Chinese Medical Device E-commerce Platform LyncMed Closes $20M Series B+1 Round

Chinese medical device e-commerce platform LyncMed announced on Thursday that it has raised US$20 million in a series B+1 round of financing led by VisionMax Health Fund (VHF).

LyncMed, fully known as Lyncmed Medical Technology (Beijing) Co Ltd, was founded in December 2015 to provide medical and healthcare products serving all segments of the health care market including hospitals and clinics, nursing homes and long-term care facilities, private medical practices, therapists, dental clinics and more.

The Beijing-based company integrates domestic medical supplies manufacturers and overseas terminal channels to deliver medical consumable products like medical gloves, surgical drapes, and gowns to countries in the Middle East and Europe.

"We are optimistic about the unique positioning and commercial value of LyncMed. In the context of US-China trade war and global medical cost control, the company focuses on the Belt and Road, and the global regions based on the advantages of China’s medical equipment supply ability," said Yang Haiyan, managing partner of VHF.

The company raised a total of over RMB110 million (US$15.9 million) in a series A+ round and a series B round led by Shanghai-based Yunqi Capital, and Chinese early-stage venture capital companies, Chunxiao Capital and Morningside Venture Capital, in April 2018.

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