Raysight Closes ￥300M Series B Funding Round Led by Tencent

(VCBeat) Jan 11, 2021 -- Raysight Medical ("Raysight"), a smart medical company in the cardiovascular field, has raised nearly 300 million yuan in a Series B funding round, led by Tencent with participation from existing investor Matrix Partners China. Huaxing Capital was the exclusive financial adviser of this financing.

The latest round is a milestone, which will accelerate the large-scale clinical application of the smart medical industry. Proceeds from this round will be used for the large-scale commercialization and marketing of Raysight's products integrated into the "functional science + morphology" platform. Raysight will work with partners to apply the products in hospitals, help medical workers optimize the diagnosis and treatment process, and realize the non-invasive and accurate diagnosis of cardiovascular and cerebrovascular diseases. 

Besides, Raysight will perfect the cardiovascular and cerebrovascular closed-loop platform from large-scale screening, precision diagnosis, preoperative and intraoperative guidance, and postoperative chronic disease management. 

Raysight focuses on building a first-class professional team. Starting from clinical needs, Raysight is committed to the R&D and clinical application of AI, cloud computing and other technologies. Its first product is an innovative non-invasive coronary blood supply evaluation system -- Ruixin-FFR. 

With the shortest period, Raysight has completed the largest prospective multi-center clinical studies, showing excellent performance. At the same time, the company has built a business team to learn the admission mode of nearly 200 hospitals and their routine trials of the product. Under the leadership of Raysight, the blue ocean market worth tens of billions of dollars is rapidly emerging.

Ruixin-FFR fills the gaps in the diagnosis of cardiovascular and cerebrovascular diseases, solves the two major problems in the process of diagnosis and treatment, which has a broad market space and a great prospect. Currently, products on the market can only provide morphological information, while Raysight provides an integrated platform of "morphology + functional science", which has functional elevation and makes the results more comprehensive and accurate than morphological diagnosis based on images alone.

Founded in Shenzhen, China, in 1998, Tencent is an internet service portal offering value-added internet, mobile, telecom, and online advertising services. The company is well-known for its communications and social platforms Weixin and QQ.

Affiliated with Matrix Partners, a premier U.S. venture capital firm, Matrix Partners China was founded in 2008 to focus exclusively on investments in China. Since its inception in 1977, Matrix Partners has made hundreds of investments and played an active role in the development of many successful businesses.