China-based radiology imaging technology developer Nanovision Technology has recieved almost RMB500m ($78m) in series C funding from investors including automotive manufacturer SAIC Motor’s fund-of-funds, Hengxu Capital.
Northern Light Venture Capital, Proxima Ventures and Sherpa Healthcare Partners filled out the participants in the round.
Founded in 2014, Nanovision is developing an X-ray imaging system intended for use in the healthcare, security and industrial areas. It will use the money to advance clinical trials of its computed tomography scanning products, CompoundEye, for tumour treatments and orthopaedics and neurosurgical surgeries.
The company had raised $23m in a series B round led by existing backer Sherpa Healthcare Partners (then known as Sherpa Venture Capital) in late 2019 that took its overall funding to roughly $43m.
Legend Capital, a venture capital offshoot of conglomerate Legend Holdings, is an earlier shareholder in the company, as is Hillhouse Capital.
