Hon Hai Technology Group, in its ongoing pursuit of advancing medical business capabilities, has entered the Series B financing extension of Israeli medical device company Neteera Technologies through its casing subsidiary, Foxconn Technology. Foxconn Technology’s Chief Investment Officer Hong Weiren anticipates robust support for large-scale production following this partnership.
Initially securing $13 million in Series B financing, led by German institution Aescuvest and involving real estate investment trust Omega Healthcare Investors, Neteera Technologies has now extended the funding with an additional $6.7 billion. Foxconn Technology, a subsidiary of Hon Hai Group, is a major contributor to this extended funding, intending to accelerate production speed and meet the rising market demand for Neteera’s medical platform. The funds will also facilitate talent recruitment to strengthen Neteera’s position in the non-contact medical monitoring market.
Hong Weiren emphasized Hongzhun’s commitment to biomedical development through strategic mergers, investments, OEM manufacturing, and product distribution. Hongzhun has secured OEM production orders for Class II medical materials and is actively pursuing market entry. Given the current progress in the first-tier supply chain of international medical material manufacturers, there is potential for significant developments within the next year.
Hon Hai’s investment in Neteera underscores its commitment to advancing its presence in the evolving landscape of medical technology, aligning with its broader strategy to diversify and strengthen its capabilities in various sectors.
