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Cashim, a medical equipment startup supported by the Chinese Academy of Sciences, has successfully secured 800 million yuan (approximately $115.2 million USD) in its initial funding round to fast-track the development and application of ion radiotherapy technology.
The funding was spearheaded by the Zhongguancun Independent Innovation Special Fund, under China’s National Social Security Fund, in partnership with Legend Capital, the investment branch of a major Chinese technology conglomerate. Beijing-based Cashim also welcomed participation from Xiamen ITG Group, a state-owned supply chain management firm.
With this fresh capital, Cashim aims to strengthen its technological leadership and expand its presence in global markets. The company’s goal is to develop a comprehensive, precise ion radiotherapy platform by integrating national medical resources with advanced digital and intelligent technologies.
Established in 2018, Cashim was initiated through Chinese Academy of Sciences Holdings, leveraging the scientific research capabilities of the Institute of Modern Physics, Chinese Academy of Sciences.
In 2019, Cashim introduced China’s first heavy ion medical machine, and by the following year, it was ready for clinical use. This achievement made China the fourth country worldwide—after the United States, Japan, and Germany—to have heavy ion cancer treatment technology.
Heavy ion therapy offers a more effective and safer alternative to traditional radiotherapy, capable of accurately targeting cancer cells with minimal impact on surrounding healthy tissues.
After six years of ongoing technological innovation and clinical testing, Cashim has developed a full suite of ion radiotherapy equipment, including systems for heavy ions, protons, and neutrons. The company currently operates four treatment units, serving over 3,500 patients across more than 50 different medical conditions.
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