Mixed reality product developer Nreal has garnered $40 million in a Series B1 round of financing led by Beijing Kuaishou Technology, while InxMed Biotechnology (Nanjing) has secured 130 million yuan ($19 million) Series A+ round of financing co-led by China Growth Capital and Qirui Youkang Innovation Fund.
Nreal nabs $40m in a Series B1 round led by Kuaishou
Mixed reality product developer Nreal announced that it has garnered $40 million in a Series B1 round of financing led by Chinese leading video sharing company Beijing Kuaishou Technology.
It brings the total corpus raised by Nreal to over $70 million, according to a company statement on Friday.
The current round also saw the participation of a slew of leading investors including Sequoia Capital China, Hillhouse Capital, CICC Capital’s sub-fund CICC Zhongdian Zhongjin and GF Technology. Shanghai-based boutique venture capital firm Scheme Capital served as the financial advisor.
Set up in 2017 and managed by Hangzhou Tairuo Technology, Nreal has engaged in offering user-friendly mixed reality wearables such as glasses. Recently in August, Nreal has made a flagship product Nreal Light debut through a partnership with Korean leading telecom operator LG U+.
Nreal’s early-stage investors comprise Xiaomi Corporation’s Shunwei Capital, China Everbright Limited’s Everbright New Economy USD Fund, iQIYI, China Growth Capital, Hongtai Aplus, Terminus and Xinsong Ventures.
InxMed raises $19m in Series A+ round
Chinese clinical-stage biotech company InxMed Biotechnology (Nanjing) Co Ltd has secured 130 million yuan ($19 million) in its Series A+ round co-led by China Growth Capital and Innovation Venture’s sub-fund Qirui Youkang Innovation Fund, China Growth posted on WeChat on Friday.
Other investors who participated in the fresh round include healthcare-focused InnoMed Capital and Shanghai-based Grand Yangtze Capital.
InxMed, founded by Zaiqi Wang in 2018, uses biotechnology to develop innovative drugs for oncology treatments such as stomach and ovarian cancers. Headquartered in Nanjing, the firm has a presence in Beijing, Shanghai, the US, and Australia. MSD and Roche are among its top clients.
The proceeds will be used to accelerate clinical trials and drug pipeline researches, and it will also support the development of a digital platform.
“The fresh round of financing will firmly strengthen our R&D capacity and pipelines,” said chairman & CEO Wang in the statement.
InxMed had closed ‘tens of million US dollars’ in its Series A round of financing in late 2018.