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.