Stroke Care has garnered ‘tens of millions of USD dollars’ in a Series C round of financing from Sherpa Healthcare Partners and Lyfe Capital, while UMU Technology has bagged 100 million yuan ($14 million) in a Series B round from Gaocheng Capital.
Fosun-backed Stroke Care closes Series C round funding
Shanghai-headquartered biotech firm Stroke Care has raised ‘tens of millions of USD dollars’ in a Series C round of financing from healthcare-based investment platforms Sherpa Healthcare Partners and Lyfe Capital.
The fresh round comes roughly two months after state-owned SDIC Unity Capital made an unspecified equity investment in Stroke Care.
Chinese boutique investment bank Das Capital served as the exclusive financial advisor, it said in a statement.
Set up in 2016, Stroke Care has pipeline products targeting cerebral stroke therapy.
The company will deploy the proceeds towards clinical trials for the five pipeline products.
Chinese conglomerate Fosun International’s Fosun Pharma had participated in Stroke Care’s angel and Series A round in 2018, respectively. Subsequently in 2019, HiDea, Changjiang Yangtze Capital and Share-win Capital had together poured 80 million yuan ($11 million) in its Series B round.
UMU nets $14m in Series B round
AI-driven learning platform UMU Technology Co., Ltd has raised 100 million yuan ($14 million) in a Series B round of financing from Gaocheng Capital, a private equity firm focused on corporate service and technology innovation sectors, per a company statement on Thursday.
The startup, co-founded by CEO Dongshuo Li in 2015, develops software-as-a-service (SaaS) based interactive learning platforms for enterprises. It caters to a slew of industries including education, medicine, finance, retail, manufacture, among others.
Before the current round, UMU had closed ‘millions of USD dollars’ in a pre-A round funding from TAL Education Group’s sub-fund in 2019. Previously, individual investor Gang Wang had participated in its angel and pre-A round.