Zsquare Secures $10M Funding to Advance Disposable Fiber Endoscope Technology

VCBeat (WeChat ID: vcbeat) has learned that on February 27, 2019, Israeli medical device company Zsquare announced it had secured $10 million in financing. The round was led by Chartered Group, with the funds primarily allocated to the development of the MultiPly Mini 0.45mm fiber-optic endoscope.

Zsquare is a medical device company headquartered in Tel Aviv, Israel. Zsquare primarily develops and manufactures disposable fiber-optic endoscopes characterized by their “ultra-thin,” “flexible,” and “high-resolution” features. Compared with traditional endoscopes, the fiber-optic endoscopes produced by the company can be used in a variety of complex clinical scenarios, with significantly improved usability and diagnostic efficacy. The “disposable” nature of these devices also eliminates the risk of patient infection associated with the reuse of endoscopes, substantially reducing healthcare costs and enhancing safety during medical procedures.

According to the Zsquare official website, the core of the Zsquare fiber endoscope is its unique 0.45mm square optical fiber, which features strong extensibility, enabling the endoscope to achieve “high resolution,” “3D functionality,” “extended depth of field,” and “expanded field of view.” It is reported that the unique combination of “single-use,” “high flexibility,” “miniature size,” and “high-resolution imaging” represents a significant breakthrough in endoscopic technology. This innovation allows endoscopes to deliver higher performance in a smaller form factor, thereby providing physicians with more convenient, efficient, and precise medical assistance.

Image source: Zsquare official website

“Zsquare’s endoscopes are set to change the game in the endoscopy industry. The introduction and implementation of the ‘disposable endoscope’ concept mark a significant breakthrough in the history of endoscopic technology, opening up new possibilities in the field of minimally invasive care. We believe that Zsquare will become a benchmark and leading enterprise in its sector,” said Eyal Agmoni, Chairman of Chartered Group.

Asaf Shahmoon, Co-founder of Zsquare, stated, “Following the completion of this funding round, we will continue to dedicate ourselves to technological research and development as always. We firmly believe that Zsquare will bring more beneficial innovations to the medical device industry and strive to achieve stronger market performance. We hope that every step forward taken by Zsquare will open up new possibilities for the healthcare sector and help alleviate patient suffering.”

Chartered Group, headquartered in Karnataka, India, was established in 1989. The firm employs over 350 staff across six regions worldwide, including Japan, Singapore, Germany, Thailand, Luxembourg, and Israel. Chartered Group operates three core business divisions: Banking & Investments, Credit, and Real Estate & Hospitality Development. The firm is dedicated to providing financial services to growing enterprises, including financing solutions, capital matching, and portfolio management.

(Compiled by Hu Xuan)