Yi Chao Medical Announces ￥10M Series A Financing

(VCBeat) Feb. 1, 2021 -- Recently, the ultrasonic soft tissue coagulation and incision device of Shanghai Yi Chao Medical Devices Co., Ltd. ("Yi Chao Medical") has obtained the registration certificate, which is the first NMPA certification after a Series A financing of tens of millions in the second half of 2020. The product is the first in China, the world's second ultrasonic energy surgical system which has anti-adhesion prevention.

The latest round was led by CITIC Medical Fund, with participation from ECOVACS Robotics and Xingyun Capital. The funds are earmarked for the transformation and marketing of promotion clinical surgical products, and the R&D of multimodal mixed energy surgical products, real-time double-probe three-dimensional ultrasound platform and robots for minimally invasive intervention and diagnostics.

Founded in 2016, Yi Chao Medical is an innovative technology company focusing on the independent research, development, manufacturing, and sales of products for minimally invasive surgeries and minimally invasive intervention as well as natural orifice transluminal endoscopic surgeries. According to Shen Changzheng, co-founder of Yi Chao Medical, the company has developed a series of products around the minimally invasive field, designed innovative products based on clinical scenarios, and promoted innovative changes in surgical procedures. It is expected that 2-3 products will enter the special approval channel for innovative medical devices of the National Medical Products Administration by the end of 2021.

According to surgical procedures, Yi Chao Medical has developed three minimally invasive surgical products, including the "multimodal mixed energy system for fundamental surgeries + specialized surgical solution", the "double-probe three-dimensional ultrasound diagnostic and surgical robot + special high-value consumables", and the "ultrasonic endoscope + special high-value consumables". 

CITIC Medical Fund is CITIC's equity investment management platform focusing on the medical field and is committed to becoming a comprehensive medical fund with the strong ability of integration in the industry. Its team consists of industry professionals with many years of experience in multinational pharmaceutical companies and financial experts with rich experience in the financial field.

ECOVACS is at the forefront of innovation in smart home robotics, exploring new ways for robots to transform homeowners’ lives. ECOVACS’ more than 20 years of work in smart home robotics has seen the company transformed from a visionary startup into a global corporation with a mission of building world-class robots for home and industrial cleaning, air-purification, security and surveillance, and even in-store sales assistance for retailers. ECOVACS invests in industrial applications of robotics and AI.