China-based antibacterial technology developer Jinda Nano Tech secured approximately RMB200m ($29.1m) on Friday in a series B round featuring supply chain services provider Xiamen C&D, China Money Network reported.
The round was led by venture capital firm Shunwei Capital, which disclosed the news on its WeChat account, and included participation from investment manager Blueprint Innovation.
Founded in 2006, Jinda designs and manufacturers antibacterial materials that are used for the production of textiles, shoe materials, medical products, building materials and plastics.
The company uses nanomaterials and applies nanotechnology to create powders, antiseptic solutions and fibres that aim to fight infection.
In addition to researching and developing its products, Jinda will use part of the funding to extend its technology to other products such as environment-friendly ink and coatings. The company has not disclosed any previous funding rounds.
Wu Jixian, chairman of Jinda Nano Tech, said in a statement: “As an important part of China’s healthcare industry, the antibacterial segment is facing a development opportunity that comes once in a lifetime.
“Jinda Nano Tech welcomes the participation of strategic investors who have more diversified industrial resources to add value to the nano-antibacterial field.”