Daxiang Tech Closes ￥10 Million Extended Series A Financing

(VCBeat) July. 30, 2021 -- Recently, Beijing Daxiang Technology Co., Ltd. ("Daxiang Tech") announced that it has obtained tens of millions in extended Series A round of financing, led by Hongtai Aplus with participation from Renai Capital. The existing investors CDH VGC and Furong Capital continue to increase their investment.

It is worth mentioning that as a pioneer in the Organoid-on-a-Chip field in China, Daxiang Tech has just completed a financing round of tens of millions in May this year. Less than two months later, it has received investments again.

Zhou Yu, the CEO of Daxiang Tech, said that Daxiang Tech completed the continuous two rounds of financing with a total amount of one hundred million yuan in just three months. In addition to the chip industry chain layout which is already scheduled, Daxiang Tech will use the funds to promote more iterations of the Organoid-on-a-Chip technology, providing high-bionic and high-flux models for innovative drug research and development of cancer, neurodegenerative diseases, and inflammatory diseases, At the same time, the company is going to complete the standardization of organoid culture system and expand its application in the field of personalized precision medicine.

In August 2020, Daxiang Tech launched 3 types of Organoid-on-a-Chip systems with fully independent intellectual property rights, which is also the first time for a domestic enterprise to launch related commercial products. On this basis, a variety of highly bionic human physiological/pathological models, such as liver, kidney, tumor, blood-brain barrier and so on, have also been recognized by scientific research institutions and pharmaceutical enterprises.

Hongtai Aplus was founded in 2014 by renowned entrepreneur Yu Minhong and senior investment banker Sheng Xitai. After many years of development, the AUM of Hongtai Aplus has exceeded 30 billion yuan, with investment focusing on artificial intelligence/big data, advanced manufacturing (intelligent manufacturing), consumer education, “Big Health” and other fields.

Established in 2002, CDH is one of the leading alternative investment fund managers focused on China today with over US$19 billion of assets under management, as of February 31, 2020. From its roots in private equity, CDH has expanded to become a diversified alternative asset management platform covering: Private Equity, Real Assets, Venture and Growth Capital, Mezzanine & Credit, Public Equities and Wealth Management. CDH VGC focuses on investments in healthcare, TMT and other emerging industries with Chinese characteristics.