Microfluidic chip maker Haoli Technology has raised 10 million yuan ($1.5 million) in an angel round led by Linear Capital, a Shanghai-based early-stage VC focused on data and frontier technology startups.
A microfluidic chip is a device that is used in the application of microfluidics, which enables fluids to go through different channels. Microfluidics has a broad range of applications such as for the synthesis of new materials, as well as in the development of laboratory-on-a-chip (LOC).
The Hangzhou-based firm plans to use the proceeds in the R&D of high throughput microfluidic systems, which can speed up the discovery and development process of new materials. It also plans to expand the application of microspheres in the life science sector.
Founded in March 2022 by a group of materials scientists, chemists, microbiologists, and engineers, the firm develops microfluidic chips for industrial applications like microsphere manufacturing.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing all prominent venture capital transactions in the Greater China region from March 27 – April 2, 2023.