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China Digest: Biopharma startup Alebund raises $60m; Revere VC closes seed round
May 11, 2021
Chinese biopharmaceutical startup Alebund Pharmaceuticals has secured $60 million in a Series B round, while San Francisco and Hong Kong-based asset management firm Revere VC has closed its seed round.
Alebund Pharma nets $60m in Series B round
Alebund Pharmaceuticals, a biopharmaceutical startup that develops innovative therapies for the treatment of renal diseases, has bagged $60 million in a Series B round of financing, the startup announced on May 9.
The Series B round was led by Quan Capital, a life sciences venture capital (VC) firm, with participation from an unspecified sovereign wealth fund; 3E Bioventures Capital, an investor of life sciences and biomedical technologies; and healthcare investment platform Sherpa Healthcare Partners.
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Hong Kong startup ICW eyes supply chain diversification demand amid trade war
For American importers, finding suppliers these days can be challenging not only due to COVID-19 travel restrictions. The U.S. government’s entity list designations, human-rights-related sanctions, among other trade blacklists targeting Chinese firms have also rattled U.S. supply chains.
One young company called International Compliance Workshop, or ICW, is determined to make sourcing easier for companies around the world as it completed a fresh round of funding. The Hong Kong-based startup has just raised $5.75 million as part of its Series A round, boosting its total funding to around $10 million, co-founder and CEO Garry Lam told TechCrunch.
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China Digest: Fintech startup XTransfer raises Series C2; E15 VC closes $32m Fund II
Bill Deng Guobiao, co-founder and CEO of Chinese fintech startup XTransfer Premium
Chinese cross-border fintech firm XTransfer has raised a Series C2 round of financing, while Hong Kong-based E15 VC closed its second fund at $32 million.
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