China Digest: EurekaBio, Vilory Advanced Materials snap funds

China Digest: EurekaBio, Vilory Advanced Materials snap funds

Photo by Eric Prouzet on Unsplash

Yuexiu Industrial Fund leads biotech firm EurekaBio’s extended Series B round, while Mixed Ownership Reform Fund leads 3D printing powder maker Vilory’s latest funding rounds.  

Yuexiu Industrial Fund leads EurekaBio’s extended Series B round

Biotech firm Eureka Biotechnology has secured 300 million yuan in an extended Series B financing round led by Yuexiu Industrial Fund, a subsidiary of the publicly-listed Guangzhou Yuexiu Capital Holdings Group. 

Eureka Biotechnology, which also goes by the name EurekaBio, has drawn capital from a slew of investors including Fortune Capital, Guangdong Technology Financial Group, Tasly Capital, and ABC Capital to participate in the round, according to a company release on Wednesday. Previous backers including Eight Roads Ventures have also re-upped. 

Founded in 2014, EurekaBio offers cell therapy manufacturing solutions to pharmaceutical and contract development and manufacturing organisations. The firm previously sealed its Series B funding round in June 2022 led by Eight Roads Ventures. 

Mixed Ownership Reform Fund leads Vilory’s $49m funding

3D printing powder maker Jiangsu Vilory Advanced Materials Technology has pocketed 350 million yuan ($48.6 million) in Series A and B funding rounds led by Mixed Ownership Reform Fund, a national fund that sets out to support mixed-ownership reforms of state-owned enterprises (SOEs).

The proceeds will be used to build a manufacturing facility, according to a company release on Wednesday. Xuzhou-based Vilory was established by state-owned Xuzhou Mining Group in 2015 and has grown into a firm with 15 production lines. The annual production output of 3D printing powder products stands at over 800 tonnes, according to its website.

Edited by: Joymitra Rai

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