Suzhou Foremed Legend Medical Technology Company, Ltd. (“Foremed Legend”) recently has announced the completion of pre-Series A+ funding.
Foremed Legend is a domestic high-end aesthetic medical device manufacturing company specializing in the research and development, manufacturing, and sales of optoelectronic aesthetic medical devices. Based on compliance and product strength, it is committed to becoming a leading manufacturer of high-end optoelectronic aesthetic medical devices worldwide, a provider of integrated intelligent solutions for diagnosis and treatment, and a pioneer of aesthetic medical data integration platforms.
According to Foremed Legend, it has independently developed multiple high-end aesthetic medical devices, including ForeShine mesotherapy instrument, picosecond laser machine, air pressure wave therapy device, long pulsed light, intense pulsed light, photoacoustic imaging skin analysis device, etc.
According to Allied Market Research, the global medical aesthetic devices market was valued at USD 13.5 billion in 2020, and is expected to reach USD 38.9 billion by 2030, growing at a CAGR of 10.7% from 2021 to 2030. This growth is driven by increase in demand for minimally invasive & noninvasive, increase in awareness for aesthetic appearance.
In addition to Foremed Legend, many companies are competing in the medical aesthetic devices market, such as Sisram Med (复锐医疗科技), Bestview Laser (南京佰福), Miracle Laser (奇致激光), Peninsula Med(半岛医疗) in China, Merz Aesthetics in Germany, Lumenis, Cynosure, Candela and Solta Medical in the United States, and Fotona in Slovenia.
Jing He, Partner of SEE Fund, stated: “The demand for domestic high-end aesthetic medical devices continues to grow, with relatively high technical barriers and overseas expansion potential. Foremed Legend has certain technological accumulation and continuous research and development capabilities, as well as comprehensive capabilities such as ecological construction and product compliance. We hope to promote the application of optoelectronic technology in the fields of medical and consumer and continue to empower Foremed Legend in the fields of optoelectronic technology.”
This round of financing for Foremed Legend was exclusively invested by SEE Fund (无限基金), with follow-on investment from Woyong Fund (沃永基金). This round of funds will mainly be used to increase research and development investment, expand production capacity, and accelerate commercialization.