AI Medical Device Company "Silicon Based Bionics" Raises Over 800 Million Yuan in Three C-Round Tranches, Led by Source Code Capital

Shenzhen-based SIBIONICS (硅基仿生) has raised over 500 million RMB in its Series C++ round, co-led by CPE Yuanfeng and China Life Science and Technology Innovation Fund (under China Life Investment Company), with participation from Qianhai Equity Investment FOF, Jiangu Capital, C&D Emerging Investment, Jingming Capital, and returning shareholder Luxin Venture Capital. The proceeds will fund technology upgrades and market expansion for its CGM (continuous glucose monitoring) products, as well as new product line development.

Over the past year, SIBIONICS has completed three consecutive C-series rounds totaling over 800 million RMB. Returning investor Source Code Capital led the Series C round and increased its stake in the Series C+ round.

In terms of product portfolio, SIBIONICS has consistently focused on the R&D and commercialization of active implantable medical devices and medical AI. Its businesses include CGM, diabetic retinopathy screening software, artificial retina, and capsule endoscopy robots. On November 4, 2021, SIBIONICS' "GS1 SIBIONICS Dynamic Continuous Glucose Monitoring System" received approval from the National Medical Products Administration, becoming the first domestically produced CGM system that requires no fingerstick calibration. This remains the company's core business.

SIBIONICS' CGM Product Performance Leads the Industry

Through multiple technological innovations, SIBIONICS' "Dynamic CGM" product addresses key limitations of existing CGMs — rigid needles, short monitoring duration, required fingerstick calibration, and need for scanning — significantly improving accuracy, safety, comfort, and ease of use. The company has filed 37 invention patents related to these core technologies, 12 of which have been granted.

Measurement accuracy is a critical evaluation metric for CGM products. According to clinical trial results led by Shandong Provincial Hospital, with participation from Sun Yat-sen Memorial Hospital of Sun Yat-sen University and Shenzhen University General Hospital, SIBIONICS Dynamic CGM achieved a mean absolute relative difference (MARD) of 8.83% — one of the most important metrics for CGM manufacturers, with only a handful of companies achieving below 10%. Meanwhile, Consensus error grid analysis showed 99.9% in Zones A+B, placing the product's accuracy at the international frontier.

Second, the user experience is significantly upgraded. SIBIONICS Dynamic CGM features fingerstick-free calibration, direct smartphone connectivity, 14-day real-time monitoring, high/low glucose alerts, and remote data sharing.

Third, multi-scenario applicability. The device achieves IPX8 water resistance, supporting exercise, showering, swimming, and other daily activities. It also includes a miniature temperature sensor that detects ambient temperature changes in real time and adjusts algorithms accordingly, making glucose readings more accurate across all scenarios.

Scientist-Led Team

Driving Accessible Healthcare in China Through Foundational Innovation

Founded in 2015 and headquartered in Shenzhen, SIBIONICS is led by a core team of scientists from top domestic and international institutions including Caltech, University of Washington, Princeton University, Tsinghua University, and Peking University. The company now employs over 400 people, with R&D staff accounting for more than 50%. It has secured over 100 patents. In five years, SIBIONICS has built three foundational technology platforms to power its products: integrated circuit design (chip design), active implantable medical device development processes, and AI with medical big data.

Speaking about future plans, Han Mingsong, Executive Vice President of SIBIONICS, said that the fundamental purpose of CGM technology development is to improve product accuracy and reliability while meaningfully increasing glucose control rates among diabetic patients and reducing their daily burden. SIBIONICS will continue iterating its Dynamic CGM hardware, leverage its underlying AI capabilities, and combine these with its internet hospital's professional medical services team to provide comprehensive digital glucose management solutions for diabetic patients.

Han also noted that the sensor technologies accumulated during CGM development can extend beyond glucose monitoring to create a multi-parameter medical wearable platform, giving SIBIONICS the opportunity to serve a broader population of health-conscious consumers.

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