iGeneTech Closes 50 Million Yuan Series B Round, Led by JC Capital

According to VCbeat, on August 28, 2019, iGeneTech announced that it had completed the B round financing of 50 million yuan. This round of financing was led by JC Capital, which focuses on the investment of innovation-driven technology enterprises, followed by Legend Star and other current investors.

This round of funds will mainly be used to promote the commercialization of the technology platform, accelerate the distribution of sales in the domestic market and expand the business.

Founded in 2014, iGeneTech is a high-tech enterprise driven by gene testing technology located in Beijing Zhongguancun Life Science Park. The company focuses on the R&D and innovation of high-throughput sequencing targeted capture technology and the design and production of gene testing products. 

Based on two sets of intellectual properties of liquid probe capture (TargetSeq ®) and multiplex PCR amplification capture (MultipSeq ®), iGeneTech formed a system of diversified products containing gene capture reagents and kits, capture sequencing solution, synthetic biology. It is committed to promoting the transformation and application of the target capture technology in multiple fields, such as precision medical, scientific research, health, agriculture, hygiene and forensic.

So far, iGeneTech has provided hundreds of sequencing enterprises, thousands of doctors and scientific research workers with high-quality, efficient and cost-intensive customized kits and genetic testing solutions.

This latest round brings iGeneTech’s total backing to more than 100 million yuan. It got support from PWC capital, Zhongguancun Development Group and other investment companies. As a rarely "made in China" brand in the NGS upstream field, iGeneTech has great reputation in the industry.

Founded in January 2014, JC Capital is a venture capital institution specialized in early and mid-term technology investment. It mainly invests in innovative technology enterprises and pays attention to the business model of them. At present, JC Capital totally manages 3 funds with a duration of 8+2 years. By the end of 2018, it had invested in more than 40 companies.

Legend Star helps entrepreneurs create great businesses through investments, CEO training sessions, and an entrepreneurs alliance.

Since 2008, Legend Star has incubated and invested in nearly 600 companies and is deeply integrated into the Chinese entrepreneurial ecosystem.

Legend Star is the independent early-stage investment arm of Legend Holdings. Legend Holdings is the parent company of Lenovo, Raycom Real Estate, Joyvio Agribusiness and a large range of fast-growing Chinese companies.