Zhejiang Mingdu Zhikong Technology Co., Ltd, also known as Mingdutech, has gathered over 300 million yuan ($47 million) in a Series B round of financing, per a company statement on Monday.
The current round was led by China Merchants Group’s subsidiary China Merchants Medical and Healthcare Industry Equity Fund. China-Singapore Suzhou Industrial Park Development Group’s investment arm also participated in the round.
Mingdutech will use the capital for technology innovation, service support, and market expansion.
Mingdutech, which helps life science companies with digitalisation solutions, serves over 100 pharma firms such as Sanofi, Johnson & Johnson, Shanghai Pharma and CR Sanjiu.
In January 2020, Mingdutech had closed 80 million yuan ($11 million) in its Series A+round funding from China Merchants Venture, Zheshang Venture Capital and Topping Capital.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on May 28 – 31, 2021.
