WeMed Snares ￥100M in Series C+ Funding Round

According to VCBeat, WeMed Medical Equipment Co.Ltd ("WeMed") recently announced the completion of a ￥100 million Series C+ round of financing exclusively from GL Ventures. In October 2019, WeMed raised tens of millions of yuan in a Series C round. Proceeds from the latest round will mainly be used for brand and product promotion, and the R&D of products in specific types.

WeMed is a Chinese enterprise specializing in interventional diagnosis and treatment solutions, with years of experience in the R&D and industrialization of digital angiography systems. Its vision is to create a professional brand in the field of interventional medicine. At the same time, through overseas mergers and acquisitions and other forms, WeMed is devoted to achieving the international strategic layout of product research and development, manufacturing and marketing.

At present, WeMed has finished the development and production of interventional products such as the digital subtraction angiography (DSA) system, mobile angiography system, surgical C-arms, as well as the R&D of innovative interventional surgical robots. It is a domestic company of interventional diagnosis and treatment equipment with a full series of interventional solutions.

WeMed's new generation of floor-type DSA, Aurora, has obtained the CE mark in early 2020 and recently obtained the NMPA certification, which breaks the long-term monopoly of international brands and fills the market gap of high-end DSA in China. At present, Aurora has been put into use in Beijing Tiantan Hospital, Zhengzhou Central Hospital, and other well-known hospitals, and has been widely recognized by clinicians.

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.