Beijing Meilian Tyco Biotechnology has secured 100 million yuan ($14 million) in a Series B round of financing led by Zero2IPO Asset Management while DPI has bagged 80 million yuan ($11 million) in a Series A round from China Merchants Venture, Sinovation Ventures, and Yunqi Capital.
Meilian snags $14m in Series B round
In-vitro diagnostic service provider Beijing Meilian Tyco Biotechnology Co Ltd, also known as Sophonix Co., Ltd, has secured 100 million yuan ($14 million) in a Series B round of financing led by Zero2IPO Group’s Zero2IPO Asset Management, according to a company announcement on Tuesday.
Delian Capital, Anlong Capital, GoldTech Capital and Mingshi Investment along with existing backer ETP joined the round. Yijun Capital served as financial advisor.
Meilian will use the proceeds to accelerate product research, develop sales and marketing networks, and enhance logistics storage capacity.
Meilian offers point-of-care-testing (POCT) services to hospitals and clinics. Headquartered in Beijing, Meilian has two R&D centres in Beijing and California.
Previously, Meilian closed three undisclosed rounds of funding from Zero2IPO’s Zero2IPO Ventures, Beijing Zhihe Kangdao Biotech, ETP, Jiahao Fund, Xin He Capital’s Guangde Chengxin Investment Management, among others.
Sinovation co-leads $11m Series A round in DPI
Beijing-based industrial internet solution developer DPI has bagged 80 million yuan ($11 million) in its Series A round of funding jointly led by state-owned China Merchants Group’s investment vehicle China Merchants Venture and Sinovation Ventures.
Return backer Yunqi Capital also participated in the round. Yunqi had exclusively made an unspecified equity investment in DPI’s previous round in November 2019.
DPI uses industrial internet technologies to develop products that are widely used across manufacturing, consumption, power, smart city, and finance industries.
Its strategic partners include IBM, Alibaba, Didi, State Grip, BAIC Motor, China Mobile, Faw-Volkswagen, among others.
DPI will allocate the proceeds to upgrade its internet products and business ecosystem.
Founded by Dr. Kai-Fu Lee in 2009, Sinovation Ventures is focused on investments in AI, big data, consumption, internet, healthcare, education and corporate innovation.