Endoscopy products producer Scivita Medical Technology Co., Ltd has raised 400 million yuan ($62 million) in a Series B round of financing from new investors including New York-based Hudson Bay Capital and Chinese investment firm Prime Capital.
Existing investors – Lilly Asia Ventures (LAV), Hillhouse Capital’s venture unit GL Ventures, Matrix Partners China – re-upped in the round.
In April this year, Scivita Medical had closed a similar-sized Series A round funding from GL Ventures, LAV, Matrix, medical device firm Medtronic, Chengwei Capital and Shanghai Innochip Investment.
The company will use the proceeds to spruce up R&D and global expansion.
With headquarters in Suzhou and an overseas R&D centre in Japan, it has developed reusable endoscopes, single-use endoscopes, white light endoscopes, among others.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from August 4-5, 2021.