Onechip Bioelectronics Snares ￥10M in Series B from MatrixPartners China

According to VCBeat, Onechip Bioelectronics has announced the completion of a Series B financing of tens of millions of yuan with participation from MatrixPartners China. The funds raised will be used towards the development, mass production, certification and sales operations of diagnostic devices and reagents for POCT molecular testing.

Onechip Bioelectronics is a high-tech company committed to the industrialization of semiconductor biosensors. Through researches in the field of environmental protection and disease detection, it helps people to live a healthy life. At present, the company's main products include small DNA sequencers, portable nucleic acid detectors and supporting reagent cards, and water quality monitoring products. Genetic testing products are currently in the prototype testing stage, and water quality monitoring products are being introduced into the market in small batches.

Onechip Bioelectronics uses biochemical sensor chips to miniaturize the gene sequencer and significantly reduce the cost of production. Specifically, the company has developed digital PCR instruments based on CMOS chips and gene sequencers based on ATGCs.

The ATGC MICRO gene sequencer is different from those using fluorescent sequencing. It can test dozens of samples at a time, and it only takes 5 hours to complete the whole sequencing process without waiting for a large number of samples to be pieced together. Besides, the low cost of consumables reduces the startup time of the sequencer and greatly improves efficiency.

In addition, the POC nucleic acid testing products and water quality monitoring products of Onechip Bioelectronics use biosensors and microfluidics as the core technology, aiming to bring professional testing to communities and families.

Matrix Partners China builds long-term relationships with entrepreneurs and helps them build significant industry-leading companies. Since its inception in 1977, Matrix Partners China has made hundreds of investments and played an active role in the development of many successful businesses, 50 of which went on to IPO, and 75 of which have gone on to profitable M&A events. Its past successes include Focus Media, Eachnet, and Baidu, among others. The company invests across multiple sectors and stages.