Hong Kong-based chat management platform imBee has raised $5 million in a Series A round, while Tecon Pharmaceutical, a subsidiary of the Shenzhen-listed Tecon Biology, has secured $139 million to expand its manufacturing capabilities.
imBee raises $5m in a Series A round
Hong Kong-based chat management platform imBee has raised $5 million in a Series A round led by DCM Ventures, according to a press release.
ImBee, founded in 2019, has more than 150 clients across over 15 industries, including insurance, logistics and retail. The SaaS startup raised a pre-seed funding round last year, according to its LinkedIn page.
The funds will be used to “advance its platform offerings, go deeper into existing markets and expand its footprint in the Asia-Pacific region,” the statement said. DCM Ventures is a Silicon Valley-based venture capital firm with over $4 billion under management and investments in more than 400 technology companies across Asia and the US.
Tecon Pharmaceutical secures almost $139m
Tecon Pharmaceutical, a subsidiary of the Shenzhen-listed Tecon Biology, which manufactures and sells animal feeds and related products, has notched 1 billion yuan ($138.9 million) in a strategic round, according to a report by the Chinese online publication PEdaily.cn last Friday.
The round was participated by a slew of state-backed investors including Shenzhen Capital Group Company (SCGC), China Capital Management, Xinjiang Huyang Fund, and the Xinjiang Production and Construction Corps (XPCC), while VCs including Yuanfeng Capital, and Findowin Capital also joined, according to the report.
The firm plans to use the proceeds for product R&D, technology upgrading, M&A, as well as expanding its manufacturing capabilities, the report added.
Founded in March 2018, the Suzhou-registered firm produces veterinary drugs and vaccines.
In November 2021, the firm announced the construction of its smart manufacturing facility for novel veterinary vaccines. The facility, once completed, can bring over 2 billion yuan ($278 million) in sales volume, the firm claims.