China Digest: Nutshell Therapeutics; Kolmostar in funding news

Source: Jan Antonin Kolar/Unsplash

Nutshell Therapeutics has garnered $20 million in a Series A round of funding led by Matrix Partners China. In a separate development, Kolmostar has secured about 100 million yuan ($16 million) in a Series A+ round led by CTC Capital.

Matrix Partners China leads funding in Nutshell Therapeutics

Shanghai-headquartered small molecule drugmaker Nutshell Therapeutics has completed raising $20 million in a Series A round led by Matrix Partners China, according to a statement on Tuesday.

The round also saw the participation of new investors namely Source Code Capital and Kunlun Fund.

A host of existing investors pumped in capital as well – these include Northern Light Venture Capital and Baidu’s investment arm Baidu Venture (BV).

The startup, set up in 2013, last raised capital late last year in its pre-Series A+ round from Optimas Capital and Tengye Ventures.

Previously, in 2019, Fosun Pharma had invested in its pre-Series A round.

Kolmostar nets nearly $16m

Kolmostar, which provides positioning technology such as GPS for internet-of-things (IoT) devices, secured approximately 100 million yuan ($16 million) in a Series A+ round led by CTC Capital.

Others who participated in the round are Optimas Capital, Frees Fund and Ab Initio Capital (ABI), a Boston-and Beijing -based venture capital firm, that invests in mid-to-late-stage companies in TMT and consumer goods.

With a team of professionals from Google and Apple Inc., Kolmostar’s offerings are widely used in smartphones, IoT devices, autonomous vehicles, ride-hailing services, and logistics, among others.

Kolmostar last raised $10 million in its Series A round from ABI, StarVC, and Eastern Bell Capital, among other investors in 2019. Prior to that, it raised its pre-Series A round in 2018 and seed round in 2016.

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.