Shiwei Yingxiang Raises ￥100 Million in Series B Funding Round

(VCBeat) Jan. 19, 2021 -- Recently, Shiwei Yingxiang (as "Micro Vision Imaging" in English) announced that it has raised ￥100 million in Series B funding round led by Shaantou Yuhua Investment, with participation from Flyfot Ventures and Lang Sheng Investment. According to this startup, the fresh round of funding will be used towards marketing and the R&D of new products.

In 2019, VG series swept-source OCTA self-developed by Shiwei Yingxiang, a leading domestic enterprise of high-end ophthalmic equipment, obtained the certificate and production license from the National Medical Products Administration (NMPA) of China and officially went on sale. 

Since 2019, the products have been tested in nearly 200 hospitals nationwide, including Beijing Tongren Hospital, Guangzhou Zhongshan Ophthalmic Center, Eye & ENT Hospital of Fudan University, Peking Union Medical College Hospital, Sichuan West China Hospital, and other benchmark hospitals, and have been recognized and recommended by many top ophthalmologists.

During the same period, the sales network of Shiwei Yingxiang basically covers the economically developed regions in China. In addition, the company is also actively applying for the FDA certification and CE marks of the EU. The funds of the latest round are earmarked for the expansion of domestic and overseas sales channels.

In the routine clinical examination, the swept-source OCTA of Shiwei Yingxiang can provide a higher detection rate and replace more invasive angiography, which can reduce the pain of patients and improve the efficiency of detection. The swept-source OCTA also enables direct observation and measure of the vitreous and choroid that cannot be clearly displayed by other imported products, which is of great significance for the research on the occurrence and development of the corresponding diseases.

Shiwei Yingxiang provides users with a platform based on deep learning, where experts and scholars can implement their own AI solutions. Among them, AI's function of recognizing and quantifying choroidal vessels has been widely used, which solves the problem that choroidal vessels cannot be quantified in the past.

Shiwei Yingxiang has started the R&D of high-end testing devices for anterior segment, cataract, and refractive diseases. In addition, Shiwei Yingxiang will also launch a variety of products on the basis of the existing high-end equipment to serve more patients.

Shaantou Yuhua Investment is a professional fund management company jointly initiated and established by Shaanxi Shantou Capital Management Co., Ltd. and other well-known institutions. Shaanxi Yuhua Advanced Manufacturing Industry Fund, the first fund initiated by Shaantou Yuhua Investment, has raised RMB405 million, mainly investing in areas such as intelligent manufacturing, new materials, high-end equipment and military-civilian integration.