Desgeo, which produces small smart aquariums for consumers, has secured ‘several tens of millions’ yuan in its Pre-A funding round from Shanghai-based investment firm Ventech China.
The Beijing-based intelligent fish tank maker plans to use the proceeds to finance its product development and market expansion, according to a release on August 16.
Founded in 2015, Desgeo taps into the country’s burgeoning pet product market characterised by its resilience despite the economic downturn. Post-financing, Desgeo targets to expand its products to Japan, as well as the US and European markets.
The investment came shortly after US private equity fund Advent International injected an undisclosed sum into Chinese pet food manufacturer Seek Pet Food, according to an announcement on August 12.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from August 12 – 16 2024.
