China Digest: Bamboocloud bags $44m; Lilly Asia leads $25m funding in ImmuneOnco

Bamboocloud has garnered 300 million yuan ($44 million) in a Series C round of financing from Sequoia Capital China and Kunlun Fund, while ImmuneOnco Biopharma has secured $25 million in a Series B round led by Lilly Asia Ventures.

Bamboocloud bags $44m Series C round

Chinese identity and access management (IAM) platform Bamboocloud has garnered 300 million yuan ($44 million) in a Series C round of financing from Sequoia Capital China and Kunlun Fund, a Beijing-based private equity firm focused on TMT (technology, media, telecom) and new consumption, Bamboocloud posted on WeChat on Monday.

The company claims that it is the largest funding in the field of IAM.

Founded in 2009 in Shenzhen, Bamboocloud is active in IAM and cloud-driven application security. It develops accessible software for enterprises to ensure internet security. In addition, Bamboocloud accelerates its business ecosystem toward identity-as-a-service (IDaaS).

The company’s top clients include a clutch of state-owned organisations including National Development and Reform Commission, Sinopec Group, Sinopharm, and China Merchants Bank.

It’s early-stage investors consist of Oriental Fortune Capital, TopoScend Capital, Fortune Capital, and Technology Financial Group, among others.

Lilly Asia leads $25m Series B round in ImmuneOnco

ImmuneOnco Biopharma, an early-stage biopharmaceutical company that aims to develop immunotherapy for tumors, has pocketed $25 million in a Series B round of financing led by Chinese global biomedical venture capital firm Lilly Asia Ventures (LAV).

The round was joined by LYFE Capital, a Sino-US market-focused healthcare fund with $1.3 billion in assets under management. Returning investor Milestone also participated in the fresh funding.

ImmuneOnco will invest the proceeds to support clinical trials.

Located at Zhangjiang Hi-Tech Park in Shanghai, the five-year-old ImmuneOnco has been engaged in new generation cancer immunotherapy products. The flagship platform, Target-Activated NK Cell Therapy, enables to fight against stressed cells such as virally-infected cells and cancer cells.

Before the current round, ImmuneOnco had closed six rounds of fundraising from digital medical investment firm Lang Sheng Investment, Lapam Capital, and Z&H Investment, among others.

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.