China-based TowardPi (Beijing) Medical Technology Ltd, a leading ophthalmology equipment R&D company, has reportedly secured RMB500 million (USD69 million) in a Series E financing round. The investors include SSF Zhongguancun Independent Innovation Special Fund, Beijing Robotics Industry Development Investment Fund, and Qiming Venture Partners. This funding, the largest primary market investment in China’s ophthalmic medical equipment sector, will be utilized to expand TowardPi’s product matrix and global market presence.
IPO Plans
Following this transaction, TowardPi is expected to pursue an initial public offering (IPO) on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). This move aims to further capitalize on its growth and strengthen its position in the global ophthalmic medical equipment market.
Company Background and Achievements
Founded in 2017, TowardPi Medical boasts a core technical team comprising graduates from Tsinghua University, with its core technology stemming from the university’s scientific and technological achievements. The company’s ophthalmic over-the-counter (OCT) product was the first of its kind approved in China, marking a significant milestone in domestic ophthalmic equipment innovation. In 2021, TowardPi initiated the development of an ophthalmic surgical microscope program, further expanding its product offerings.-Fineline Info & Tech
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