Scivita Medical Lands ￥400M Series A Funding

(VCBeat) Apr. 26, 2021 -- Scivita Medical Technology Co., Ltd. ("Scivita Medical") today announced that it has secured nearly 400 million yuan in Series A financing, which has become one of the highest financing events in the field of endoscopy in China in recent years. This funding round was jointly led by GL Ventures and Lilly Asia Ventures, with contribution from Matrix Partners China, Medtronic, Chengwei Capital and Shanghai Innochip Investment. The successful completion of this round reflects the recognition and expectations of the capital market and industrial strategic partners for the future development of Scivita Medical in the field of endoscopes. Xiguangwei Medical will strive to build the world's leading platform for innovative products in the field of endoscopy and related fields.

Founded by Dr. Yi Zhang and Dr. Dong Chen, Scivita Medical is headquartered in Suzhou Industrial Park with R&D centers in Suzhou, China and Tokyo, Japan, focusing on the research and development of image processing and technology innovation of endoscope. Scivita Medical is a high-tech and innovative medical device R&D and manufacturing company in the fields of optical diagnosis and treatment, multidimensional imaging, high-performance materials and precision manufacturing.

Scivita Medical’s products covering both flexible and rigid endoscopy and has unique advantages in the research and commercialization of all cutting-edge technologies in the field of medical endoscopes. It has ultra-high-definition visualization technology (such as 4K UHD visualization), 3D visualization technology, special optical imaging technology (such as fluorescence imaging), ultra-fine endoscopic imaging technology, endoscopic consumables (single-use), etc.

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.

Lilly Asian Ventures makes venture capital investments in Asia for Eli Lilly and Company, a global innovation-driven pharmaceutical company. The company mainly invests in promising life science companies with strong management teams and innovative technology and/or business models. Its initial focus is primarily on opportunities in China, although it will take the investments in east and south Asia into account.