Chinese gene synthesis firm Tsingke Biotechnology has bagged 400 million yuan ($57.2 million) in a Series B round led by Fortune Capital as well as Henan CICC Huirong Fund Management, a fund jointly set up by Henan Investment Group and CICC Capital.
The round was joined by Capitallink, Qingsong Fund, Zhongyuan Asset Management, and Jolmo Capital. The firm will use the proceeds to upgrade its technology platform as well as for team expansion, per the announcement.
Founded in 2017, Beijing-based Tsingke engages in the R&D of synthetic genomics and biosynthetic products. It offers life science research equipment, raw materials and reagents related to the field, as well as bio-manufacturing services. So far, the firm claims to count over 200,000 clients across the world.
In January, Tsingke raised 200 million yuan ($28.6 million) in a Series A round led by Shenzhen Investment Holding Capital; Softbank China Venture Capital (SBCVC), Sharewin Capital, and Yueyin Medical Fund also joined the round.
The biotech sector was the second-most invested sector in Q3 2022 across the Greater China region, which logged $1.8 billion in investment value, while the biotech deal count had slightly inched up from 67 in Q2 to 69 in Q3, according to proprietary data compiled by DealStreetAsia.