Capital bets on the 3D printing track "technology scarcity target" - Black Tech secures over 300 million yuan in Series C financing.

HeyGears, a leading 3D printing high-end light-curing dental solutions company, announced the completion of a Series C financing exceeding 300 million yuan. This round of financing was led by Junlian Capital and Dachen Capital, with additional investment from Gefei Asset and Guoke Investment. As a global leader in the dental 3D printing industry, the company has achieved profitability in the dental business. Its overseas revenue accounts for over 60% of total revenue, making it the top Chinese company in the North American dental 3D printing market share, with business growth exceeding 100% in the European market; the domestic market share in the dental technology end exceeds 60%, ranking first. In addition, as one of the few 3D printing companies in China with self-developed capabilities in optical curing "optics, hardware, software, materials," HeyGears has invested over 1 billion yuan in research and development over the 11 years since its establishment, owning 634 patents, with over 50% of them being invention patents. They have made breakthroughs in light-curing DLP and LCD technology, establishing a complete self-developed material system. On the optical front, HeyGears has developed a self-developed photometer and mastered core technology for splicing dual optical machines, achieving 0.02mm automatic calibration accuracy, leading the industry in high-precision molding. In the material field, they have developed a full range of self-developed materials, controlling elastic, resistant, foaming, and other types of high-performance material underlying technologies, achieving compatibility and cost "dual optimization," breaking through the problem of high-end material dependence. On the hardware side, they have achieved breakthroughs in high-end light-curing DLP and LCD equipment, promoting the localization of core components and reducing industrial chain risks. In terms of software, their 4K jitter and optical calibration algorithms are at the forefront of international standards, with almost all core algorithms developed independently, creating an independent software ecosystem. Currently, HeyGears' solutions have extended from dental medical to new productive fields such as advanced manufacturing, intelligent personalization, consumer electronics. Relying on self-developed and self-produced consumables, with a complete range of products and stable mass production performance, their consumables business revenue ratio has climbed to about 70%, bringing stable cash flow returns. Additionally, the company is committed to promoting the consumer-level distribution of high-end light-curing technology, hoping to make 3D printing a distributed productivity tool for the AI era, pushing it down to professional consumer-level scenarios. Some footwear studios are already using the second-generation LCD technology Reflex 2 series developed by HeyGears for small-batch production, with deliveries in 5 days and monthly production volumes of up to 2000 pairs. HeyGears plans to launch a "revolutionary" full-color, true 3D consumer/desktop product line in the third quarter of 2026, positioning it as a new generation desktop full-color creation tool, comparable to foreign products ranging from thousands to tens of thousands of yuan. Through vertical accumulation in light-curing technology, HeyGears aims to solve the pain points of "usability" and "high cost" in consumer-level distribution, seizing the global market of creators and small entrepreneurs. As a "rare technology target" in the 3D printing track, HeyGears has also received recognition from top investment institutions in the Series C round - Junlian Capital: HeyGears has faced challenges head-on, focusing on high-end light-curing 3D printing, using digital light knives to enhance precision, innovate in materials, and break through cost barriers, driving the penetration of light-curing technology in precision manufacturing scenarios. This is what new productive forces should do. We also believe that HeyGears' focus and persistence in this era will build a longer-term barrier. Dachen Capital: 3D printing is accelerating from a "prototype tool" to a "productivity tool". HeyGears has promoted a value leap in dental from single-material to multi-material, from intermediate products to finished products, and has benefited on the consumer end from cost reduction and AI empowerment, accelerating penetration. The company has long adhered to full-stack self-development, with deep core barriers, and revolutionary technologies such as multi-material and full-color 3D printing are about to erupt. Gefei Asset: HeyGears has demonstrated outstanding global offshore capabilities in the dental track, and its light curing products have also gained high recognition in the consumer market. In the future, with the company's continued investment in AI and control algorithm fields, full-color printing technology is expected to explode, achieving mutual promotion in both B and C ends. Guoke Investment: HeyGears' leading advantage comes from its development approach of deeply coupling equipment, materials, algorithms, and applications. The company has opened up a full-service chain for dental from design to production, covering top technical factories at home and abroad; on the consumer end, HeyGears has gradually expanded the upper limit of consumer-level 3D printing by applying industrial-grade technology in a simplified way. With the release of digitalization and full-color 3D printing in the dental field, the company has broad prospects. Regarding this round of financing and future development, HeyGears founder and CEO Gui Peiyan said: "HeyGears has always insisted on technological innovation, and through the entire industry chain's 'one-stop creation' capability, it has pushed the high-end light-curing technology to the level of FDM technology in terms of cost and usability. By promoting the industry from scale to customization, from samples to products, from enterprises to creators, HeyGears aims to empower the right of creation to all individuals with dreams, serving as an industrial dream factory, an accelerator for entrepreneurship, and a productivity tool for creators."