Chinese VC firms IPV Capital, Tsing Capital lead $26m round in health-tech firm RayVio

Image from RayVio website

Chinese tech-focussed venture capitals IPV Capital and Tsing Capital have led a $26-million funding round in an advanced health and hygiene company RayVio Corp, according to a statement.

Existing investors including DCM Ventures, Capricorn Investment Group, Applied Ventures, Augment Ventures, Tolero Ventures and New Ground Ventures also contributed to the rounds.

RayVio has developed its unique ultraviolet LED technology, which can protect against germs in water, surfaces and air with flexible applications from automated surface and air disinfection to point-of-use water treatment.

“Consumers in too many countries lack control over major environmental health risks that lurk in everything from drinking water to hospital care,” said RayVio’s chief executive Dr. Robert C. Walker.

As existing cleaning solutions are often ineffective, it claims that more than 3.4 million people die every year from water-related diseases and one in 25 hospital patients have suffered from at least one healthcare-associated infection.

The funding will be used to expand its world-class manufacturing frontend and backend capacity and double its workforce, while continuing to deliver on its leading product performance roadmap through research and development. It is also expanding its global sales and marketing capabilities, application support and distribution channels.

“RayVio is poised to transform daily life in places like China, where residents often lack access to basic necessities like safe water and hospitals,” said Alex Banh of IPV Capital.

“RayVio’s proven technology and deep domain expertise are second to none,” said Don Ye, founder and managing partner of Tsing Capital. “The company is enabling a new ecosystem of consumer disinfection products that were never possible before.”

With the new funding, both Alex Banh and Don Ye will join the board of directors.

Also read:

SAIF targets $800m for China fund, to invest in tech, healthcare, cleantech

China: Weiying Technology raises $694m from Dalian Zeus Entertainment, others

China: Shanda Capital’s Chen Tianqiao leads $23m Series B round in TULIU.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.