Beijing X-Magtech Technologies announced on June 4 the completion of its Series B financing valued at hundreds of millions of RMB. New investors joining this financing include Beijing Quantum Fund, Beijing Medicine & Healthcare Industry Fund, Jingguoguan Investment, Jingguosheng Investment and Cornerstone Venture Capital, while CAS Star Ventures, an existing stakeholder, increased its investment in the enterprise. The financing deal sets a new record as the biggest disclosed single-round fundraising in the domestic quantum magnetic field measurement industry. Capital raised from this round is earmarked for iterative development of core proprietary technologies, scaled mass production layout and full-scale industrialization of the company’s core product lines.
Focused on quantum precision magnetic measurement and quantum precision healthcare, X-Magtech devotes itself to delivering comprehensive systematic solutions for ultra-weak magnetic field testing with a world-leading core technology platform targeting ultra-low magnetic detection. Quantum technology has been widely recognized for promising application potential, and China has listed quantum industry as a key emerging future industry in the 15th Five-Year Plan. As one of the earliest quantum segments to realize commercial breakthroughs, quantum precision measurement has achieved mature commercial application channels across industrial inspection, high-end medical diagnosis and brain science research sectors.
The quantum weak magnetometry market boasts fierce competition from both global and domestic participants. International competitors cover Finland-based MEGIN and US enterprises including FieldLine, Genetesis and Quspin, while China’s market players consist of Kunmai Medical, Lingci Medical, Xinci Technology and MeersTong. Distinguished by self-developed atomic magnetometer core technology, X-Magtech has realized full independent control over underlying core technologies and key components. It has independently developed China’s domestically owned magnetocardiography equipment and complete magnetoencephalography system solutions for precision diagnosis of critical cardiovascular diseases and frontier brain science research.
Earlier recently, the company’s self-developed helium-free magnetoencephalography device finished installation at the First Medical Center of Chinese PLA General Hospital, marking the first such domestically built instrument deployed across the entire Chinese military healthcare system and kicking off an era of non-invasive precise diagnosis for military neurological treatment and brain science studies. Adopting homegrown quantum precision magnetic measurement technologies, this globally advanced helium-free device captures magnetic signals generated by cerebral nerve discharge in a non-invasive manner to generate functional brain imaging. Backed by a core management team composed of Fortune Global 500 senior executives, national high-level experts and top overseas returnee talents, the firm accumulates profound expertise spanning metrology, quantum physics, precision optics, IC design, automatic control and mechanical structural engineering.
