Cofoe Closes on a New Round of Financing

According to 36Kr, Hunan Cofoe Medical Technology Development Co. LTD (“Cofoe”) has completed a new round of financing with the participation of Redhill Capital,  Fortune Venture Capital, Bofu Fund Management, Yanjin Shop Food Co., Ltd, and the return backer Dingxin Taihe. 

After this round of financing, the registered capital of Cofoe has increased from 88.28 million yuan to 100.696 million yuan. In 2017, Cofoe got 3 million yuan financing from Huaige Capital. 

Founded in 2009, Cofoe has 16 subsidiaries, 61 branches, covering R&D, manufacturing, sales, and services of medical devices.Cofoe develops and produces more than 600 categories of products such as medical consumables and dressings, and physical therapy and rehabilitation equipment. 

The company has more than 110 medical device licenses and 216 patents. Its product pipeline consists of 12,000 kinds of products for pregnant women, newborn children, and the elder, including wheelchair, glucometer, blood pressure monitor, oxygen generator, hearing AIDS and walking AIDS. It has a high market share in rehabilitation products. 

Cofoe provides products and services for 100,000 pharmacies and more than 10 million families in China. The products are sold to more than 20 countries and regions overseas. Its two R&D centers have been set up in Hangzhou and Changsha, and two factories in Changsha and Yueyang, both in Hunan province.

Headquartered in Guangzhou, Redhill Capital is a venture capital firm specializing in early-stage investment. It primarily invests in the medical industry. The company has nearly 20 years of experience and has invested in dozens of medical enterprises, many of which have become the leading enterprises in the industry.

Founded in April 2000, Fortune Capital is one of the earliest market-oriented venture capital firms in China. For the past 14 years, Fortune Capital focuses its investments on leading companies in four key sectors: TMT (Media oriented), Consumer Goods/Services, Modern Agriculture and Clean Tech.

Fortune Capital is ranked among the highest performing VC/PE firms in China. In addition to providing capital, Fortune Capital provides its investee companies with personalized value-added services.