Synthetic biotech firm PhaBuilder has raised $52.9 million in a Series A+ round, while Thinkre New Material, which develops products for hydrogen fuel batteries, has raised $35.4 million led by Sequoia Capital China. In a separate deal cybersecurity firm Guan An Information has bagged $44.2 million.
PetroChina’s arm leads Series A+ round of PhaBuilder
Synthetic biotech firm PhaBuilder has raised 359 million yuan ($52.9 million) in a Series A+ round led by Shenzhen-listed CNPC Kunlun Capital, a subsidiary of China’s biggest oil group by assets PetroChina.
The round, joined by investors such as Shenzhen-listed Sino Biological, Lhasa Alec Investment Consulting, and China Agricultural Industry Development Fund, will help the firm construct two production plants in China, as well as fund its global expansion.
Founded in February 2021 by Professor Guoqiang Chen, director of the Center for Synthesis and Systems Biology at Tsinghua University, the Beijing-based firm uses biotechnology to transform halophilic microorganisms into a variety of materials such as PHA, ectoine and cadaverine that can be applied in the medical and pharmaceutical, beauty, fibre and textile industries.
Sequoia Capital China leads Thinkre New Material’s Series C round
Thinkre New Material, which develops proton exchange membrane (PEM) products for hydrogen fuel batteries, has secured 240 million yuan ($35.4 million) in a Series C round led by Sequoia Capital China.
BAIC Capital, FTXT, the hydrogen cell arm of China’s Great Wall Motor, Shanghai-listed Yutong Bus, Genertec Investment, Bridge Capital, and Yingding Investment joined the round. The company’s existing backers Roton Capital and Sihai New Material Investment Fund Management also re-upped in the latest round.
Founded in 2019, Suzhou-based Thinkre New Material snapped 100 million yuan in a Series B round in October 2021 from Levima Group, a subsidiary of Legend Holdings.
Guan An Information snaps $44m in a strategic round
Cybersecurity firm Guan An Information has bagged 300 million yuan ($44.2 million) in a strategic funding round led by Guoxin Investment and Guokai National Manufacturing Transformation and Upgrade Fund.
Zhuo Dai Capital also joined the round.
Founded in 2013, Guan An Information offers cybersecurity solutions that span 5G, AI, industrial internet security, and information security, with headquarters in some of China’s major cities including Shanghai, Beijing, Shenzhen, Chengdu, and Guangzhou.
The firm claims to be the only certified information security training base in China by the United Nations Institute for Training and Research (UNITAR) and the Shanghai International Training Center (CIFAL).