3 Biopharma Companies Raise Over 1 Billion Yuan Combined | FreeS Family Funding News · October–November
Firmly bullish on the development of biomedical innovation in China
"FreeS Family Funding News" is a regular column that shares updates on portfolio companies from FreeS Fund. In addition to new investments, we also cover follow-on rounds for companies we've previously backed. Together, we witness innovative companies take each step from 0 to 1, from 1 to 10, and from 10 to 100.
This edition at a glance:
- In biotech and healthcare, three FreeS Fund angel investments — DeepCare, Singleron Biotechnologies, and Longwood Valley — announced new funding rounds: DeepCare's new investors include Ender Partners, Pinecone Investment, and Sogou founder Dr. Chuan Wang; Singleron Biotechnologies completed a nearly $100 million Series B; Longwood Valley raised RMB 540 million in its Series B, bringing its total funding to RMB 660 million in less than a year.
(Funding information in this roundup is limited to publicly disclosed rounds from October and November, sorted by announcement date.)
According to VB Data (动脉网), Beijing DeepCare Information Technology Co., Ltd. (DeepCare) completed a new funding round with investors including Ender Partners, Pinecone Investment, and Sogou founder Dr. Chuan Wang.
/ From the Investor /
Congratulations to DeepCare on this new milestone. As an angel-round investor, FreeS Fund has watched DeepCare navigate different market phases of AI-powered medical imaging. Initially, DeepCare applied AI and medical imaging to early tumor diagnosis. But because the founding team leaned more toward AI expertise, they pivoted relatively quickly to the more market-oriented dental field once early tumor diagnosis became a red ocean, even collaborating with Professor Deng Xuliang — deputy dean for research at Peking University School of Stomatology — on oral AI research projects.
DeepCare has entered a new blue ocean market. Dentistry in China is relatively marketized, and the sector is receptive to technologies that enhance professionalism and user experience. DeepCare rapidly found its footing and room to grow in AI-powered medical imaging, and has already deployed its technology across thousands of dental clinics. Having entered a fast growth track, the company has now attracted investment from strategic industry players. We look forward to seeing DeepCare make further progress in the commercialization and real-world application of AI-powered medical imaging.
/ Company Details /
DeepCare's products are built on proprietary deep learning algorithms that have been meticulously optimized for dental applications. These algorithms are trained on a self-built, large-scale multimodal and cross-regional dental imaging dataset annotated, cross-validated, and reviewed by experienced dental specialists. DeepCare collaborates with top research and commercial institutions including Peking University School of Stomatology, Pinecone Investment, and Straumann Group to explore the cutting edge of intelligent dental care. (See full coverage on VB Data: [Exclusive] DeepCare Closes New Funding Round with Ender Partners, Pinecone Investment, and Sogou Founder Chuan Wang)
Singleron Biotechnologies announced the completion of a nearly $100 million Series B round. This round was led by Lake Bleu Capital, with participation from FirstLight Capital, MSA Capital, and existing shareholders Sherpa Healthcare Partners, Lilly Asia Ventures (LAV), ARCH Venture Partners, CDG Capital, CDH Investments, SuperString Capital, 3w Global Investment, and SoftBank.
/ From the Investor /
Congratulations to Singleron on completing this new round. FreeS Fund was Singleron's angel-round investor. As early as around 2018, FreeS recognized the importance and growth potential of the single-cell赛道. Founder Nan Fang and his team were among the most impressive teams we encountered in this space at that time. Through solid research and technical accumulation, Singleron has successfully hit its planned milestones and become a leading player in single-cell technology. We look forward to seeing Singleron achieve even more ambitious goals in the future.
/ Company Details /
Guided by its ethos of "investigating things to extend knowledge, understanding the minute to grasp the whole," Singleron is dedicated to developing simple and reliable high-throughput single-cell omics technologies that can serve as next-generation tools for cellular and molecular pathology and blood testing. The company aims to bring high-precision, high-sensitivity, and high-resolution single-cell omics to precision medicine, drug development, and health management. Singleron will continue to enhance the performance of its high-throughput single-cell sequencing platform while reducing production costs, thereby achieving import substitution, strengthening the competitiveness of domestic enterprises, and supporting the long-term healthy development of China's biopharmaceutical industry in both research and clinical applications. (See full coverage on Singleron: Singleron Biotechnologies Completes Nearly $100 Million Series B)
According to VB Data, Longwood Valley completed a RMB 540 million Series B round co-led by CICC Capital's CICC Qide Fund, IDG Capital, and CDH VGC, with existing shareholders YuanSheng Ventures and Zhongguancun Development Group's Qihang Investment making additional follow-on investments.
/ From the Investor /
Congratulations to Longwood Valley on this new milestone. Founded in 2018 in the Longwood Medical Area near Harvard University and Silicon Valley where Stanford University is located, Longwood Valley had already engaged in deep discussions and planning with FreeS Fund — our angel-round investment — at its earliest stages.
Founder Yiling Zhang and his team demonstrated remarkable foresight. Their entry point and subsequent development trajectory have largely aligned with their initial industry predictions, reflecting their strong grasp of how AI, mechanical engineering, and other fields could be applied to orthopedics.
Moreover, the founder's execution capabilities are exceptional. Step by step, he achieved the set goals, making the leap from surgical navigation support to surgical robotics. We look forward to the Longwood Valley team continuing to bring more valuable innovative technologies and products to orthopedic patients.
/ Company Details /
Longwood Valley focuses on the R&D of orthopedic AI and digital systems, providing hospitals with intelligent surgical integrated solutions including AI-assisted diagnosis, personalized surgical planning, surgical robots, and postoperative evaluation.
To address the practical pain points and challenges of joint replacement surgery in China, Longwood Valley converts experts' extensive surgical experience into standardized algorithms, using AI and deep machine learning to develop the AIJOINT system — a comprehensive intelligent joint replacement solution covering preoperative diagnosis, surgical planning, intraoperative navigation and positioning, and postoperative follow-up.
Building on its advanced orthopedic AIJOINT system, the Longwood Valley team equipped this AI "brain" with a surgical robot system capable of precisely executing intelligent planning operations, launching the ROPA (Robotic Physician Assistant) AI joint replacement surgical robot. (See full coverage on VB Data: [Exclusive] Longwood Valley Completes RMB 540 Million Series B, with CICC Capital, IDG Capital, and CDH VGC Betting on Orthopedic AI and Surgical Robot Platform)
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