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Medical device maker Shanghai Reigncom Biotechnology and smart chips developer Corigine have secured fresh funding.
Matrix leads funding in Reigncom
Chinese medical device and services provider Shanghai Reigncom Biotechnology has raised ‘tens of millions of US dollars’ in a Series A round of financing led by Matrix Partners China, the investee said in a statement.
The round was joined by new investor Sinovation Ventures as well as Wosheng Investment. Gelu Capital served as the exclusive financial advisor.
The company will use the proceeds for product development, marketing and talent recruitment, it said.
Reigncom specialises in in-vitro diagnostic products and tools. With headquarters in Shanghai and an R&D centre in the US, Reigncom has produced pipeline products like IVD reagent kits and mass spectrometers.
Corigine closes new funding
Smart chips specialist Corigine, also known as Xinqiyuan, on Friday announced the completion of its pre-A3 round of financing raising ‘tens of millions of US dollars’.
A slew of new investors who joined the round are SIG, state-backed tech-innovation fund Spinnotec, semiconductor Amlogic and Yimei Capital.
Existing investor SBCVC, a China-based venture unit of Japanese SoftBank, re-upped in the round. SBCVC along with semiconductor-led investment CTC Capital had jointly led a similar-sized pre-A2 round funding in Corigine earlier in February this year.
CM Capital facilitated the transaction, according to a company statement.
Corigine plans to invest the proceeds to develop new generation chips and for market expansion and talent recruitment.
The intelligent chips developer primarily caters to the telecom industry and has been engaged in the areas of 5G network data centres and high-end electronic design automation.