Chaomu Technology Secures Nearly CNY 100 Mn in Series A+ Funding Round

Healthcare Author: Yan Zhang Dec 07, 2022 04:10 PM (GMT+8)

The implantable nystagmus neuromuscular electrical stimulator of Chaomu Technology makes it possible to cure congenital nystagmus.

Eye / pupil

Chaomu Technology (Chinese: 超目科技), an eye disease treatment technology R&D platform, announced its completion of a Series A+ round of financing worth nearly CNY 100 million (USD 14.32 million). Innostar Capital under Fosun Health Capital (Chinese: 复健资本星未来创投基因) led this round, followed by Mingheng Industrial Investment (Chinese: 明恒产投) and Zhongzhi Zhonghe Technology Consulting Center (Chinese: 中智众合).

The funds raised will be used for the clinical application of the world's first nystagmus electrical stimulator, the R&D of a new generation of implantable medical chips, and accelerating the R&D of new products for myopia correction. 

Founded in 2018, Chaomu Technology is a high-tech medical device R&D enterprise dedicated to providing treatment solutions for complex human eye diseases and improving the quality of life of patients with eye diseases. The company has received tens of millions of CNY from several well-known institutions since its establishment, such as Shuimu Venture Capital (Chinese: 清华水木创投), Peking University Medical Industry Fund (Chinese: 北京大学科技成果转化基金), Zhonghui Health Industry Fund (Chinese: 中汇健康产业有限公司) and Dongsheng Expo Technology Development Co., Ltd. (Chinese: 东升科技园瑞昇投资).

Congenital nystagmus is called an "incurable disease" in the field of ophthalmology, which seriously affects the patient quality of life and burdens the family and society. The implantable nystagmus neuromuscular electrical stimulator of Chaomu Technology is the world's first and only product to cure congenital nystagmus.

And the company will actively explore the internationalization strategy, cooperating with internationally renowned R&D and registration institutions to jointly accelerate the FDA and CE registration process of domestic original ophthalmic medical devices.

Relevant companies include Mingche Biology (Chinese: 明澈生物), Purevision (Chinese: 朗目医疗) and Unsights Med (Chinese: 优视眼科).