China Digest: ForwardX Robotics, Shende Medical raise Series C funding

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ForwardX Robotics and Shende Medical have raised Series C round funding. 

ForwardX Robotics nets $30m in Series C 

Intelligent robot developer ForwardX Robotics has garnered nearly 200 million yuan ($30 million) in its Series C round of financing, it said in a statement on Tuesday. 

This investment brings the total funding raised by ForwardX to over $100 million.

The fresh round was led by Taikang Insurance Group, with participation from Starlight Capital and Qualcomm Ventures. 

ForwardX plans to invest the proceeds towards new products development, supply chain and global expansion. 

Set up in 2016, the developer specialises in the research and development of autonomous mobile robots (AMR) that cater to the logistics and manufacturing industries. The Beijing-based firm has offices in the US and Japan. 

Its top Chinese clients include smartphone giant Huawei, delivery services group SF Express, state-backed auto marker BAIC Group, JD Logistics, and Dongfeng Motor Corporation Passenger Vehicle. 

In March, ForwardX had secured 250 million yuan in its pre-Series C round led by CDH Investments’ CDH VGC. 

Shende Medical snags $15m in Series C

CITIC Securities has led a 100-million yuan ($15 million) Series C round funding in medical equipment producer Shende Medical, the investee announced. 

Shanghai Xuhui State-owned Assets Investment and Hunan Xingxiang Investment besides return investors such as Ningbo Rending Investment joined the round. 

In July, Shende had closed a similar-sized Series B funding from an array of investors like Shanghai Creation Investment, Jufeng S&T Venture Investment, TechWisdom Capital, and Solid Wood Investment. 

Armed with fresh funding, Shende aims to facilitate the development of pipeline products. 

Shende, established in 2013, designs and produces magnetic resonance-based high intensity focused ultrasound system (MR-PHIFU). Its products can benefit patients undergoing treatment for oncology, central nervous system disorders, breast disease, 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.