China Digest: Tencent leads $30m in Singleron; FITURE bags over $20m

FITURE

Singleron Biotechnologies has raised $30 million in a Series A2 round of funding led by Tencent, while fitness equipment provider FITURE has closed its Series A+ round of funding raising over $20 million co-led by GSR Ventures, NIO Capital and Z1 Capital.

Tencent leads $30m in Singleron

Chinese molecular diagnostics startup Singleron Biotechnologies has closed a $30 million Series A2 round of funding solely from existing investors, according to a company statement on Thursday.

It brings the total corpus raised by Singleron in the past four months to $70 million. In November 2020, it pocketed more than $10 million in a Series A+ round. Singleron had also garnered $30 million in a Series A funding led by Chinese biomedical venture capital firm Lilly Asia Ventures (LAV) in September.

The latest Series A2 round was led by Tencent and joined by LAV; SoftBank’s China-based arm SBCVC, Chinese alternative asset manager CDH Investments; and healthcare-focused investment firm Sherpa Healthcare Partners.  

Singleron will invest the proceeds to develop single-cell sequencing techniques and products, and also to ramp up its international presence.

With headquarters in Nanjing and offices in Suzhou, US, and Germany, Singleron uses single-cell analysis techniques to conduct clinical diagnosis, drug development, and health management. Its early-stage investors also include China Growth Capital, Arch Venture Partners, Frees Fund, and Oriza Seed.

FITURE nets over $20m in a Series A+ round

FITURE, a Chengdu-headquartered smart home fitness equipment provider, said on Thursday that it has secured its Series A+ round of funding raising over $20 million, jointly led by early-stage investor GSR Ventures, Chinese leading electronic vehicle NIO’s NIO Capital and Z1 Capital. 

The provider raised nearly $100 million over the past three months, per a company statement. FITURE had garnered $65 million in a Series A round of financing in September this year led by Tencent with participation from Sequoia Capital China, Bertelsmann Asia Investments (BAI), C Ventures, and others. 

The one-year-old FITURE operates line business in intelligent home fitness devices by offering online courses, real-time exercise data monitoring services, and interactive user community, among others. 

FITURE recently launched its maiden product, FITURE Mojing, which enables all-in-one fitness service. In August 2019, Sequoia Capital China poured $6 million in FITURE’s angel round.

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.