China Digest: GINFON nets over $30m; Sinopharm invests in Neowise

Logistics in a warehouse.

Suzhou GINFON Logistics System and Neowise Biotechnology have secured funding.

GINFON nets over $30m in Series D 

Logistics automation solutions provider Suzhou GINFON Logistics System Co., Ltd has snagged over 200 million yuan ($30 million) for its Series D round funding. 

The fresh round was jointly led by Shenzhen Qianhai FOF, a state-backed fund with 28.5 billion yuan ($4.4 billion) in capital commitment, as well as DHLT Investment. Existing investor Addor Capital re-upped in the round. 

Proceeds from the funding round will be used for product R&D and overseas market expansion.  

GINFON counts Chinese logistics-led Eastern Bell Capital as its largest external shareholder. Its services include logistics sorting, warehousing and intelligent factory automation. 

GINFON’s previous investors include Israeli Infinity’s China joint fund Infinity Capital, Suzhou International Development Venture Capital Holding, Oriza Prior, among others. 

Sinopharm invests in BV-backed Neowise

Baidu Venture-backed biotech startup Neowise Biotechnology has closed an undisclosed Series A round led by life science industry-focused TF Capital with participation from state-backed Sinopharm Capital.

Neowise has so far secured over 100 million yuan ($15 million) within a year since inception in September last year. Before the latest round, Neowise had completed its pre-Series A round from drug discovery platform BioMap in March this year, besides an angel round from Baidu Venture in 2020. 

Neowise will use the proceeds for the R&D of gene therapy treatments and the construction of a GMP facility. 

Co-founded by Dr. Songming Peng who worked at California Institute of Technology, Neowise has been focused on T-cell receptor-based gene therapies.

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.