China’s PackGene Biotech and AI chip startup Axera have raised funding.
PackGene Biotech raises funding
Chinese global AVV packaging supplier PackGene Biotech has completed its pre-C round of funding raising ‘tens of millions of US dollars’ from a slew of investors, per a company statement on Wednesday.
China Merchants Bank’s CMB International and Guangzhou Hi-tech Investment Group’s investment arm Guangzhou Juguan Investment joined the round as new investors.
Return backers Sequoia Capital China, Cathay Capital China, Kaitai Capital, Oriza Seed, and Decheng Capital re-upped in the current round. Investment bank Haoyue Capital served as the financial advisor.
Sequoia, Cathay, Oriza and Decheng had in October last year invested an undisclosed sum in the company’s Series B+ round.
The company will use the proceeds for its manufacturing facility, talent recruitment and production capacity.
PackGene, registered in Massachusetts, US, and based in Southeast China’s Guangzhou, operates as a contract development manufacturing organization (CDMO) aimed at developing recombinant adeno-associated virus (rAAV) led gene and cell therapy.
Axera closes fresh funding
Beijing-headquartered AI chip startup Axera has garnered ‘tens of millions of US dollars’ in its pre-A and Series A rounds of financing, the investee announced in a statement on Wednesday.
The pre-A round was led by Chinese global venture capital firm Qiming Venture Partners with participation from Legend Holdings’ Legend Star.
Beijing Heju Investment served as the lead investor for the Series A round. Glory Ventures and Zoo Capital joined the round along with existing investors Qiming, Legend, Cedarlake Capital.
Axera will invest the fresh funding for product R&D, market expansion, mass production and commercialisation.
Set up in 2019, Axera has been engaged in designing AI chips for computer vision applications that support smart services like facial recognition.