SmartX has garnered 200 million yuan ($29 million) in its Series B+ and C rounds from Vertex Ventures China, Tianjin Venture Capital and HUA Capital while Brosmed Medical has secured ‘tens of millions of US dollars’ in its Series C funding led by Hillhouse Capital.
SmartX nets $29m in Series B+ and C rounds
SmartX Inc., a provider of computer and data infrastructure, has garnered 200 million yuan ($29 million) in its Series B+ and C rounds, per a company statement.
Vertex Ventures China has exclusively led its Series B+ round, and its Series C round was jointly led by Tianjin Venture Capital and information and communications technology (ICT) driven HUA Capital with the participation of return backer F&G Venture.
SmartX will deploy the proceeds towards IT infrastructure innovation and application development.
Managed by parent company Beijing Zhiling Haina Technology, SmartX helps enterprises to transform the IT infrastructure by novel software-defined data center architectures. Its top clients include Bank of Communications, Haier, Evergrande Group, and BOE Technology Group.
Vertex Ventures China along with Samsung Ventures made an undisclosed strategic investment in SmartX in 2018. Previously, in 2017, F&G Venture together with MatrixPartners China, Lenovo Capital, and Gaorong Capital had collectively poured nearly 100 million yuan ($14 million) in its Series B round.
Hillhouse leads funding round in Brosmed
Dongguan-headquartered medical equipment supplier Brosmed Medical Co., Ltd has announced the completion of ‘tens of millions of US dollars’ Series C funding led by Hillhouse Capital.
The round was joined by new investors Cathay Capital and China Trade in Service Innovation Investment Fund, a 30 billion yuan ($4.3 billion) joint fund co-launched by Ministry of Finance, Ministry of Commerce and China Merchants Capital in 2018.
Returning backer Northern Light Venture Capital also participated in the fresh round, according to a statement. Northern Light Venture Capital had partnered with healthcare-focused bioVenture to inject capital in Brosmed’s Series B round funding in 2018.
With the new round of funding, Brosmed will continue to spruce up product R&D besides focusing on market expansion and capacity expansion.
Brosmed, which started operation in 2012, designs and manufactures medical devices and components for cardiovascular therapies. Its products are exported to more than 40 countries and regions.