China Digest: WeMed nets over $46m; Tencent, Sequoia back WakeData
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WeMed nets over $46m in Series D
Interventional diagnosis medical equipment provider Beijing WeMed Medical Equipment Co Ltd has received over 300 million yuan ($46 million) in a Series D round led by Lake Bleu Capital, a Hong Kong-based asset management firm.
Everest VC and Suzhou Longmen Ventures were the new investors in the round that also saw participation from return backer Lucion. Haoyue Capital served as the exclusive financial advisor, it said in a WeChat post on Thursday.
WeMed will deploy the fresh proceeds towards branding, surgical robots, and digital platform initiatives. WeMed’s investors include Huagai Capital, Northern Light Venture Capital and Marathon Venture Partners. Earlier, WeMed had completed a 100-million yuan ($15 million) Series C+ round exclusively from Hillhouse Capital’s GL Ventures.