Medical devices developer Insight Lifetech Co.Ltd.(Shenzhen) has garnered approximately 200 million yuan ($28 million) in a Series B+ round of financing led by SDIC, an investment arm of state-owned China SDIC Gaoxin Industrial Investment Corp., Ltd.
Other investors who participated in the funding round include Shenzhen-based Green Pine Capital Partners, healthcare-centered venture capital firm Efung Capital, and Tsinghua University’s incubator project Lotus Lake Capital. Existing investor Sequoia Capital China and Sherpa Venture Partners also joined the round, per an announcement on Tuesday.
Co-founded by Dr. Liang Song, InSight develops medical devices for precision diagnosis and therapy, which primarily cater to coronary heart disease. Currently, the company has set up four innovative pipelines to accelerate research. Its product on intravenous ultrasound (IVUS) has been listed on the innovative medical device project by the Chinese government. InSight has an R&D centre and a GMP facility.
Earlier, InSight closed a 100 million yuan ($14 million) in its Series B funding round from Sequoia Capital China and Sherpa Venture Partners in 2018. The firm has also raised capital from Decheng Capital, TigerYeah Capital and SiBionics previously.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on April 7, 2020.
Topping the list is AISpeech, an intelligent speech solutions provider, which has secured $58 million in its Series E round funding led by CTC Capital with the participation of BAIC Capital, and Goldstone Investment.
