GeneMind nets $64m and 10 more deal updates from Greater China

Shenzhen GeneMind Biosciences Co., Ltd, a health tech firm that delivers gene sequencing tools for clinical applications, announced on Wednesday that it has garnered 410 million yuan ($64 million) in a Series B+ round of financing.

New investors including biotech firm Sansure Biotech, Shenzhen-based investment player Cowin Capital and China-Europe Joint Fund, participated in the round. Returning backers such as Kexi Capital and Chishi Capital also made follow-on investments, the investee said in a WeChat post. 

The new corpus raised will be invested in marketing the gene sequencing platform and also for new product innovations. 

With its headquarter in Southeast Shenzhen, GeneMind is active in the R&D of DNA sequencers, an essential instrument of new-generation molecular diagnostic platforms.

Set up in 2012, it has launched single-molecule sequencing platform GenoCare and high-throughput sequencing platform GenoLab, providing full-stop solutions like medical instruments, reagents, chips, and software. 

In the statement, it cited statistics that China’s market for gene sequencing will reach over 30 billion yuan ($4.7 billion) by 2030. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on September 15, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
KeenonShanghai200 millionDSoftBank Vision Fund 2CICC Alpha, Prosperity7 VenturesRobotics & Drones
Neocrm Beijing70 million---Sales & Marketing Software
Shenzhen GeneMind BiosciencesShenzhen64 millionB+-Sansure Biotech, Cowin Capital, China-Union Joint Fund, Kexi Capital, Chishi CapitalBiotech
CanaanTekShanghai30 millionCChina Merchants SecuritiesCowin Capital, Yonghua Capital, SBCVCAI and Machine Learning
Pudu TechnologyShenzhen* 15 millionC2-Meituan, Shenzhen Investment Holdings, Sequoia Capital China Robotics & Drones
Extreme VisionShenzhen* 15 millionC2-Jingkong Group, Orchid Asia, Qingdao Guoxin Group, Qualcomm VenturesAI and Machine Learning
DTStackHangzhou15 millionC+-Kaitai Capital, CITIC Securities, Oriental Fortune Capital AI and Machine Learning
SkieerShenzhen15 millionBRedpoint China VenturesMiracle Plus, HuaYiVentures, Viewpoint Capital Big Data
Naixue Education Beijing8 millionA1Plum VenturesTanya investment, 58 Industry Fund, Zhongying VenturesEdTech
Sleep WhiteShanghai*1.5 million A-SIG N/A
Huihe HealthcareShanghai-B+-Sherpa Healthcare Partners HealthTech

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.5 million)” in the given example. 

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.