Eastern Bell Capital has led Huimei’s Series D round, while CICC Capital has anchored SciGene’s strategic financing round. Separately, Boyu Capital has invested in iPotisEdge’s Series D round.
Eastern Bell Capital leads Huimei’s Series D round
Huimei Technology, which specialises in clinical decision support systems, has bagged 300 million yuan ($41.1 million) in a Series D financing round.
Shanghai-based Eastern Bell Capital led the financing round, according to an announcement on Tuesday. Eastern Bell Capital, the backer of major tech firms like Lalamove and XPeng, currently manages $4 billion in assets, including six RMB-denominated funds and two USD-denominated funds, according to its website.
Qiming Venture Partners, which previously backed the firm’s Series C financing round, also re-upped in the latest round while local investors including Runzhang Venture Capital and Suzhou Yihe joined the financing.
Founded in 2015, the Beijing-headquartered firm, as a subsidiary of Huimei Healthcare, has so far served 700 hospitals in China.
CICC Capital leads SciGene’s strategic financing round
Pig farming firm SciGene is set to bag 400 million yuan ($54.8 million) in a strategic financing round led by state-affiliated CICC Capital.
CICC Capital, a unit of Chinese investment bank CICC, plans to invest a total of 300 million yuan ($41.1 million); while state investor Anhui State-owned Capital Operation Holding Group will inject 100 million yuan ($13.7 million), according to regulatory filing on Wednesday.
While the transaction has received approval from the board, it is awaiting approval from its shareholders, according to an announcement by its financial advisor Firmawise Capital on Wednesday.
The strategic financing round is part of a proposed deal that targets to sell up to 30% stake worth 1.65 billion yuan ($226.1 million) of SciGene, per the regulatory filing.
Hefei-headquartered SciGene, which previously was the pig breeding department of Shenzhen-listed agriculture and animal husbandry firm Ningbo Tech-Bank, spun off from its parent firm in July 2022, as the pig farming firm geared up for an initial public offering in the A-share market.
Boyu Capital leads iPotisEdge’s Series D round
iPotisEdge, which is engaged in smart energy storage solutions, has snapped up 300 million yuan ($41.1 million) in a Series D financing round led by China-focused private equity firm Boyu Capital.
The round, which saw the participation of local investors including Bofu Fund, Red-Banyan Capital, Eelion Investments, and Jinsha Capital, will support the firm in R&D and global expansion, among others, according to a company announcement on Wednesday.
Founded in 2015, the Suzhou-headquartered firm specialises in smart vehicle batteries, residential and container energy storage systems.
The firm closed its Series C round in March, roping in investors including Hidden Hill Capital and Jinsha Capital.