Shanghai Ruishi Health Technology Co., Ltd. (“Ruishi Technology”) recently has announced the completion of hundred million of CNY in Series A+ funding, Sinovation Ventures (创新工场) is the largest institutional investor.
Ruishi Technology was founded in 2017, it is a vision health management service provider for children and adolescents. The company uses cutting-edge technologies such as the internet of things, artificial intelligence, and big data to explore the underlying causes of myopia in children, providing practical and feasible prevention and control plans for pain points in children's vision health.
According to Ruishi Technology, the core product of the company, "Ruishi Far Image Light Screen," adopts three core technologies: analog panoramic high-definition imaging, digital spectral structure, and digital defocusing and blurry stimulation, integrating AR free form surface patent technology to achieve digitalization and personalization of defocusing. Children can use this device to simulate the effect of looking at the blackboard from a distance in the classroom while using it in the desk space. The close learning scene can be transformed into a long distance, avoiding short-term myopia caused by prolonged close eye contact.
According to Tebon, the overall myopia rate among Chinese teenagers exceeded 50% in 2020, ranking first in the world. The market size of myopia prevention and control may reach CNY 210 billion in 2030, with a compound annual growth rate of 13.7%. High myopia rate among children and adolescents and the prominent issue of myopia at a young age are the main reasons for the growth of the myopia prevention and control market.
In addition to Ruishi Technology, several companies are competing in the myopia prevention market, such as Eyebright Medical (爱博医疗)，Xingqi Pharmaceutical (兴齐眼药), Zhaoke Ophthalmology (兆科眼科) and Haohai Biological (昊海生科) in China, Santen Pharmaceutical and Euclid Vision in the United States, and Procornea in the Netherlands.
Jun Yao, founder of Ruishi Technology, stated: "the equipment industry will be a very important link in China's integrated circuit industry to achieve a leap from following to leading. Fuxuan Technology will strive to break through industry weaknesses through continuous technological research and system optimization design, firmly grasp market opportunities, and strive to build the company into a well-known brand of semiconductor equipment, making positive contributions to the development of domestic equipment.”
This round of financing for Ruishi Technology was exclusively invested by Sinovation Ventures (创新工场), with follow-on investments from Botanee (贝泰妮), Sinopharm-CICC (曜金资本), and BlueRun Ventures (蓝驰创投), Millennium Capital (万世资本) acted as the financial advisor. This round of financing funds will mainly be used to carry out national multicenter GCP clinical trials and registration certification for multiple products.