China Digest: Medical device maker Reigncom, chip developer Corigine raise money

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Medical device maker Shanghai Reigncom Biotechnology and smart chips developer Corigine have secured fresh funding.  

Matrix leads funding in Reigncom

Chinese medical device and services provider Shanghai Reigncom Biotechnology has raised ‘tens of millions of US dollars’ in a Series A round of financing led by Matrix Partners China, the investee said in a statement. 

The round was joined by new investor Sinovation Ventures as well as Wosheng Investment. Gelu Capital served as the exclusive financial advisor. 

The company will use the proceeds for product development, marketing and talent recruitment, it said. 

Reigncom specialises in in-vitro diagnostic products and tools. With headquarters in Shanghai and an R&D centre in the US, Reigncom has produced pipeline products like IVD reagent kits and mass spectrometers. 

Corigine closes new funding 

Smart chips specialist Corigine, also known as Xinqiyuan, on Friday announced the completion of its pre-A3 round of financing raising ‘tens of millions of US dollars’. 

A slew of new investors who joined the round are SIG, state-backed tech-innovation fund Spinnotec, semiconductor Amlogic and Yimei Capital. 

Existing investor SBCVC, a China-based venture unit of Japanese SoftBank, re-upped in the round. SBCVC along with semiconductor-led investment CTC Capital had jointly led a similar-sized pre-A2 round funding in Corigine earlier in February this year. 

CM Capital facilitated the transaction, according to a company statement. 

Corigine plans to invest the proceeds to develop new generation chips and for market expansion and talent recruitment. 

The intelligent chips developer primarily caters to the telecom industry and has been engaged in the areas of 5G network data centres and high-end electronic design automation.

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.