Wancheng Gene Secures ￥10 Million in Series Pre-A Funding from Northern Light

(VCBeat) Feb. 5, 2021 -- Recently, Wancheng Gene, focusing on the development of high-throughput single-cell sequencing solutions, announced that it has raised tens of millions of yuan in a Series Pre-A funding round, with exclusive participation from Northern Light Venture Capital. Proceeds from the transaction will be used for the market promotion of the microfluidic devices for single-cell sequencing and the supporting multi-omics reagents independently developed by Wancheng Gene, and the business of high-throughput single-cell sequencing services.

Founded in February 2018, Wancheng Gene has built an advanced high-throughput single-cell multi-omics system by using droplet microfluidic technology that is more convenient to operate, more functional and more extensible to reagents. Over the past three years, Wancheng Gene has been engaged in businesses of both upstream devices and reagents, and downstream applications.

On the one hand, Wancheng Gene has completed the engineering prototype development of the droplet microfluidic device for single-cell sequencing and plans to begin user testing in the first half of 2021 to simplify the pre-processing procedure of high-throughput single-cell sequencing.

On the other hand, Wancheng Gene is committed to transforming single-cell analysis from the technology in laboratories to standardized products at industrial level. The company has fully launched various multi-omics reagents for the transcriptome, epigenome, and proteins, which can meet the demand of basic researches, clinical medicine, and the different needs of the industry.

Besides, Wancheng Gene provides custom software development services for downstream clients. For most users, high-throughput single-cell sequencing is an unfamiliar and complex technology. Wancheng Gene supports them with tailor-made development services to transform common reagents and devices into convenient tools to solve specific problems.

Founded in 2005, Northern Light is a venture capital firm targeting early-stage opportunities of innovation and disruptive technology. The company manages 5 USD funds and 5 RMB funds with a total amount of US$4.5 billion. Northern Light focuses on 3 main sectors including TMT, advanced technology, and healthcare.