China Digest: Kunya Medical nets $15m; Legend Capital backs Xbiome

Shanghai Kunya Medical Equipment has garnered 100 million yuan ($15 million) in its Series C round of financing led by Haier Biomedical, while Xbiome has secured ‘tens of millions of US dollars’ in its Series B+ round of financing co-led by Primavera Capital Group and Gaorong Capital. 

Kunya Medical nets $15m in Series C round

Medical equipment service provider Shanghai Kunya Medical Equipment Co., Ltd said on Friday that it has raised 100 million yuan ($15 million) in its Series C round led by Haier Biomedical, a healthcare based subsidiary of Chinese global home appliance giant Haier Group Corporation. 

The round was joined by new investor Dongfang Jiafu Investment, the arm of Shanghai-listed Zhejiang Orient Financial Holdings Group. Returning backer Legend Capital also participated in the funding round, according to a company statement on Friday.

Boutique investment bank Haoyue Capital facilitated the transaction. 

Founded in 2009, Kunya has been engaged in the medical equipment maintenance business. Kunya has also rolled out a digital medical platform to provide cloud-computing and big data-focused medical management. The company claims to have served over 600 hospitals.

Kunya earlier raised 37.50 million yuan ($5.7 million) from Legend Capital and others in 2018. Prior to that in the same year, Legend and Highlight Capital had together invested a similar amount for Kunya’s Series B round. 

Legend Capital backs Xbiome

AI-based microbiome drug-maker Xbiome Co., Ltd has secured ‘tens of millions of US dollars’ in its Series B+ round co-led by China-based global investment firm Primavera Capital Group and returning backer Gaorong Capital, per a company statement on Friday. 

Existing investors 5Y Capital (formerly Morningside Venture Capital) and Legend Capital also re-upped in the round. Biotechnology-focused Yayi Capital and Yimei Capital are the new investors in the round.  

Xbiome will deploy the proceeds for clinical trials and developing new pipelines.  

Headquartered in Shenzhen, Xbiome leverages AI technology and approaches to develop innovative gut microbiome drugs.

The three-year-old company is also backed by Alwin Capital, ZhenFund, Zhuhai Lihe Hongxin Investment Management, 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.