Intelligent Hearing-aid Maker, Eartech, Secures Large Pre-A Round Financing, Joined by Xiaomi Ventures

Intelligent Hearing-aid Maker, Eartech, Secures Large Pre-A Round Financing, Joined by Xiaomi Ventures

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( Source: Eartech)

Just Recently, Eartech, a clever listening devices maker, got 10s of countless yuan of Pre-A round funding, with financiers consisting of Qingsong Fund, Xiaomi Ventures, Shunwei Capital, and Huaxin Capital. Zhicheng Capital acted as funding expert.

Eartech is a medical gadget business devoted to the advancement of clever hearing screening and listening devices systems. The business was developed on July 21, 2017, with an authorized capital of 1,492,900 yuan. The business’s legal agent is Chen Fei.

Su Wei, establishing partner of Qingsong Fund, stated that the variety of hearing-impaired people in China is increasing, however the marketplace of hearing-aids is far lower than anticipated. The primary factor is that imported hearing-aids are pricey and count on offline shops for screening. Another type of affordable hearing-aid has bad user experience and a greater return rate.

Eartech, led by widely known specialists from Tsinghua University, the Research Study Institute of Tsinghua University in Shenzhen, and Tianjin University, is an advantage to numerous countless hearing-impaired individuals.

With the vision of “let enjoyed ones hear”, Eartech permits users to finish an online listening test by themselves through the business’s smart device app. Users can then acquire ideal gadgets both online and offline. At present, Eartech’s hearing-aids are cost 1,000 to 5,000 yuan.

According to the WHO’s 2021 World Hearing Report, more than 1.5 billion individuals around the world are experiencing to differing degrees hearing loss, of which about 430 million requirement treatment. In China alone, about 100 countless those individuals require expert treatment.

SEE LIKEWISE: Qingting FM Completes New Round of Funding, Led by COL, Followed by Xiaomi

The scale of China’s medical gadget market has actually kept consistent development over the last few years. According to iiMedia Research study information, the total market size of medical gadgets in China has actually increased from 255.6 billion yuan in 2014 to 530.4 billion yuan in 2018, with a typical yearly development rate of about 20%. It is approximated that its market size will go beyond 900 billion yuan by 2022.

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