Chinese private equity and venture capital firm JD Capital has led a US$10 million investment in Shenzhen Nuokang Medical Equipment Co., a developer and manufacturer of continuous non-invasive blood pressure measurement equipment.
The company plans to use the proceeds on upgrading its core technology and market expansion.
"Shenzhen Nuokang has advanced technology and an experienced management team…a rare combination in the medical devices sector in China," says Wu Qinggong, managing director at JD Capital.
Founded in 2012, the Shenzhen-based start-up has developed a blood pressure measurement equipment that requires no sphygmomanometer to be wrapped around patients’ arms.
The equipment has already received certification by the China Food and Drug Administration (CFDA), says an announcement.
Shenzhen Nuokang says it plans to officially launch its product in the Chinese market soon, and enter the Europe and U.S. market next year.