China Digest: Dearer nets $65m; Temasek backs Abiochem
Dearer nets $65m in Series B
Shanghai-headquartered contact lens manufacturer Dearer has raised 420 million yuan ($65 million) in a Series B round of financing.
State-backed alternative asset manager CITIC Private Equity Funds Management (CPE), Legend Holdings’ investment arm Legend Capital and BioTrack Capital joined the round. Insight Capital made a follow-on investment in the round.
The company will use the proceeds for R&D and mass production of coloured contact lenses, the company said in a statement.
Its early-stage investors include Orient Securities, Borchid Capital, FOF Capital and eyecare service provider Eyebright.
Temasek invests in Abiochem