China’s Panghu Luxury and Yeasen Biotechnology have secured fresh funding.
Luxury retail platform Panghu nets $50m in Series C
Second-hand luxury commodity services platform Panghu Luxury has raised $50 million in a Series C round of financing, per a company statement on Thursday.
The latest round was co-led by Fivestar Holdings’ investment arm Focustar Capital and ATM Capital, an early to growth stage venture fund rooted in Southeast Asia.
Return investors BeFor Capital and INCE Capital have re-upped in the round. Beijing-based investment bank Fanzhuo Capital served as the company’s financial advisor.
In May last year, Panghu had bagged $25 million in its Series B round jointly led by Fortune Capital and INCE Capital with participation from BeFor Capital.
Panghu’s early stage investors also include TusStar, Trinti Capital, 1989 Capital and Yizan Capital.
Yeasen raises $39m in Series B
Chinese biotech firm Yeasen Biotechnology (Shanghai) Co., Ltd has closed its Series B round of financing at 250 million yuan ($39 million) led by Legend Holdings’ investment subsidiary Legend Capital, per a company statement on Thursday.
Xinsheng Pharmaceutical and Shanghai Hoaxing Investment participated in the round as new investors, while return backers – Step Fund, Anhui Tanzhen Investment Management and Hetai Ventures – made follow-on investments.
The company will use the proceeds for enzyme products and for its manufacturing base.
Since its inception in 2014, Yeasen has rolled out more than 3,000 kinds of products such as enzymes, reagents, magnetic beads, and kits.