Hygea Medical Technology Co., Ltd, a leading minimally invasive device maker for oncology indications based in Beijing, has reportedly raised “hundreds of millions” of renminbi in a Series D financing round. This significant funding round was led by In Capital, with contributions from Banyan Pacific Capital, Huajin Capital, Qiandao Investment Fund, and Meihong Fund, alongside existing investor Gaorong Capital. The proceeds will be used to accelerate market development, channel construction, research and development, product layout, and global development.
Use of Proceeds
The funds raised in this Series D round will be directed towards several key areas. Hygea Medtech plans to ramp up market development and channel construction to expand its reach and enhance its market position. Additionally, the company will invest in research and development to innovate and improve its product offerings. The proceeds will also support product layout and global development, positioning Hygea Medtech for international growth.
Company Background and Achievements
Founded in 2010, Hygea Medtech has made significant strides in the development of minimally invasive devices for oncology. The company boasts its in-house developed composite cold and hot ablation equipment, a fast-tracked medical device that was included in the National Reimbursement Drug List (NRDL) in 2021. This achievement highlights Hygea Medtech’s commitment to innovation and its ability to develop high-quality medical devices that meet the needs of patients and healthcare providers.-Fineline Info & Tech
