b-ONE Bags over ￥100M in A New Round of Financing

According to dealstreetasia.com, b-ONE Ortho Corp ("b-ONE"), an orthopedic healthcare solution developer, has garnered over 100 million yuan ($14 million) in a new round funding led by Wuxi Municipal government-backed Taihu Fund.  F-Prime Capital and existing investor Eight Roads joined the round, according to a company statement. 

Founded in 2015, b-ONE specializes in developing innovative orthopedic healthcare solutions to restore motion and improve surgical outcomes. The USFDA approved its propriety product, MOBIO, in October 2018 while, in August last year, its JUVENO solution got approval. 

By February 2020, b-ONE's knee system had entered nearly 200 Chinese hospitals. In addition, b-ONE has provided products for operations in several states and has established a sales headquarters and two logistics service centers in the US. In international markets except for China and the United States, b-ONE has so far registered products in seven countries and will soon help to do the first operation in early May.

At the beginning of this year, b-ONE also reorganized its international R&D department, and established a global innovation center ("BIC") to focus on the development of new materials and new processes. The main task of BIC is developing cutting-edge technologies through cooperation with Chinese and American universities and research institutions and realizing the transformation as soon as possible.

Headquartered in New Jersey and Shanghai, b-ONE has also set up offices in Bristol, Beijing and Suzhou.  

b-ONE will invest in market expansion and work on its product pipeline. In 2018, b-ONE had closed an undisclosed round of financing from Eight Roads. 

F-Prime was formerly known as Fidelity Investments, which was founded in 1946. It grew from a single mutual fund into one of the largest asset management firms in the world, with over $2 trillion in assets under management. For the last forty years, this venture capital group has had the privilege of backing other great entrepreneurs as they built ground-breaking companies in technology and life sciences.

 In the US and Europe, F-Prime Capital is investing in healthcare (formerly Fidelity Biosciences) and in technology (formerly part of Devonshire Investors). In other geographies, its sister fund is called Eight Roads (formerly Fidelity Growth Partners), with investment teams in London, Shanghai, Beijing, Hong Kong, Tokyo, and Mumbai.