China-based molecular diagnostics technology provider Singleron Biotechnologies has raised $30m in a series A2 round led by internet group Tencent, DealStreetAsia has reported.
The round included Softbank China Venture Capital, which invests on behalf of telecommunications and internet group SoftBank; Lilly Asia Ventures, an investment vehicle for pharmaceutical firm Eli Lilly; CDH Investments and Sherpa Healthcare Partners.
Founded in 2018, Singleron has developed single cell analysis technology for use in clinical diagnosis, drug development and healthcare management. It will use the funding to further develop its single cell sequencing technology and expand its international presence.
All the series A2 investors were described as existing backers. The company collected more than $10m in a November 2020 series A-plus round backed by Softbank China Venture Capital, Lilly Asia Ventures, CDG Capital and CDH Investments.
Lilly Asia Ventures had led a $30m series A round for Singleron two months earlier that also featured Tencent, Sherpa Healthcare Partners, Arch Venture Partners, China Growth Capital and Chenling Asset Management.
The company raised $14.1m in a June 2019 pre-series A round featuring Sherpa Healthcare Partners, Oriza Holdings, Frees Fund and China Growth Capital. It came after Oriza and Frees Fund had provided “millions of dollars” for Singleron the previous year.