IntoCare Medical Raises Up to RMB100 Million in Round D Funding, Doubling the Motorized Stapling Market

Founded in 2015, IntoCare is a high-tech company focused on manufacturing and marketing innovative surgical instruments. The company is committed to becoming one of the most innovative and dynamic surgical instrument companies in the China. Thanks to its precise and in-depth knowledge of clinical demands, IntoCare has constantly innovated in the development of surgical products. The name of the company “IntoCare” derives from “Insight and Innovation to Caring”.

IntoCare is the first company in the world to launch a full line of smart electric stapling solutions. Its technical advantages in the motorized stapling segment are believed to allow it to compete with Johnson & Johnson and Medtronic, the two titans of medical devices.

IntoCare’s founding team, R&D and technical teams have solid experience and extensive industry experience in well-known multinational companies. Since its inception in 2015, IntoCare has started building three major product lines and a seven-year product plan. Over the past few years, the company has achieved the milestones below:

  • In October 2018, IntoCare Medical has obtained ISO13485 certification;
  • In March 2020, all products of IntoCare powered stapling platform have received CE certificate;
  • In September 2020, IntoCare has received the Class III registration and production certificate for the motorized circular stapler from From China NMPA;
  • In May 2021, IntoCare has received Class III registration and production certificate for the Motorized Endoscopic Linear Cutter Stapler from NMPA.

The completion of these milestones marks the launch of the IntoCare powered stapling solution in China and globally. The solution enables intelligent interaction between different types of staplers, bringing general gastrointestinal, colorectal and thoracic surgery into a smart and powerful era. It also marks From China The stapling system has entered an era of intelligent electric control, contributing to the transformation to a smarter medical device industry.

Staplers, as surgical instruments, are widely used in surgical operations. According to the report “2021-2026 Staplers Industry Demand and Supply Survey and Investment Opportunities Strategic Research Report” of Beijing Puhua Youce Information Consulting Co., Ltd., From China the stapler market size has grown from 4.827 billion RMB in 2015 at 9.479 billion RMB in 2019, with a compound growth rate of 18%. It is predicted that From China the market demand for staplers will reach 19.058 billion RMB by 2024, with a compound growth rate of 15% (2019-2024).

IntoCare continues to conduct technological innovation and product research and development activities. From May 2021, IntoCare had filed for 277 patents, of which 117 were authorized patents. Almost 60% of patent applications relate to invention patents.

Thanks to its strong R&D capabilities and the recognition of various regulatory certifications, IntoCare’s products have been marketed and sold worldwide, covering major markets including Europe, the Middle East, Africa, North America, among others. The products have been highly recognized in the best hospitals of China and won several provincial tenders.

M / s. Zhang hui, CEO of IntoCare, said, “Since its inception, IntoCare has always been committed to helping physicians better serve patients China and globally with excellent and innovative products. Over the past six years, IntoCare, with its’ Made-inChina‘Products, overturned the world’s impression of Chinese surgical products. At present, the motorized stapling platform developed by the company has been at the forefront of the world and has been unanimously recognized by the industry. In the future, IntoCare will continue to uphold the spirit of “ demand insight ” and the beliefs of “ self-development and innovation ”, and will deliver more products with intelligence, safety, efficiency and effectiveness. to serve physicians and patients, and become a world leader. class business. “

Mr. William hu, Managing Partner of Qiming Venture Partners, said, “Qiming Venture Partners started investing in IntoCare at an early stage. We have witnessed IntoCare’s efforts and achievements in the motorized stapling segment. IntoCare Powered Stapling Platform now occupies a leading position in globally. We are excited to see that Chinese medical technology companies can create products that can compete with global titans in product design. We believe that motorized staplers will become an increasingly popular option for surgeons and will gradually gain the dominant position. IntoCare has established a structured R&D platform and marketing plan and has started its international expansion. We look forward to seeing more success with the company. ”

Mr. Li Huaijie, Oriza Senior Partner, said, “IntoCare’s founding team have a deep understanding of the motorized stapler. Product development is expected to be broad market and benefit patients both by China and globally. IntoCare’s know-how enables it to create innovative products. We firmly believe that the company has the potential to become a leader in this field. Oriza and her GP, Qiming Venture Partners, jointly invested in this funding round, which is another successful practice of Oriza’s concept of an ‘exceptional fund management team in the spirit of discovery, support and of camaraderie ”. It is also another support for the investment of the Oriza GP fund. I hope that this cooperation will further enrich the ecology of Oriza’s investments. We will leverage our capital and industrial resource advantages to provide ongoing support to IntoCare. “

About Qiming Venture Partners

Qiming Venture Partners was created in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston and San Francisco Bay Area. Currently, Qiming Venture Partners manages nine US dollars funds and six RMB funds, with total management assets of US $ 5.9 billion. Since its inception, it has focused on investing in exceptional early stage companies and growing industries such as TMT and healthcare. So far, Qiming Venture Partners has invested in more than 380 innovative fast growing companies, of which more than 130 are listed on New York Stock Exchange, Nasdaq, Hong Kong Stock Exchange, Taiwan OTC, Stock Exchange Shanghai and the Shenzhen Stock Exchange. . Over 40 companies have become industry-recognized unicorns and super unicorns.

About Oriza

Oriza is From China first professional market-oriented fund of funds management team, From China the largest venture capital investment funds, with a fund under management exceeding 25 billion RMB, and a scale of radiological assets which should exceed 150 billion RMB, participating in 124 funds from 71 fund management teams, covering more than 2,600 companies. Oriza is committed to playing the central role of FOFs in industrial development and resource aggregation, drawing on a deep understanding and judgment of the industry, and focusing on long-term development dividends. term of medicine and health, as well as the opportunities for industrial modernization and innovation. driven by intelligence and digitization. Oriza took the lead in establishing a comprehensive fund industry investment and fund management system, and created From China first real community of management teams. Oriza was awarded the “Top 10 Fund in the Chinese Market” and “From China Best Venture Capital Government Guidance Fund “issued by the China Association of Sponsors, Zero2IPO, China Investment Group, 21st Century Business Herald and other institutions for many years.”, “From China Best TOP10 Sponsor “,” Best FOF Management Institution (RMB) “and other awards.

About YuanBio Venture Capital

YuanBio Venture Capital is an investment institution that focuses on the early stage and growth of the medical and healthcare field, based in BIOBAY, and activities spanning across China and the world. At present, the total of RMB and USD funds under management is almost 6 billion RMB. They have made investments in more than 100 high-quality projects, mainly involving the creation of new drugs, innovative medical devices, diagnostics and precision medicine, as well as medical services. They have achieved substantial returns on investment, and many have been selected as one of the top 10 venture capital funds in From China medical and health sector, and the most active medical and health investment institution China. Through its concentration and abundant industrial resources, YuanBio Venture Capital is determined to become one of the most successful medical and pharmaceutical venture capital funds in China.

SOURCE Intocare Medical Technology

About Mitchel McMillan

Check Also

South African retailer Shoprite takes on the largest sustainable loan and the first green loan in the retail sector

South Africa’s Shoprite Group is expanding its core environmental programs as part of its sustainability …