China-focused funds invest in US startup Cytek; Shopal secures $29.17m in Series B+

A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan

Cytek Biosciences, a US-based provider of instruments for researchers and clinicians, has secured an undisclosed sum in a round co-anchored by two China-focused funds while Chinese brand promotion platform Shopal raised Rmb200 million ($29.17 million) in Series B+ round.

Northern Light, 3E Bioventures co-lead Cytek’s Series C

China-focused venture capital firm Northern Light Venture Capital and Beijing-based healthcare-focused fund 3E Bioventures Capital have co-anchored the Series C funding round of Cytek Biosciences, a US-based manufacturer and supplier of flow cytometry products and services.

Flow cytometry is a technology that is used to analyse the physical and chemical characteristics of particles in a fluid and Cytek supplies this technology to researchers and clinicians all over the world.

The amount raised in the Series C funding round was not disclosed but Cytek said it will use the fresh funds to facilitate the expansion of its global footprint and to ramp up sales, marketing, operations, and global product offerings.

As part of the investment deal, Northern Light Venture Capital founder Feng Deng will join Cytek’s board of directors.

Chinese luxury brand accelerator Shopal raises $29.17m in Series B+

Youngor Group Company Limited, a Chinese textiles and clothing enterprise, has led the Rmb200 million ($29.17 million) Series B+ funding round in Shopal, a solution provider for online and offline retailers in China.

Shopal, founded in 2017, is considered in China as the fastest growing and most professional New Luxury Brand accelerator, backed by Cathay Capital and Lianjie Capital.

According to a China Money Network report, Shopal will use the proceeds of this round to promote its self-owned high-end brand Bonnie & Clyde and expand its new luxury brand landscape.

Founded by Lu Guo, Shopal has so far closed two funding rounds. It closed an undisclosed Series B financing round in May led by Cathay Capital and Hong Kong-based Lianjie Capital.

Also Read:

China Digest: Yao Capital puts $29.2m in Moviebook; UK’s Zencargo raises $4m

China Digest: Shunwei leads $23m round in Rokae; Highlight Capital to exit Bonti

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.