IDG Capital-backed producer Xpect Vision Technology declared it has secured $21 million in a Series B+ round of financing led by state-owned CCB International’s sub-fund Beijing Jianxing Medical Health Investment .
Xpect will apportion the fresh proceeds to set up its manufacturing base as well as for novel devices research, it said in a statement.
Established in 2015, Xpect is into developing photon-counting X-ray imaging products for healthcare and industrial imaging sectors. Based in Shenzhen, Xpect has established R&D centres in Beijing and Shanghai.
According to its recent press release, Xpect has recently rolled out a photon-counting X-ray based 3D scanner to offer precision scanning services for industries.
IDG Capital partnered with state-owned Cas Investment and Volcanics Ventures infusing 40 million yuan ($5.8 million) in its Pre-B round of financing in 2018. Prior to it, in 2016, IDG along with CICC-Qianhai Development Fund Management had invested in its Series A round. The company’s backers also include Northern Light Venture Capital and Timesbole Private Equity.