China Digest: Triastek, 1data Technologies in funding news

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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.

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.