China Dealbook: Medical equipment maker Anrei, AI startup Shenxing Tech raise funds

Ultimus Asia
A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan

In a couple of deals in China, Anrei Medical has raised $25 million from PE firm C-Bridge Capital while Matrix Partners and Kinzon Capital have led a $14 million round in Shenxing Tech.

Anrei Medical receives $25m from PE firm C-Bridge Capital

Medical equipment maker Anrei Medical (Hangzhou) Co Ltd has received $25 million funding from private equity firm C-Bridge Capital.

As part of the deal, C-Bridge’s chief executive Fu Wei and other executives Ding Wei and Pan Yaogan will become Anrei’s board member and CEO respectively.

C-Bridge plans to use Anrui as a platform for consolidation, potentially buying up other Chinese companies to create a more scaled and efficient organization in the high-value medical consumables sector.

Founded in 2006, Anrei Medical develops disposable medical devices for use in a variety of minimally invasive procedures.

Last week, C-Bridge Capital led a $100 million round in Chinese drug startup Ascletis.

AI startup Shenxing Tech gets $14m from Matrix, Kinzon & others

Face recognition technologies provider Shenxing Tech has secured $14 million funding in a Series A round from Matrix Partners China and Kinzon Capital.

Zero2IPO Venture and other unnamed investors also took part in the round, according to a report in China Money Network.

It will use the funding for expanding its business in the public security field and providing hi-tech solutions to business clients.

Beijing-based artificial intelligence (AI) startup Shenxing was started in January 2016. The company provides its services to real estate, public security, schools, hospitals and other institutions. It counts Aviation Industry Corporation of China, PetroChina Company and China Railway Construction Co Ltd as its customers.

Kizon Capital is a part of Fosun Group. In November last year, the group had put in $20 million in Chinese image recognition start-up Megvii Technology.

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