Bigfish Bio-tech Completes $1.4M Series A Financing, Launching Handheld Molecular POCT

According to 36Kr.com, molecular testing equipment company Hangzhou Bigfish Bio-tech Co., Ltd. ("Bigfish Bio-tech") has just received tens of million yuan (equal to US$ 1.4 million) in Series A round, led by CDF-Capital with participation from existing shareholder Longly Capital.

As a supplier of molecular testing equipment and reagents, Bigfish Bio-tech masters the POCT technology. Proceeds of this financing will be used for the research and development of new molecular testing products, marketing promotion, team expansion, certification of related equipment and reagents, and the construction of the supply chain.

Bigfish Bio-tech has completed the angel round financing of nearly 10 million yuan in 2018 and received tens of million yuan in Pre- Series A financing in May this year.

The company's core product is a kind of molecular POCT that can be used at the grass-roots level. Traditional genetic testing not only takes a few large machines together to complete the experiment, but also need professional laboratory environment and skilled professional operators, while the technology of Bigfish Bio-tech can put these large instruments and laboratory condensed into a cup size testing equipment, and greatly reduces the complexity of operation.

At present, the prototype of molecular POCT has been made, and a lot of trials and optimization have been done. It is planned to be formally mass-produced by the end of this year. Xie Lianyi, the founder of Bigfish Bio-tech, said, "We have received a lot of cooperation and intention orders from the clients in the public security, pet industry, food safety institutions. Next year, we will first promote and popularize our new product in the pet industry on a large scale, and at the same time expand the domestic and overseas markets."

Established in August 2007, CDF-Capital is an equity investment institution focusing on small and medium-sized science and innovation enterprises, which has been recognized and funded by national ministries (NDRC, Ministry of Finance, Ministry of Science and Technology, etc.), local government guidance funds and other investors. CDF-Capital works with investors and entrepreneurs to jointly promote the rapid development of national scientific and technological innovation.

Longly Capital is an investment company that mainly investing in early venture capital, focusing on industries with potential in China, like health industries and online industries.