Vedeng Medical Closes ￥100M Series B Round, To Build An Ecosystem of the Whole Medical Device Industry Chain

According to VCBeat, Nanjing Vedeng Medical Co., Ltd. ("Vedeng Medical"), a leading B2B eCommerce platform of medical devices in China, has recently completed a Series B financing of 100 million led by Sinovation Ventures. CEC Capital acted as the exclusive financial adviser to Vedeng Medical in this round.

Proceeds from the latest round will be used to develop the digital platform of Vedeng Medical, improve localization services and the integration of upstream supply chain, promote logistics, warehousing, after-sales services, and marketing, expand the coverage of products, and explore in the specialized and overseas market, to finally build an online ecosystem of the whole industry chain for medical device providers.

Vedeng Medical has been engaged in the field of medical equipment in 2015. In view of the problems of the domestic circulation industry such as the traditional and inefficient mode of purchasing and selling, information asymmetry, undisclosed price, Vedeng Medical takes "To Make the Medical Device Purchase More Simple" as a long-standing mission.

By utilizing its proprietary B2B business model, Vedeng Medical builds a connection between the upstream manufacturers of medical equipment and the downstream dealers and medical service providers, to provide the most cost-effective products for the majority of private and primary medical institutions, therefore promote the medical service cost reduction quality improvement of the whole society.

Sinovation Ventures is a leading Chinese technology venture capital, started in 2009 by a team led by Dr. Kai-Fu Lee, with presences in Beijing, Shanghai, Nanjing, Guangzhou, and Shenzhen. It currently manages over $2B AUM between seven USD and RMB funds in total, and over 350 portfolio companies across the technology spectrum in China. The company invests in start-ups at the seed, Series A and Series B stages. 

Founded in 2000, CEC Capital (formerly known as China eCapital Corporation) is a leading investment bank in China with a core focus on the TMT, consumer and healthcare sectors. Headquartered in Beijing with offices in Shanghai, Los Angeles and San Francisco, CEC Capital provides M&A, capital raising, and asset management services to clients both in and outside of China.