Tech Financing in China this week – MedTech is the highlight

Our weekly column summarizes tech financing highlights in China.

Technology empowers many traditional industries with innovation for an enhanced service and product. Medical technology has developed along with the economy and society since it was launched, and has been reshaped many times thanks to new innovations. At this stage, the internet, big data and other advanced technology contribute to improve the efficiency of the medical industry.  Hua Medicine, a clinical-stage drug development company developing novel therapies for the treatment of Type 2 diabetes, closed a combined Series D & Series E financing of USD 117.4 million on March 27. Investors including  Blue Pool Capital Limited, GIC Private Limited, AVICT Global and so on. The capital is expected to address the underlying cause of Type 2 diabetes.

1. On March 26, Xinzitong, a HR and financial service provider that provides enterprises with personnel management services, social security payment support, as well as taxing and other services, secured a USD 8 million funding for Series A led by Xiaomi. The capital will be used to seek more enterprise customers.

2. On March 25, Jinfuzi received USD 16 million for Series C financing round led by Chunxiao Capital. Jinfuzi is an online wealth management platform that offers various asset allocation solutions to investors all over the world. The company plans to use the funding to improve its services.

3. On March 27, Sanjieke, an ed-tech startup that provides internet industry practitioners with online systematic practical courses, received millions of USD for Series A led by IDG. Sanjieke will use the capital to build a larger course system, as well as enlarge its subscription user base.

4. On March 26,  Zskuaixiao secured a USD 32 million funding for Series B financing round led by Meituan-Dianping, among others. Zskuaixiao is a B2B fast-moving consumer goods e-commerce platform that offers supply chain services to convenience stores. The funding will be used to expand to more cities in China.

5. On March 28, Mint Muse secured millions of USD funding from XimalayaFM for strategic financing. Mint Muse is a VR startup that offers compression technology that preserves high-quality spatial representation of sound, while achieving a low rate of information storage, transmission and live broadcasting. Mint Muse plans to further design more products to serve more partners in new fields.

6. On March 28, Yunxi, an enterprise digital service provider that offers digital service support to other industries, including automobile, real estate, FMCG, agriculture, and so on, received USD 16 million for Series A from YF Capital. The company plans to use the funding to serve more customers based on big data.

7. On March 28, Singlera grabbed a USD 60 million funding for Series A+ led by Shenzhen Green Pine Capital Partners. Singlera is a genetic sequencing startup that committed to the application of next generation sequencing to diagnose genetic diseases and disorders. The capital will be used to accelerate its R&D in genetic products.

8. On March 29, Xianshiji, a B2B e-commerce platform that provides community-based convenience stores with one-stop supply chain support, landed a USD 16 million funding for Series B led by IDG Capital and among others. The capital will be used to expand to more cities in China, as well as build more logistics centers.

(Top photo from 699pic.com)

Kaikai Shi
Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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