China Digest: SmartX nets $29m; Hillhouse leads funding in Brosmed

Beijing, China. Source: Li Yang/Unsplash

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. 

 

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.