Hanno Medical
汉诺医疗
Hanno Medical is a Shenzhen-based developer of extracorporeal membrane oxygenation (ECMO) systems, founded in 2021 or earlier with Dalton Venture as its earliest institutional backer from that year's Series A round . The company focuses on extracorporeal life support—its flagship Lifemotion® ECMO system received domestic approval in January 2023 as China's first indigenously developed ECMO device, with performance metrics matching international equivalents, followed by approvals for its artificial heart and lung components in July 2023 . By January 2025, Hanno became the first Chinese ECMO manufacturer to secure EU MDR certification for a fully self-developed system, gaining market access to Europe . The company had already achieved nine-figure RMB revenue by mid-2023, according to Dalton Venture , and its chairman is Liu Yang . Dalton Venture, which led the initial investment when Hanno had roughly 20 employees, has described the bet as a contrarian play on a niche "bottleneck" technology that many funds dismissed as too small .
AI-generated — may contain errors, please verify.
Coverage
From Early Innovation to Industry Recognition: A Map of Dalton Venture's Specialized and Innovative Portfolio Companies
"Specialized, refined, distinctive, and innovative" enterprises are increasingly becoming a key benchmark for assessing the growth quality of China's technology and innovation companies. It represents not only a company's technical strength, innovation capability, and growth potential in niche sectors, but also serves as external validation from the industrial system of the value of outstanding SMEs. Recently, **Xuanyu Medical**, a **Dalton Venture family company**, was once again named to **Shanghai's second batch of 2026 specialized, refined, distinctive, and innovative SMEs. This marks Xuanyu Medical's continued recognition following its 2023 selection.
Steady Steps Toward Renewal, Momentum Into Waves | DTX 2025 Annual Review
Those who walk deeper into the cycle always spot the next beam of light.
A Decade of Dalton, Igniting a New Chapter of Intelligence | Dalton Venture's 2025 Annual Partners Meeting and 10th Anniversary Forum Concludes Successfully
Together, Toward the Brilliance and Distant Horizons of the Next Decade
"The Made-in-China" Breakthrough Moment: DaYi Group and Hanno Medical Featured in Xinhua News Agency Report | TongNews
On August 27, Xinhua News Agency published a special report titled *"More and More 'Made in China': China's Medical Equipment Achieves New Breakthroughs"*, comprehensively presenting the leapfrog development of China's medical equipment industry since the 14th Five-Year Plan period. In the report, **TAICHI Medical Systems** and **Hanano Medical**, two portfolio companies of **Dowstone Capital**, were specifically named, with their product innovation achievements drawing attention. This reflects not only the breakthrough capabilities of the enterprises themselves, but also the acceleration of China's medical equipment industry toward self-reliance and comprehensive —
Steadfast Progress, Grounded in Action | Dalton Venture's 2024 Year in Review
Looking back at 2024, "adjustment" and "patience" became the defining keywords for venture capital. Yet on the long-distance track of life sciences and medtech, Dalton Venture kept moving forward with steady, deliberate strides. We navigated market fluctuations, caught glimpses of innovation, and helped companies take root and grow through the cycles — writing a new chapter of innovation-driven development with the power of capital.
VBData Exclusive | Dalton Venture: The Next Phase of Opportunities in Healthcare — "Technology + Safety" Is the Unavoidable Theme
In a turbulent environment, most investment firms have chosen to play it safe, pulling back on deal activity. Yet in 2023 — widely called a funding winter — Dalton Venture actually picked up its investment pace. How does the firm see 2024 shaping up? At the start of the new year, Sun Qi, founding and managing partner of Dalton Venture, sat down with VBData to share his outlook on healthcare trends for 2024 and his advice for founders.
"Inside Listed Companies - LEPU Medical Technology" and "Medical Device Overseas Expansion" Post-Investment Events Successfully Held!
Building a company all the way to an IPO is a long and arduous journey. For healthcare startups, the pursuit of technological breakthroughs runs parallel to challenges across nearly every dimension of the business — corporate strategy, commercial model, capital operations, and day-to-day management.
Dalton Venture's Sun Qi: Prioritize Hard-Tech Sectors That Serve National Needs, Prioritize Solving Supply Chain Security Issues | Dalton Insights
At the "2023 China Investment Annual Conference" summit, Sun Qi shared his perspectives and experience with fellow guests on the topic of *How Much Longer Is the Window for Domestic Substitution in Medical Devices?*
Spring Tide Surges, A Thousand Sails Compete — Dalton Venture Annual CEO Summit | Tong Learning Society
Gather friends, gather energy, gather spirit
Survival of the Fittest | Dalton Venture 2022 Annual Partners Meeting (Part 2)
Deep post-investment management has always been one of Dalton Venture's distinguishing strengths. How does that post-investment support ultimately translate into portfolio company growth?
The Essential GP Skillset Today: Reading Policy, Reading the Macro Trend, and Getting the Timing Right | Dalton Insight
China's past economic growth was bought with high-intensity input of production factors. The only way to break through going forward is to use technology to transform production relations and shift toward high-quality development.
The worse the market gets, the more GPs want LPs to have the guts to deploy capital.
GPs need to buckle down and get the work done — happily.
"6th Future Healthcare 100" Roundtable: Investing in Future Healthcare — How to Nurture World-Class Innovative Enterprises?
VBData's "6th Future Healthcare 100 Conference" took "China Story" as its theme. During the heavyweight panel discussion, titled *Investing in Future Healthcare: How to Support the Emergence of World-Class Innovative Companies*, six investment firms gathered to debate how China can continue producing world-class innovators and lead at the global frontier.
