GeneMind raises $89M Series D for gene sequencing push
What's the deal? GeneMind Biosciences has raised nearly US$82.5M in a Series D round, the Chinese gene sequencing company announced on September 14. The round drew a large syndicate of state-backed and private investors.
Who's backing it? Shanghai International Group Investment, Shenzhen Capital Group, Shengwei Rongquan Fund, and Guoxin FundDealroom has a profile for this one. Try Dealroom → co-led the round. Hunan Caixin Industry Fund, Xiangjiang Guotou, Guangtou Capital, Guosheng Hongyuan, and Delian CapitalDealroom has a profile for this one. Try Dealroom → joined as new investors.
Existing backers Shenzhen High-Tech InvestmentDealroom has a profile for this one. Try Dealroom →, Wojie Capital, Shuangye Venture Capital, and Renxian Capital added to their stakes.
What's the endgame? GeneMind said it will use the funds for technical innovation in life omics, industrial delivery, and expansion into global markets.
The signal: The breadth of state and regional funds backing the round points to sustained Chinese appetite for building homegrown gene sequencing capacity, a field long dominated by a handful of overseas players.
Read more: m.sohu.com
Image credit: jurvetson
