six years later, while some 3D printing companies were eliminated, SprintRay Co. gradually moved to the forefront.

“During those years, societal expectations for 3D printing were extremely high, yet the actual technology at the time struggled to meet such imagined heights, with limitations in printing efficiency and material functionality. At its inception, SprintRay Co. focused on fundamental R&D of core technologies,” Jin Liang told VCBeat. “However, it was only after our technology matured that we realized the true challenge of 3D printing lies in identifying suitable industry applications.”

“In the field of 3D printing, companies that have achieved significant growth are those that have identified suitable application niches,” said Jin Liang. “3D printing may penetrate the aerospace sector or the military industry; its future application prospects are vast. SprintRay Co. has chosen the dental sector as its entry point.”

SprintRay Co. has three strategic pillars in the dental field, which complement each other to build a comprehensive digital chairside solution. The first pillar is the company’s core ecosystem, comprising its key product lines: 3D scanners (data input), digital design services (data processing), and 3D printers (data output). While the 3D printers and scanners have been introduced previously, the digital design services involve processing acquired data to help dentists smoothly transition from traditional to digital dentistry. SprintRay’s team is currently developing this segment; through the establishment of “Yueya,” a 3D digital dental design brand, the company assists dentists in creating digital dental models.

The second pillar is the company’s strategic layout in resource accumulation. Driven by the first pillar, SprintRay Co. has amassed a large base of dental clients both domestically and internationally, achieving rapid growth. These clients are loyal advocates of SprintRay’s products, and through their continuous use and innovation, the company has accumulated extensive case data—a valuable asset for the development of digital dentistry.

Part Three focuses on brand strategy. SprintRay’s 3D printing brand is highly renowned in the U.S. dental healthcare sector; however, as digital dentistry in China is still in its early stages, SprintRay has only recently initiated its domestic market expansion. The company is gradually building its reputation for 3D printing in China by participating in various online and offline forums and conducting public education initiatives on digital dentistry.

SprintRay Co. founder Zhang Jing responded to the unsolicited endorsement from two investment firms: “This recognition is underpinned by SprintRay’s top-tier R&D team in 3D printing technology and its international operations team. As one of the earliest companies to enter the digital dentistry sector, SprintRay has gained full acceptance in European and American markets, which has enabled us to secure a first-mover advantage in the domestic market. Furthermore, as China’s most specialized provider of stereolithography (SLA) 3D printing technology with independent intellectual property rights, we have established ourselves as a platform company for 3D technologies. This strategic positioning allows us to expand into broader application fields, thereby creating more substantial growth opportunities for SprintRay’s future.”

Zhu Tianji, Vice President of Chende CapitalAffirmed the value of SprintRay Co.: “First, the SprintRay team possesses deep technical reserves and composite R&D capabilities—the team has substantial accumulation in hardware, algorithms, materials, and other aspects, attracting industry giants in related fields to cooperate with it; meanwhile, the team not only demonstrates outstanding R&D capabilities but also exhibits excellent business acumen. After the company’s products were launched, they rapidly captured nearly half of the market share in the highly competitive U.S. market, and have delivered satisfactory financial performance over the past three years.”

Furthermore, we recognize the “best-in-class” competitiveness demonstrated by SprintRay’s product portfolio. The company’s products enjoy a strong reputation and have earned widespread user affinity and trust. Meanwhile, the company demonstrates profound insight into customer needs and exceptional product iteration capabilities. Chende has maintained sustained focus on the dental sector, and we believe there is currently a substantial, transformative opportunity for digital dentistry in China. Advances in technologies such as 3D printing, CAD/CAM, and 3D digital imaging will introduce disruptive models to the market, significantly enhancing practitioners’ economic returns while improving efficiency and user experience. We are optimistic about the significant opportunities SprintRay will capture in the Chinese market in the future.”

Tang Yinan, Vice President of Yuanyi Capitalcommented as follows: "The global dental services market, valued in the trillions, has seen its mainstream diagnostic and treatment workflows and production methods remain stuck in the 'analog' era, with no fundamental changes over the past few decades. Outdated data acquisition and production methods have led to inefficiencies across the industry chain, resulting in significant pain points in user experience and clinical efficiency. In recent years, however, the dental industry has been undergoing a digital revolution driven by the introduction of information technology and advanced manufacturing technologies. SprintRay Co. has targeted the core element of this digital transformation—chairside 3D printing solutions—creating a closed-loop system encompassing intraoral scanning, design, and production. This approach significantly enhances dentists' diagnostic and treatment efficiency and quality, reduces costs, and improves the patient care experience."

The SprintRay team possesses a global vision and strategic layout, establishing a model of “world-class technology + Chinese manufacturing + global sales.” By combining robust product innovation capabilities with the advantages of a low-cost, high-quality supply chain, the company has rapidly penetrated the market with superior cost-performance ratios. We anticipate that SprintRay, as an outstanding international team, will become a leader rather than a follower in the digital dentistry industry.

Chende Capital is an investment firm focused on the life sciences and medical technology sectors, managing multiple USD and RMB funds with a total asset under management exceeding RMB 4 billion. Led by a professional team with extensive experience in the healthcare industry, Chende Capital has completed investments in over 40 projects and achieved successful exits from several portfolio companies. The firm is committed to cultivating leading enterprises in the healthcare sector and delivering optimal returns to its investors.

Yuanyi Capital, established in 2016, is an early-stage venture capital fund focused on the healthcare technology sector, managing both RMB and USD funds. To date, Yuanyi Capital has invested in 39 companies, one of which has gone public, more than two-thirds have secured subsequent financing rounds, and many have emerged as industry leaders. Yuanyi boasts a diverse team whose partners collectively possess over 40 years of experience in investment and operational management, enabling them to better serve entrepreneurs and deliver superior investment returns.