WatMind Medical Secures Tens of Millions of RMB in Series B Funding to Advance Microfluidic POCT Chemiluminescence Platforms
Recently, VCBeat (WeChat Official Account: vcbeat) learned that Shenzhen Watmind Medical Technology Co., Ltd. (“Watmind”) has completed a Series B financing round amounting to tens of millions of RMB. This round was invested by Shenzhen Guozhong Venture Capital Management Co., Ltd. (“Guozhong Venture Capital”).
Watmind, established in 2014, has consistently adhered to independent innovation and in-house R&D, focusing on the fields of microfluidics and POCT chemiluminescence. After more than four years of accumulation and development, Watmind has launched the Aurora series for clinical applications, the Tianji series for laboratory testing, and a bulk-reagent OEM product line. Among these, the clinical product line has been adopted by over 100 medical institutions across China, the majority of which are Grade A tertiary hospitals. It is widely applied in departments and centers such as Cardiology, Emergency Medicine, Heart Failure Centers, and Chest Pain Centers. The products facilitate rapid diagnosis of patient conditions, dynamic bedside monitoring of disease progression, and precise assessment of therapeutic efficacy, thereby optimizing clinical workflows and enhancing diagnostic efficiency. They have received consistent acclaim from department heads and clinical users alike.
In addition to vigorously promoting its clinical product lines, Watmind offers bulk reagent products and provides OEM cooperation tailored to customer needs. Furthermore, Watmind’s three major product lines have obtained CE certification, and the company is actively planning its expansion into overseas markets.
Li Quan, founder of Watmind, stated, “2019 was a pivotal year in Watmind’s development. Receiving strong support from the renowned domestic venture capital firm Guozhong Venture Capital at this critical juncture has provided powerful impetus for our market expansion and strategic layout, enabling Watmind to break through in the fiercely competitive medical market. Guozhong Venture Capital has not only provided us with financial support but also brought valuable market resources, which we highly value and currently need most. Watmind will remain unwavering in its product- and quality-centric approach, and our belief and mission continue to be making high-tech medical technologies accessible to the general public.”
"Next, Watmind will make every effort to expand its product line and break through market barriers; while developing the market, it will build an IPOCT health management platform, forming a closed-loop connection with medical care, pharmaceuticals, and health insurance, thereby realizing the medical blueprint for internet-based comprehensive healthcare."
The investment team at Guozhong Venture Capital believes that the overall size of China’s POCT industry has approached RMB 10 billion, maintaining a high growth rate. The introduction and implementation of policies such as tiered diagnosis and treatment and the establishment of chest pain centers have also brought significant benefits to the industry’s development. Watmind has integrated reagent components and blood separation devices into a chip through its globally pioneering microfluidic technology. By leveraging ingenious microchannel design in conjunction with device operational mechanisms, it achieves one-touch testing, disrupting the complex operations associated with traditional large-scale fully automated chemiluminescence analyzers.
Meanwhile, watmind employs a magnetic particle-based dual-antibody sandwich chemiluminescence immunoassay and has overcome technical challenges such as particle loss and poor reproducibility associated with the application of magnetic particles in microfluidic chips. This innovation enables active immune reactions, significantly enhancing both sensitivity and reproducibility.
Guozhong Venture Capital has already made significant investments in the field of high-end medical devices, including Batai Medical, which focuses on the research and development of cardiovascular access balloons; Yingmeida Medical, which specializes in intravascular dual-modality IVUS+OCT imaging technology; and Yingjia Medical, a company dedicated to the development of stapler products.