Scivita Medical Technology Co., Ltd. (Scivita Medical) today announced that it has raised nearly RMB0.4 Billion in Series A funding round, which has become one of the highest financing projects in the field of endoscope in China in recent years. The investment 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 the Series A funding round reflects the recognition of Scivita Medical in the field of endoscope and the expectation of its future development from the capital market and industrial strategic partners. Scivita Medical will strive to build the world's leading platform for innovative products in endoscope and related fields.Founded by Dr. ZHANG Yi and Dr. CHEN Dong, Scivita Medical is headquartered in Suzhou Industrial Park with R&D centers in Suzhou, China, and Tokyo, Japan, focusing on the image processing R&D and technology innovation of endoscope. Scivita Medical is a high-tech enterprise engaged in the field of optical diagnosis and treatment, multidimensional images development, high-performance materials research and precision manufacturing with minimally invasive medical treatment. Scivita Medical's product covers both flexible endoscopy 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 light visualization technology (such as fluorescence visualization), ultra-fine endoscopic visualization technology, single-use technology, etc.
According to Frost & Sullivan, it is estimated that by 2024, the overall scale of the global endoscope devices market will grow to USD26.98 billion, and the Chinese endoscope market size will reach RMB42.3 billion, becoming one of the fastest growing medical device sub-industries in the world. With the popularization of minimally invasive diagnosis and treatment technology worldwide, the endoscope industry has also entered a stage of rapid development.
The endoscope industry has higher technical barriers, involving multi-disciplinary and multi-fields, which integrates medicine, optics, materials, precision machinery, electronic engineering, software development and other disciplines, and has more technical content as compared to traditional mechanical manufacturing. At present, the endoscope equipment market presents an oligopolistic situation, with international brands occupying a large market share by relying on first-mover advantages and mature technological advantages. Scivita Medical has successfully achieved breakthroughs in key areas such as optical imaging and image processing of endoscopes, breaking down the technological monopoly of international brand products.
Scivita Medical accurately grasps the clinical needs, and combines innovative technologies in multi-disciplinary fields to develop excellent Chinese products that are recognized by clinical experts worldwide.World's first 2D to 3D " 3D Visualization System" developed by Scivita Medical obtained NMPA certification and CE certification in July 2018, and became the first domestic 3D Visualization System approved by the U.S.
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