Genomic information company NextCODE received USD 240M for Series B
NextCODE
Founder: Hannes Smarason
Founded in: 2013
Financing status: RMB 1.5 billion (USD 240 million) for Series B financing in 2017
Genomic information company, NextCODE, received USD 240M for Series B on September 8 to build a standard network of genomic data.
The field of genomics is getting more saturated all over the world. With the development of new technologies and business, genomic companies can process all information from patients through smart hardware to get sequence samples of DNA, and use it to test patients’ health and treatment. Today, we have a genomic information startup, NextCODE, that works with pharmaceutical companies to help them commercialize their drugs and store genomic data, as well as sell genomic test services to users in China.
NextCODE is a genomic information company that provides patients with gene sequencing services, and uses sequence data to improve health for people around the world. Additionally, it stores a massive collection of genomic data to form a standard network of genomic data globally, so that its services can be promoted all over the world.
Founded in 2013 in Wuxi, NextCODE was acquired by WuXi AppTec in 2015. It currently has operational centers all over the world in Shanghai, Cambridge, Massachusetts, and other countries. It has stored more than 300,000 DNA sequences in its genomic data collection.
This new financing round was led by Sequoia Capital, with Temasek, Yufeng Capital, and 3W Partners participating as investors. This Series B financing round amounted to USD 240 million, which is one of the biggest rounds ever raised by a genomics company. The capital will be used to optimize the company’s DNA sequencing test platform, and introduce artificial intelligence to its services to better use the data it has stored. Moreover, it will expand its commercial team for market expansion. It aims to build a global standard network of genomic data.
Video service brand Yitiao TV receives USD 40M for Series C
Yitiao TV
Founder: Xu Husheng
Founded in: 2014
Financing status: RMB 265 million (USD 40 million) for Series C financing in 2017
The video service brand, Yitiao TV, received USD 40 million for Series C in September to expand its content range.
Yitiao TV is a video service brand based on mobile internet and WeChat, providing users with short videos about daily life. It has also released its app for smart phones. Besides producing short videos to attract users and make revenue through advertising, it recommends relevant products to users that appear on its short videos, such as books, food, cosmetics, and so on.
Founded in 2014 in Shanghai, there are various video programs on Yitiao’s platform, including life, fashion, art, and so on. For example, “The Hidden World Shop”, “City Tide Off”, “Stylish Men”, “China Construction New Wave”, “Daren kitchen”, and “Beauty Talk”.
This new financing round was led by undisclosed investors, with a valuation at USD 350 million. Yitiao TV raised USD 14 million in Series B+ funding from China Media Capital (CMC), FeiMa Fund, and Chuangba in 2016. The capital will be used to produce more original video content, as well as facilitate its product sales to accomodate new technology.
(Top photo from 699pic.com)
