Chinese startups MolBreeding Biotech and LTZ Therapeutics have raised funding.
Dalton Venture re-ups in MolBreeding Biotech’s Series B round
MolBreeding Biotech, which is engaged in genotyping and breeding technology, has raised 250 million yuan ($34.5 million) in its Series B funding round.
The round was led by 1.8 Meters Agricultural Technology, an agritech startup founded by Hu Xiaoming who previously served as the CEO of Chinese fintech giant Ant Group, according to a company release on Tuesday.
Lake Bleu Capital, Suzhou Capital Group, and Suzhou International Development Venture Capital (SIDVC) joined the round. Existing investors Dalton Venture and Starlight Capital re-upped in the round
Previously, the firm sealed a strategic round in May securing capital from CD Capital, Dalton Venture, and Starlight Capital.
Founded in April 2017, the firm’s technology aims to improve detection accuracy, reduce testing costs, and enhance the efficiency of molecular breeding in plants and livestock. It has offices across Shijiazhuang in China, as well as the UK and the US.
Lapam Capital leads LTZ Therapeutics Series A round
Immunotherapy-focused biotech company LTZ Therapeutics has bagged $20 million in a Series A funding round led by Lapam Capital.
GL Ventures, which is affiliated with Hillhouse Capital Group, joined the round while existing backers including Qiming Venture Partners, K2 Venture Partners, and Shunwei Capital re-upped in the round.
Founded in 2022, the firm previously raised over $10 million in a Pre-A+ financing round led by Qiming Venture Partners in May 2023. The most recent round has brought the total capital raised by the firm to $50 million.
