JOINTECH Snags ￥100M in Series B Financing

According to VCBeat, recently, JOINTECH Ltd. ("JOINTECH"), a technology company focusing on R&D and production of robot-assisted systems of orthopedic surgery, has completed the Series B funding round worth more than 100 million yuan by GL Ventures, Fosun Pharma and the existing investor Baidu Ventures. Haoyue Capital served as the exclusive financial adviser for the latest round. Proceeds will be used to promote the clinical application of JOINTECH's robots for joint replacement and new product development. 

At the beginning of 2020, JOINTECH raised tens of millions of yuan in the Series A financing from Baidu Ventures.

Founded in 2018, JOINTECH has quickly become a leading medical device company providing accurate joint replacement solutions in China by virtue of its experienced team and self-developed robotic-assisted surgical systems.

With many years of experience in surgical navigation and surgical robot R&D, the team of JOINTECH has not only developed innovative technologies but also closely met the needs of doctors in clinical scenarios, effectively solving the major problems of traditional artificial joint replacement surgery. In terms of products, the surgical robot with independent intellectual property rights of JOINTECH provides an overall solution for joint surgery, covering the whole "preoperative, intraoperative and postoperative" process.

As the first self-developed surgical robot of hip replacement surgery in China, JOINTECH's ARTHROBOT has not only realized the accurate positioning, grinding, and prosthetic installation of the acetabulum, but also covers the treatment of femoral lateral. The surgical error can be controlled within 1mm, while the installation angle deviation within 1°, which significantly improve the poor precision of hip replacement surgery and solve the pain points of doctors' long learning curve and radiation exposure.

GL Ventures was set up by private equity heavyweight Hillhouse Capital to invest in emerging startups in February 2020. GL Ventures focuses on four areas: biomedicine and medical devices, software services and initiatives in tech innovations, consumer internet and technology, and emerging consumer brands and services.

Fosun Pharma is a biopharmaceutical and healthcare industry. Fosun Pharma's operations strategically cover several important segments of the healthcare industry value-chain, including pharmaceutical manufacturing, distribution and retail.