Shanghai Feiwei Information Technology has raised 100 million yuan ($15 million) in a Series B round of financing co-led by Redpoint China Ventures and GP Capital, while Zeesan Biotech has garnered $10 million from Sinovation Ventures.
Shanghai Feiwei bags $15m in a Series B round
Big data services specialist Shanghai Feiwei Information Technology Co., Ltd has announced the completion of a 100 million yuan ($15 million) Series B round co-led by Redpoint China Ventures and GP Capital, a state-backed fund jointly launched by Shanghai International Group and Huatai Securities in 2009.
Returning investor Xiaomi Langcheng, an investment firm set up by Zijiang Holdings and Langcheng Capital, which focuses on intelligent manufacturing, made a follow-on investment in the round. The investor had exclusively invested “millions of US dollars” in Feiwei’s Series A round in 2009.
Proceeds from the funding round will be deployed for technology upgrades, market expansion, and brand management, the company said.
Shanghai-based Feiwei has been engaged in providing smart data services and information technology tools for agricultural businesses in rural areas. Since its inception in 2013, it has delivered database IT infrastructure to local authorities and enterprises.
Zeesan Biotech nets $10m from Sinovation Ventures
Biomedical company Zeesan Biotech announced on Monday that it has secured $10 million in a new round of financing from Sinovation Ventures.
Following the investment, Sinovation Ventures has become the majority shareholder of Zeesan Biotech, the investor said in a WeChat post.
Zeesan specialises in the R&D of molecular diagnostics. Its pipeline products include diagnostic reagents, automated solutions, and consumable materials that are used in hospitals, and universities. The company is based in Xiamen, and has offices in Beijing, Shanghai, Guangzhou, and New Jersey in the US.
Zeesan is also been backed by in-vitro diagnostic (IVD) firm Dirui, Sharewin Capital, Dingfeng Asset Management, and Xuankai Investment.
Sinovation Ventures is an investment firm established by Kai-Fu Lee that invests in Chinese high-tech startups
Sinovation Ventures has invested in the Invitro diagnostics-led startups including Accunome, Hugo Biotech, and Anngeen Technologies.