Scivita Medical Lands ￥400M Series B Funding

(VCBeat) Aug. 05, 2021 -- Following the completion of the Series A financing in April this year, with the acceleration of the development and commercialization of its endoscopy devices, Scivita Medical Technology Co., Ltd. ("Scivita Medical") today announced that it has received a Series B financing of nearly 400 million yuan.

The investors of the latest round include Hudson Bay Capital Management, Prime Capital and other new investment institutions. The existing investors GL Ventures, Lilly Asia Ventures, and Matrix Partners China continued to participate in this round. According to the startup, the funds raised will be used for the research and development of innovative products in endoscopy and related fields; production expansion; and domestic and foreign commercialization.

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.

Hudson Bay Capital Management is a multi-billion-dollar asset management firm operating in New York, Connecticut, Miami and London. With over 98 employees, it has been managing assets on behalf of outside investors since 2006. 

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.