Triastek has raised 330 million yuan ($51 million) in a Series B round of funding jointly led by Matrix Partners China and alternative asset manager CITIC Private Equity Funds Management. In a separate development, 1data Technologies has secured 200 million yuan ($31 million) in a Series A+ round of financing.
Triastek raises $51m from investors
Chinese 3D printing technology startup Triastek Inc on Tuesday announced that it has raised a corpus of 330 million yuan ($51 million) in a Series B round of funding jointly led by Matrix Partners China and alternative asset manager CITIC Private Equity Funds Management (CPE).
The round also saw the participation of Shanghai Technology Innovation Fund and its existing backer Yunqi Partners, per a company statement.
Yunqi had earlier led a nearly 100 million yuan ($16 million) funding in Triastek’s Series A+ round in November 2020.
Triastek will invest the new proceeds to expedite the R&D of the company’s 3D printed drugs, among others.
Triastek, established in 2015, is a pharmaceutical firm that utilizes melt extrusion deposition (MED) technology for 3D printed drugs.
In February 2021, Triastek’s first 3D printed drug product T19 got an approval from the US Food and Drug Administration (FDA) in terms of investigational new drug (IND) application.
Triastek is also backed by Tasly Holding Group, Volcanics Venture, Morningside Ventures, Dalton Venture, among others.
IDG backs 1data Technologies
1data Technologies, a provider of AI-based robotic process automation bots, has raised 200 million yuan ($31 million) in a Series A+ round of funding.
New investors namely IDG Capital, Sequoia Capital China and Eastern Bell Capital joined the round, besides existing investor SIG that made a follow-on investment in the company. Index Capital facilitated the transaction, per a statament.
The company plans to use the corpus for market expansion, among others.
With headquarters in Shanghai and branch offices in Beijing, Shenzhen and Singapore, 1data Technologies helps enterprises maximize the digitalization process. Its proprietary products are Cube Robot, Cube Data and Cube Cognition.