Sinopec Capital has led the Series C+ round of Thinkre Membrane Material, while Yanwei Technology has raised over $20 million in a Series A round. Separately, Desano has invested over $16 million in Kangfude Pharmaceutical.
Sinopec Capital leads Series C+ round of Thinkre
Suzhou-based Thinkre Membrane Material, which develops proton exchange membrane (PEM) products for hydrogen fuel batteries, has raised over 400 million yuan ($55.7million) in the second tranche of its Series C+ round.
Led by Sinopec Capital, the private equity arm of Chinese energy giant Sinopec Group, the round saw the participation of Fenghe Capital, Bridge Capital and CCB Investment Funds Management, a subsidiary of China Construction Bank.
This new round will further facilitate the cooperation between Sinopec Capital and Thinkre in the field of hydrogen energy, per the release. Founded in 2008, the firm had bagged 140 million yuan ($19.3 million) in the first tranche of its Series C+ round led by Bridge Capital in April.
Yanwei Technology raises over $20m
Biotech firm Yanwei Technology, also known as Evolyzer, has secured 150 million ($20.9 million) in a Series A round co-led by two state-affiliated investors including E-town Capital and SinoKing Capital, a subsidiary of Tsinghua Holdings.
The round also roped in HongShan, FreesFund, CDH Venture and Growth Capital, and Kangyu Capital as participating investors. Founded in 2022, Beijing-based Yanwei Technology engages in the bio-manufacturing of special chemicals.
Desano invests over $16m into Kangfude Pharmaceutical
Chinese anti-AIDS drug supplier Desano has injected 120 million yuan ($16.7 million) into Kangfude Pharmaceutical, an Active Pharmaceutical Ingredients (API) manufacturer.
The cash infusion will be used to finance Sintaho Pharmaceutical, a subsidiary of Kangfude, to set up the supply chain of polypeptide drugs.
Founded in 2004, Sintaho specialises in the production of chemosynthetic APIs in oncology, nervous system, and metabolic diseases. The firm also provides contract development and manufacturing services.
