Jiuzhi Technology Announces Tens of Millions RMB in Angel Funding to Advance Smart Health Ring and Digital Therapeutics

Recently, Guangdong Jiuzhi Technology Co., Ltd. (hereinafter referred to as "Jiuzhi Technology") announced the completion of its angel financing round, raising tens of millions of RMB. The round was led by Vertex Ventures, under Singapore’s Temasek Holdings, with participation from Freshwave Fund, Professor Gao Bingqiang personally and his affiliated Brizan Ventures, as well as existing shareholder West Lake Innovation Fund.JIUZHI plans to primarily allocate the raised funds toward market development, while increasing investments in R&D, production, and FDA medical registration.

JIUZHI Technology was established in July 2021, co-founded by Professor Wang Guoxing, a professor at Shanghai Jiao Tong University and a Changjiang Scholar, along with interdisciplinary talents from the medical and artificial intelligence fields, with a focus on cutting-edge technological innovation. The company has R&D centers in Shenzhen and Zhongshan, Guangdong Province. Leveraging its core proprietary technologies, including low-power biosignal acquisition systems, biosensing, and algorithms, JIUZHI Technology is dedicated to developing more disruptive and innovative smart wearable devices, providing products and services that offer unique value to human health.

At the end of 2022, JIUZHI Technology launched its first innovative wearable device, the “RingConn Smart Ring.” The ring integrates core technologies independently developed in-house, including low-power biosignal acquisition, health algorithms, software development, and data mining. Leveraging the extensive experience of its product and engineering teams, the RingConn Smart Ring has achievedUltra-Low Power Consumption (7-Day x 24-Hour Battery Life)、Medical-Grade Algorithm Accuracy (NMPA Class II Certification)and user-favoriteMobile Appsuch features, setting a new standard for the smart ring industry.

The RingConn smart ring was launched on the INDIEGOGO crowdfunding platform from November 23, 2022, to January 12, 2023, achieving tremendous success.Cumulative sales exceeding $1 millionWith its outstanding performance, the project was honored with two awards on the Indiegogo crowdfunding platform: "2022 GOGO Awards Best New Project of the Year" and "2022 GOGO Awards Best Project in the Fashion & Wearables Category."

JIUZHI has successfully achieved mass production of the RingConn smart ring and has completed the shipment of all crowdfunding orders as scheduled. Additionally, the company has established a comprehensive direct-to-consumer (DTC) ecosystem. Its global brand website, www.ringconn.com, is now officially live and has garnered significant consumer interest, providing sales services to tech enthusiasts and health-conscious individuals worldwide.

According to a report by MarketsAndMarkets, the global wearable device market size is projected to grow from $116.1 billion in 2021 to $265.4 billion in 2026, maintaining a compound annual growth rate (CAGR) of 18%. This growth is primarily driven by the increasing demand for Internet of Things (IoT) devices and a surge in the need for smart wearables in medical applications. In the post-pandemic era, wearable devices have gained widespread adoption in the healthcare sector, with applications in health monitoring, disease management, fitness and activity tracking, rehabilitation assistance, and elderly care. These technologies provide individual users with more options for health management and monitoring, while simultaneously enhancing the efficiency and quality of medical services.

JIUZHI has comprehensively established an independent R&D system for intelligent wearable devices, achieving full-stack in-house development spanning from hardware to software, and from algorithms to assisted diagnostic and therapeutic solutions.In terms of hardware, JIUZHI Technology has successfully implemented photoplethysmography (PPG) acquisition technology featuring ultra-low power consumption, high integration, and superior signal quality, achieving the industry’s highest hardware performance standards. The company has established its supply chain and production systems, and has smoothly completed the production and delivery of over 10,000 units as scheduled. JIUZHI Technology will rapidly build core industrial competitiveness and accelerate the expansion of its industrial scale.

In terms of software, JIUZHI Technology has independently developed the RingConn APP, which balances user experience, functional performance, data security, and privacy compliance to continuously provide valuable product services to users. Furthermore, JIUZHI Technology has established a physiological metric computing system based on edge-cloud collaboration, enabling the deployment of machine learning algorithms under limited computational and storage resources, thereby ensuring the accuracy of physiological metric calculations and the feasibility of deploying complex algorithms.

In terms of algorithms, JIUZHI Technology has independently developed dozens of health-related algorithms, covering basic physiological indicators (such as heart rate, blood oxygen saturation, heart rate variability, and skin temperature), sleep algorithms (such as sleep detection, sleep staging, and sleep quality analysis), exercise metrics (such as step counting, exercise intensity recognition, and calorie calculation), and psychological stress analysis. This has formed a comprehensive health algorithm system that is continuously iterated and optimized.

In terms of auxiliary diagnostic and treatment solutions, JIUZHI has established clinical collaborations with multiple medical institutions to research the applications of smart wearable devices in medical fields such as sleep science, women's health, and cuffless blood pressure calculation. The relevant algorithms will be registered within the medical regulatory frameworks of the FDA and the NMPA.

Regarding this financing round,Dr. Wang Guoxing, Founder and Chairman of JIUZHI Technology and Professor at Shanghai Jiao Tong University“We are thrilled to have secured the support of top-tier investors, which will help us realize our company’s vision of delivering unique value for users’ physical and mental well-being. On the occasion of JIUZHI Technology’s second anniversary, we have commercialized our laboratory technology prototypes and garnered support from over 10,000 consumers worldwide through crowdfunding. This has enabled us to continuously optimize our products and enhance their overall competitiveness. The successful launch of our flagship product has allowed us to establish comprehensive R&D, supply chain, marketing, and integrated management systems, and we have fully initiated marketing efforts, external collaborations, and medical device registration processes. We will continue to pioneer research in smart wearable devices and assisted diagnostic and therapeutic solutions, consistently introducing new, high-quality products.”

Mr. Li Wei, Executive Partner of Vertex Ventures“Wearable health monitoring devices have long been a category of intense industry focus, boasting a large consumer base. However, it has been challenging for related products to simultaneously balance comfort and functionality. We are pleased to see JIUZHI’s innovations across multiple dimensions, including miniaturization, extended battery life, stylish design, and health metric monitoring, and we look forward to the company making further contributions to the field of health monitoring.”

Mr. Wang Chenzhi, Partner at Freshwave Fundstated: “The RingConn product represents an integration of comprehensive capabilities spanning hardware, software algorithms, and auxiliary diagnostic and therapeutic solutions. Under the leadership of Professor Wang, the team independently developed the first-generation product, which delivered an impressive initial performance by raising over $1 million in crowdfunding. The product continues to undergo iterative performance enhancements. We maintain a long-term optimistic outlook on the ring-form factor hardware, which offers a more unobtrusive and flexible user experience, thereby extending greater possibilities and room for innovation.”

Andrew, Partner at Brizan Ventures“The wearable technology industry is predicted to be worth over $265 billion by 2026, and the smart health ring market is expected to reach $747 million, growing at an annual rate of 25% from 2023 onward. RingConn is not a ‘me-too’ product but a ‘me-better’ one. It not only tracks a range of key health metrics—including sleep, blood oxygen levels, and physical activity—but also integrates fashion elements, appealing to design-conscious consumers. With a pipeline of applications based on medical diagnostic algorithms, RingConn can further differentiate itself from competitors and assist healthcare professionals in delivering critical care. Ultimately, wearables may be able to detect diseases before they develop.”

Mr. Zhang Fan, General Manager of West Lake Innovation Fundstated: “Building on years of technological accumulation at the Shanghai Jiao Tong University Microelectronics Laboratory, the company has conducted thorough market research and rapidly iterated its products based on market feedback. This proactive and enterprising entrepreneurial spirit is invaluable and lies at the core of transforming scientific and technological achievements into commercial applications. We believe that Jiuzhi Technology, by adhering to this principle, will surely become a great company.”