Chinese medical device firm EverBridge Group has secured 1 billion yuan ($137.7 million) in a Series A funding round led by healthcare-dedicated asset management firm CBC Group, according to a company release on Tuesday.
A fund managed by Beijing Shunxi Venture Capital Fund Management and Beishang Capital were among the participating investors, per the release. The proceeds will help accelerate the firm’s product R&D and commercialisation.
Founded in 2021, the Shanghai-headquartered company offers medical devices and software related to peripheral arterial disease (PAD), neurological disorders, and tumour. It has offices across Hong Kong, Singapore, Abu Dhabi, New York, and Toronto, among others, according to its company website.
The news comes shortly after CBC Group held the first close of its maiden RMB-denominated M&A fund at over 7 billion yuan ($965.6 million) on Monday, with a target size of 10 billion yuan ($1.4 billion).
With over $9 billion of assets under management (AUM), Singapore-headquartered CBC Group focuses on platform-building, buyout, private credit, venture, and real estate, across the healthcare space, including the likes of pharmaceutical, biotech, medical technology, and healthcare services.
