China Digest: Wuxi Vision nabs $12.6m from Qiming, Ruijian; Shenma fundraise

Photo: REUTERS/JASON LEE

In the latest startup financing, Wuxi Vision Pro Ltd., an ophthalmic medical device maker, has secured RMB 80 million ($12.6 million) in a Series B round of financing from Qiming Venture Partners and Ruijian Capital. In another development, Shanghai-based Shenma Online Financial Information Service has raised RMB 300 million ($47.2 million) in a Series C funding round.

Wuxi Vision nabs $12.6m funding

Wuxi Vision Pro Ltd., a China-based ophthalmic medical device maker, on Friday announced raising RMB 80 million ($12.6 million) in a Series B round of financing from Qiming Venture Partners and Ruijian Capital.

Liao Xiugao, founder of Wuxi Vision Pro Ltd., said: “With modern science and technology drastically changing human behaviors, excessive use of the human eyes has accelerated the aging of eyes and developing other eye disease among young people. These factors promote the need of rapid development of ophthalmic medical products.”

Founded in 2010, Wuxi Vision has its own lens materials development and manufacturing facility in Irvine, California, USA. The company focuses on research and development, production, and marketing of intraocular lenses. Its Leiming brand aspheric intraocular lenses has obtained CFDA approval and CE certificate, Wuxi said in a statement.

Shenma Financial secures $47.2m funding

Shanghai-based financing solutions provider Shenma Online Financial Information Service has raised RMB 300 million ($47.2 million) in a Series C funding round jointly led by Tongbanjie Fintech Group, China Growth Capital, and Hina Group.

The round also saw participation from CreditEase New Finance Industry Investment Fund and ChinaEquity Group.

Founded in 2015, Shenma Financial provides financial services addressing the transportation needs of rural users. It provides short-term and mid-term credit products including install payment services allowing farmers to purchase electric scooters for use on the farm.

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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.