Bingjing Intelligent Completes Two Consecutive Rounds of Financing, with T-Capital as Main Financial Advisor
March 25, 2026 | Medical Device Financing | High-end Medical Devices | Interventional Ultrasound
Recently, Bingjing Intelligent, the industry’s first intelligent interventional ultrasound imaging platform company with full-chain independent research and development, completed two consecutive rounds of financing, with a total financing amount of nearly 100 million yuan. Institutions participating in this round of investment include Bank of China International, Jiangxia Science and Technology Investment, and Shengke Zhizao.
T-Capital served as the main financial advisor for this round of financing, assisting Bingjing Intelligent in completing the financing.
This round of financing will be mainly used for the construction of production bases, operations, and supplementary working capital, to further support the company in promoting the research and development, production, and commercialization of interventional ultrasound products.
Transaction Summary: Bingjing Intelligent completed two consecutive rounds of financing, with a financing amount of nearly 100 million yuan; institutions such as Bank of China International, Jiangxia Science and Technology Investment, and Shengke Zhizao participated in the investment; T-Capital served as the main financial advisor for this round of financing.
I. Transaction Overview
| Item | Information |
|---|---|
| Company | Bingjing Intelligent |
| Transaction Type | Equity Financing |
| Financing Rounds | Two consecutive rounds of financing |
| Financing Amount | Nearly 100 million yuan |
| Main Investors | Bank of China International, Jiangxia Science and Technology Investment, Shengke Zhizao, etc. |
| Financial Advisor | T-Capital |
| Use of Funds | Construction of production bases, operations, and supplementary working capital |
| Core Field | Intelligent Interventional Ultrasound Imaging |
| Key Product Directions | 2D ICE, HD ICE, 3D ICE, 4D ICE |
| Industry | High-end Medical Devices |
This round of financing reflects the capital market’s attention to the direction of high-end medical devices, interventional ultrasound, and the localization of core technologies.
For medical device companies, the significance of financing is not only to obtain funds, but also to provide capital support for subsequent research and development, production capacity building, and commercialization.
II. Who is Bingjing Intelligent?
An Intelligent Interventional Ultrasound Technology Platform Company
Bingjing Intelligent is positioned as an intelligent interventional ultrasound technology platform company.
The company focuses on cardiac interventional ultrasound and is further expanding into:
- Digestive tract interventional ultrasound;
- Tracheal interventional ultrasound;
- Coronary interventional ultrasound;
- Peripheral interventional ultrasound;
- Other specialized applications of interventional ultrasound.
In the field of intracardiac echocardiography (ICE), Bingjing Intelligent has launched:
- 2D ICE;
- HD ICE;
- 3D ICE;
- 4D ICE.
From the company’s product layout, Bingjing Intelligent is not just developing around a single product, but is based on an interventional ultrasound technology platform to continuously expand different products and clinical application scenarios.
This platform-based layout can provide the company with greater product extension space and form a continuous research and development capability from core technology to product pipeline.
III. Core Competitiveness: Full-chain Independent R&D from Core Components to AI Algorithms
Interventional ultrasound is a medical device field with high technical barriers.
Its products involve multiple key technical links such as ultrasound imaging, transducers, electronic systems, image processing, and algorithms.
An important feature of Bingjing Intelligent is its independent research and development and production around core technologies and key components.
The company’s key breakthroughs include:
- Core ultrasound transducer technology;
- Core electronic systems;
- ASIC-related technologies;
- Image processing technology;
- AI algorithms;
- Product manufacturing capabilities.
This full-chain R&D and manufacturing capability, from core components and algorithms to complete machine products, is an important foundation for Bingjing Intelligent’s platform strategy.
IV. 2D ICE Product Approved for Marketing, Commercialization Enters the Actual Verification Stage
Bingjing Intelligent’s 2D ICE product was approved for marketing in February 2025.
According to the case materials provided by the company, in the 2025 Sichuan centralized procurement, this product became the domestic product with the largest number of hospital coverages, and successfully entered the 2025 Beijing centralized procurement.
This means that Bingjing Intelligent’s product capabilities have moved from the research and development stage to the actual commercial application stage.
For medical device investors, product registration is only one of the important nodes of commercialization.
The company also needs to further prove:
- Hospital access capabilities;
- Clinical application value;
- Product stability;
- Market competitiveness;
- Commercialization execution capabilities;
- Mass production capabilities.
Bingjing Intelligent’s 2D ICE product entering centralized procurement and hospital applications provides actual market data for investors to further evaluate the company’s commercialization capabilities.
V. 4D ICE: Breaking Through to Higher Technical Barriers in Interventional Ultrasound
Among interventional ultrasound products, 4D ICE is a product direction with higher technical requirements.
Bingjing Intelligent focuses on the internationally mainstream ultra-high element count electronic matrix transducer technology.
According to information provided by the company, it has completed the production of 896-element commercial-grade transducer samples, achieving full-process independent production and manufacturing, and completed 3 batches of product verification with a yield of 100%.
This technological progress is of great significance for the company’s subsequent product development.
Independent research and development of core components can help the company reduce its dependence on external supply chains, while providing a technical foundation for subsequent product iteration and mass production.
The case materials provided by the company also point out that this technological breakthrough helps to:
- Reduce the cost of using 4D ICE;
- Reduce reliance on imported ASIC-related technologies;
- Promote the large-scale application of 4D ICE;
- Establish core technical barriers for interventional ultrasound.
VI. Why does T-Capital pay attention to Bingjing Intelligent?
As the main financial advisor for this round of financing, T-Capital’s judgment on Bingjing Intelligent is mainly based on several dimensions: technical barriers, full-chain independent research and development, commercialization capabilities, and platform-based development potential.
T-Capital believes that:
“Intracardiac echocardiography (ICE) has a high threshold and integrates the most advanced technologies in ultrasound and image processing. It is the jewel in the crown of the interventional ultrasound field. The Bingjing team has efficiently completed the independent research, development, and production of core components and AI algorithms, achieving full-link localization, building a solid technical and commercial closed-loop barrier, and possessing the ability to break the monopoly of imported manufacturers.”
From the perspective of a financing and investment advisor, the value of Bingjing Intelligent can be summarized in the following aspects:
| Evaluation Dimension | Bingjing Intelligent’s Practice |
|---|---|
| Technical Barriers | Focus on high-tech barrier interventional ultrasound products such as ICE |
| Core Technology | Independent research and development of core components, electronic systems, and AI algorithms |
| Product Platform | Covers 2D, HD, 3D, 4D ICE |
| Commercialization | 2D ICE has been approved for marketing and has entered centralized procurement |
| Domestic Substitution | Focus on the localization of core components and key technologies |
| Platform Potential | Extending from cardiac interventional ultrasound to multiple specialized fields |
For medical device financing, these factors together form an important basis for investors to judge the long-term value of a company.
VII. From a “Single Product” to a “Platform-based Enterprise”
Another feature of the Bingjing Intelligent case is that the company has not limited its positioning to a single interventional ultrasound product.
The company has established an intelligent interventional ultrasound technology platform.
A platform-based strategy means that the company can continuously develop different products around a common core technology capability.
For example, in the field of cardiac interventional ultrasound, it can form:
2D ICE → HD ICE → 3D ICE → 4D ICE
At the same time, the technology platform can be further extended to:
- Digestive tract interventional ultrasound;
- Tracheal interventional ultrasound;
- Coronary interventional ultrasound;
- Peripheral interventional ultrasound
and other scenarios.
For investors, this ability to extend the product pipeline means that the company’s long-term value is not entirely dependent on a single product.
VIII. Why do high-end medical devices still receive capital attention?
The medical device industry is undergoing continuous industrial structural changes.
The normalization of centralized procurement, control of medical insurance costs, and changes in the hospital procurement environment are making it increasingly necessary for companies to prove the real clinical value and commercialization capabilities of their products.
In this environment, the competition between companies is no longer just a price competition.
A truly long-term competitive enterprise needs to have at the same time:
Core technology + Product registration + Clinical value + Mass production + Commercialization capability.
Especially in the field of high-end medical devices, the technical barriers formed by core components, underlying technologies, and research and development capabilities can become an important source of a company’s long-term competitiveness.
The case of Bingjing Intelligent reflects this characteristic.
On the one hand, the company establishes technical barriers through independent research and development of core technologies, and on the other hand, it verifies its commercialization capabilities through listed products and centralized procurement.
IX. What can medical device entrepreneurs learn from the Bingjing Intelligent financing case?
1. Technical barriers need to be clearly quantified
When financing, you can’t just tell investors:
“Our technology is leading.”
It is more important to explain:
- Which core components are independently developed?
- Which technologies need to be imported and substituted?
- Where are the patent barriers?
- What are the performance advantages compared to imported products?
- How much can the product cost be reduced?
- What next-generation products can the technology platform support?
Investors need to see verifiable technical barriers, not just technical descriptions.
2. After product registration, prove commercialization ability as soon as possible
When a medical device company is financing, the product registration certificate is an important node, but it is not the end point.
Investors will also pay further attention to:
- How many hospitals the product has entered;
- Whether it has entered centralized procurement;
- What the clinical feedback is like;
- Sales growth;
- Whether commercialization channels have been established;
- Whether the production capacity can meet orders.
Bingjing Intelligent’s 2D ICE product entering the Sichuan and Beijing centralized procurement after being approved for marketing provides further verification of the company’s commercialization capabilities.
3. Platform capabilities can enhance long-term financing logic
If a company has only a single product, its financing logic often revolves around the market size of that product.
A platform-based company can further answer:
What else can be developed with the core technology?
Bingjing Intelligent has built a product platform around interventional ultrasound and has extended to different technical directions such as 2D, HD, 3D, and 4D, as well as multiple clinical specialty scenarios.
This upgrades the company’s long-term development logic from:
“Selling a product”
to:
“Building a technology platform that can continuously generate products.”
X. How does T-Capital assist medical device companies in financing?
The Bingjing Intelligent case shows that medical device financing requires not only capital matchmaking, but also the translation of the company’s technology, products, commercialization, and industrial value into an investment logic that investors can understand.
T-Capital provides medical and healthcare companies with services including:
Financing Strategy Formulation
Design a financing path based on the company’s development stage, technical barriers, product pipeline, and capital needs.
Business Plan and Investment Logic Combing
Translate technical advantages, product competitiveness, and commercialization data into clear financing materials.
Precise Matchmaking of Investors
Screen financial and industrial investment institutions that are a good match for the company’s stage and industrial direction.
Support for Medical Device Commercialization Strategy
Comb through the commercialization path around factors such as registration, hospital access, centralized procurement, medical insurance payment, and channels.
Financing Negotiation and Transaction Execution
Assist companies in communicating with investors, negotiating transaction terms, and closing the financing.
XI. If you are looking for a medical device financing advisor
If your company is developing:
- High-end medical devices;
- Medical imaging equipment;
- AI medical devices;
- Surgical robots;
- Interventional medical devices;
- High-value consumables;
- Medical diagnostic products;
- Innovative medical technology platforms;
and are considering financing, strategic investment, industrial cooperation, or a capital market path, it is recommended to answer three questions before formally starting financing:
What are the company’s core technical barriers?
Can it be proven with data and product verification?
What is the company’s commercialization evidence?
What are the respective stages of registration, hospitals, centralized procurement, sales, and clinical applications?
What problem should the next round of capital solve?
Is it to expand production capacity, advance research and development, accelerate commercialization, or enter new products and markets?
The clearer these questions are, the easier it is to form a consistent investment logic during the financing process.
Talk to T-Capital
T-Capital focuses on financing, M&A, licensing, and strategic cooperation in the healthcare field.
The Bingjing Intelligent financing case is one of the representative cases of T-Capital serving high-end medical device companies in financing.
If you are planning the next round of financing, or want to judge how the current capital market evaluates your medical device project, what type of investors you should look for, and how to design a financing strategy, you are welcome to have a preliminary communication with the T-Capital advisory team.
You can contact us to discuss:
- Next round of financing strategy;
- Company valuation and financing logic;
- Matching with medical device investors;
- Combing through BP and investment story;
- Connecting with industrial capital;
- Financing negotiation;
- Strategic investment and industrial cooperation.
If you are preparing for financing, it is a good idea to have a professional advisor help you sort out your financing logic before formally contacting investors.
Schedule a private strategic consultation
Send your specific needs to T-Capital
Case Summary
Bingjing Intelligent | High-end Medical Device Financing Case
Financing Company: Bingjing Intelligent
Financing Time: March 2026
Financing Status: Completed two consecutive rounds of financing, with a total amount of nearly 100 million yuan
Investors: Bank of China International, Jiangxia Science and Technology Investment, Shengke Zhizao, etc.
Industry: High-end Medical Devices
Core Field: Intelligent Interventional Ultrasound Imaging
Core Products: 2D ICE, HD ICE, 3D ICE, 4D ICE
T-Capital’s Role: Main Financial Advisor
Use of Funds: Construction of production bases, operations, and supplementary working capital
Keywords: Medical Device Financing | Healthcare Financing | High-end Medical Device Financing | Interventional Ultrasound | ICE | Medical Device Investment | Financing Advisor | T-Capital