China-based medical imaging system provider XpectVision Technology has closed a RMB150m ($21.5m) series B-plus round featuring tobacco and clothing producer Septwolves, China Money Network reported yesterday.
The round was led by CCB Healthcare Industry Fund, an investment vehicle for financial services group China Construction Bank, while Septwolves took part through corporate venturing unit Septwolves Ventures.
Founded in 2015, XpectVision designs and manufactures X-ray imaging equipment such as mammography systems for breast cancer diagnosis, photon-counting dental imaging devices and synchrotron radiation detectors.
Venture capital firm Northern Light Venture Capital led a funding round of undisclosed size for the company in 2015 before it added an undisclosed amount of series A funding from VC group IDG Capital and investment bank CICC-Qianhai Development Fund later the same year.
IDG Capital, Volcanics Venture and the Chinese Academy of Sciences’ CAS Investment Management fund provided a further $6.2m for XpectVision in 2018 that preceded $14.2m in series B funding from Shenzhen Timesbole Venture Capital in August 2019, according to China Money Network.
Image courtesy of XpectVision.
