Global blockchain firms have invested tens of millions of RMB into Chinese distributed digital assets platform LendChain while South Korean investor SFC poured $15 million into biotech startup Aivita Biomedical.
China’s LendChain secures fresh funds from blockchain firms
LendChain, a distributed cryptocurrency financial services platform, has reportedly raised fresh investments from Chinese blockchain company GX Chain, Sydney-based blockchain firm Bitpei, Beijing-based investment fund PreAngle, Fission Capital, and others.
Financial details of the funding round were not disclosed but on its official WeChat account, GX Chain said it was in tens of millions of RMB and that LendChain intends to use the proceeds for product development and marketing.
Launched only last month, LendChain claims it has already attracted hundreds of customers and has facilitated loans worth about $234,000 in this month alone. The company provides financing, investment, insurance and other financial services for holders of cryptocurrency.
Kosdaq-listed SFC backs $15m series B in biotech startup Aivita
SFC Co Ltd, a Kosdaq-listed South Korean company, has invested $15 million in the private Series B financing round of Aivita Biomedical, a US-based biotech startup founded by pioneers in the stem cell industry.
In a statement, Irvine, California-based Aivita Biomedical said, it focuses on the advancement of commercial and clinical-stage programs, utilizing curative and regenerative medicines.
The financing will support Aivita’s commercial and clinical-stage programs, the company said. SFC, established in 1991, is a solar backsheet manufacturer that has made a number of investments in various industries recently. Last November, it acquired South Korea’s P2P lending service startup Villy for W11 billion ($9.8 million).