China VC Weekly: Medical Devices and Autoparts
Capsule-size endoscope tool maker Jifu Medical completes Series C round of financing
Jifu Medical, developer of capsule-size endoscope tools, has raised an undisclosed amount in the ballpark of several hundred million yuan in a Series C funding round.
The lead investor in the round was Greenwoods Investment, with Bojiang Capital spotted among co-investors.
Some of the funds raised will go toward further developing the company’s minimally invasive examination products for digestive organs. The money will also be used for marketing and to expand production of Jifu’s magnetic induction capsule endoscopes, according to Nikkei Asia.
About Jifu Medical
Founded in 2011, Jifu Medical is developing a magnetic induction capsule endoscope. The capsule-shaped device weighs 2.7 grams and can be removed from the patients body through magnetic induction after they swallow it.
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Smart cockpit developer Joy Next bags 720 million yuan in latest investment round
Smart cockpit and automobile systems developer Joy Next announced the completion of its latest financing round of approximately 720 million yuan, led by SDIC Investment.
Ningbo Gaofa, Fangguang Phase II Venture, Cathay Auto Fund, Baoteng Power and others also took part in the round.
The proceeds of this round of financing will be used for technology research and development and further expansion into the smart cockpit, smart car, smart cloud, smart driving and software value-added services markets.
About Joy Next
Joy Next is a subsidiary of Ningbo Joyson Electronics Co., Ltd., a supplier of auto parts. Joyson Electronics was established in 2004. It mainly develops and manufactures intelligent driving systems, automotive safety systems, new energy vehicle power management systems, car networking and high-end automotive functional parts assemblies.
Car supermarket chain Yi Auto raises tens of millions of USD
Operator of a Chinese national chain of new car supermarkets Yi Auto announced recently the completion of a new round of financing worth tens of millions of USD.
This round of financing was led by Sky9 Capital, with several existing shareholders including BlueRun Ventures, GGV Capital, and K2VC also participating in the round. Light Source Capital served as the exclusive financial advisor.
The company has reported that that this round of financing will be mainly used to improve the development of its supply chain system.
About Yi Auto
Founded in 2015, Yi Auto is a Chinese chain of new car supermarkets, providing one-stop car purchase services to consumers across the country.