Wellgrow Techonogy Snags $1.4M in Series A Financing, Led by Green Pine Capital Partners

According to lieyunwang.com, in-vitro diagnostic (IVD) reagent and medical device developer Shenzhen Wellgrow Techonogy Co., Ltd. ("Wellgrow Techonogy") has completed the Series A Financing of tens of millions yuan (US$1.4 million), led by Green Pine Capital Partners with participation from Vinno Capital. Proceeds of this financing will be used for the R&D of the FCM (flow cytometry method) immunoassay platform and relevant products, which is expected to achieve lower cost and high flux in the field of IVD clinical immunoassay.

Founded in August 2016, Wellgrow Techonogy focuses on the R&D of in-vitro diagnostic reagents and medical devices. The company is committed to the development of fluorescence detection technology. Its product includes cell analysis and detection equipment, such as flow cytometers, which can be used in life science research, clinical diagnosis and food safety testing, etc.

The members of Wellgrow Techonogy's R&D team have experience in IVD product development for 15 years on average. At present, the encoding microbeads based on the EasyCell FCM platform of Wellgrow Techonogy is fully compatible with the mainstream flow cytometers and has been able to support the development of up to 30 co-detection reagents.

Founded in 2007, Green Pine Capital Partners is one of the most time-honored venture capital institutions in China, with rich experience in biomedicine, new energy and materials, advanced manufacturing, artificial intelligence, and other fields. The company not only provides funds for the invested enterprises, but also provides high-quality post-investment services and integrated resources. Green Pine Capital Partners manages funds of ten billion yuan and has invested more than 7 billion yuan.

Vinno Capital focuses on early-stage venture investments in ICT and healthcare-related fields. The company looks for cutting-edge technologies mainly in China, North America and Israel.