Tingke Bio Completes Tens of Millions of RMB Series A+ Financing to Accelerate Construction of Microfluidic Chip Production Base

VCBeat has recently learned that Hangzhou TINKERBIO Biotechnology Co., Ltd. (hereinafter referred to as “TINKERBIO”) announced the completion of its tens-of-millions-yuan Series A+ financing round, exclusively invested by Panlin Capital.This round of financing was advised by Probe Capital as the exclusive financial advisor.The funds will be used to construct the Hangzhou microfluidic chip production base, accelerate TINKERBIO’s expansion of its CDMO business in the global market, and support R&D of new technologies and processes as well as capacity expansion.

TINKERBIO, established in 2014, is a technology platform company dedicated to the development and mass production of microfluidic chips. Positioned as a “Contract Development and Manufacturing Organization (CDMO) providing comprehensive third-party R&D and manufacturing solutions for microfluidic chips,” the company leverages its end-to-end microfluidic technology platform to deliver professional and holistic product design, development, and manufacturing solutions. These services cater to industries including in vitro diagnostics (clinical chemistry analysis, immunoassays, molecular diagnostics, gene sequencing, and liquid biopsy), organ-on-a-chip, nanodrug/nanomaterial synthesis, and food safety/environmental monitoring.

Figure 1. TINKERBIO's Hangzhou Headquarters and R&D Center

Microfluidics is a technology that enables precise manipulation of fluids within microscale spaces (10–1000 μm). This technology integrates basic functional units involved in sample analysis—such as preparation, reaction, separation, and detection—onto a single microscale chip, allowing for automated analysis. It features integration, miniaturization, high throughput, intelligence, and low consumption of samples and detection reagents. Consequently, microfluidic chip systems represent a significant direction and frontier in the development of life sciences, with extensive applications and practical implementation in fields such as in vitro diagnostics, life sciences, drug synthesis, and organ-on-a-chip technologies.

In recent years, microfluidics technology has been thoroughly validated in overseas markets, with multiple products successfully commercialized. In China, the application of microfluidics in product development is still in its early stages, presenting immense growth potential. Driven by national policy support and the strategic upgrading of traditional IVD enterprises, China’s microfluidics industry is expanding at a high annual growth rate of 27%. Leveraging nearly two decades of accumulated experience in industry-academia-research collaboration by its founder, Dr. Ye Jiaming, TINKERBIO has established a first-class, full-chain microfluidics technology platform in China, covering everything from theoretical research and chip design to fabrication and mass production. The company has effectively capitalized on market demand, rapidly entering the microfluidics CDMO sector by leveraging its technological advantages in R&D and design (D-end). It can quickly deliver products tailored to the personalized needs of clients across various fields, significantly reducing their product development costs.Currently, the company has provided microfluidic chip CDMO services to over a hundred leading IVD and biopharmaceutical enterprises/listed companies both domestically and internationally. Its R&D revenue ranks first in the industry, and its capability for commercial-scale technology transfer has been initially validated.

Figure 2. TINKERBIO Microfluidic Chip Product Solution

TINKERBIO currently operates its headquarters and R&D center in Hangzhou, along with two manufacturing bases in Hangzhou and Jiaxing. The company has obtained ISO 13485 certification for the “Design, Development, Production, and Sales of Microfluidic Chips for In Vitro Diagnostics.” It possesses full-process translation capabilities from design and development to mass production for microfluidic chips made of PMMA, PC, COC, PS, PP, PDMS, glass, and other materials.

Figure 3. TINKERBIO's Production Base in Xiaoshan, Hangzhou

Figure 4. Injection Molding Workshop at TINKERBIO’s Jiaxing Production Base

TINKERBIO boasts a world-class team dedicated to the research, development, production, and management of microfluidic chip products.Dr. Ye Jiaming, Founder of TINKERBIO, studied under Academician Tian Zhaowu of Xiamen University and Professor Lin Bingcheng of the Dalian Institute of Chemical Physics, Chinese Academy of Sciences. He previously held positions at CapitalBio Corporation (also known as the Beijing National Engineering Research Center for Biochip) and the Yangtze Delta Region Institute of Tsinghua University. With over 20 years of experience in product research and development, manufacturing, and management, Dr. Ye specializes in microfluidics, molecular diagnostics, immunodiagnostics, and analytical instrumentation.Dr. Qiu Bo, the General Manager, previously held positions at Datang International Chemical Technology Research Institute, Datang International Power Generation Co., Ltd., and Sansheng Smart Education Technology Co., Ltd. (Stock Code: 300282), bringing over 20 years of experience in R&D management and corporate operations. In addition, TINKERBIO has established a Scientific Advisory Board composed of top-tier authorities in microfluidics and biomedicine, including Chief Microfluidics Scientist Professor Lin Bingcheng from the Chinese Academy of Sciences, Chief Biological Scientist Professor Zhou Haimeng from Tsinghua University, and Mr. Yu Yongping, Secretary-General of the Life Sciences and Medical Health Professional Committee of the Tsinghua University Alumni Association.

Regarding this round of financing and TINKERBIO's future plans,Dr. Ye Jiaming, Founder and Chairman of TINKERBIO, stated“We sincerely appreciate Panlin Capital’s strong recognition and robust support for TINKERBIO. This capital infusion will propel TINKERBIO’s microfluidic CDMO business to new heights, further enhancing the company’s R&D and manufacturing capabilities in microfluidics. Since its inception, TINKERBIO has consistently adhered to ‘Simplifying Microfluidics, Enhancing Life and Health’ development mission and ‘Microfluidics Technology Empowers Users to Achieve Win-Win Cooperation” business philosophy, striving to become a facilitator and innovation leader in the microfluidics industry. Leveraging this financing round as an opportunity, TINKERBIO will accelerate the construction of its 5,000-square-meter production base in Hangzhou, continue to expand microfluidic chip production capacity, strengthen R&D capabilities and process expertise, adhere to a customer-centric approach, continuously innovate and upgrade its production systems, and rapidly enhance its market service network, thereby providing domestic and international clients with superior microfluidics CDMO services characterized by higher quality and greater efficiency.”

Professor Lin Bingcheng, Chief Scientist at TINKERBIO, stated“Warm congratulations to TINKERBIO on its partnership with Panlin Capital. China’s microfluidics industry is currently in a phase of rapid development. As a ‘platform-based, disruptive’ scientific technology, microfluidic chips have become an ideal technical platform for the innovative upgrading of traditional IVD products. The TINKERBIO team boasts over 20 years of expertise in microfluidics technology and more than 10 years of experience in product development and engineering. Its products comprehensively cover fields such as IVD biochemistry, immunodiagnostics, molecular diagnostics, and cell analysis, demonstrating robust capabilities in microfluidic product development and manufacturing. We hope that the TINKERBIO team will seize emerging opportunities and contribute to the industrialization of microfluidics in China.”

Mr. Xue Mengjun, Managing Partner of Panlin CapitalIt stated: “Microfluidics technology boasts a wide range of application scenarios in fields such as in vitro diagnostics (IVD), drug discovery, and biopharmaceuticals, making it an emerging scientific discipline with significant growth potential. The development of microfluidic chips is a systematic engineering endeavor that requires a rare team with interdisciplinary expertise and years of industrial experience. TINKERBIO has formed a core founding team represented by Dr. Ye and Mr. Qiu, effectively integrating R&D and production experience with commercialization expertise. Under their leadership, the company has established a clear and differentiated development path: rapidly entering the microfluidics sector through industry-leading device-side (D-end) R&D, building competitive barriers with patents, and evolving into one of the few comprehensive enterprises in the industry capable of excelling in both ‘R&D and manufacturing’ as its manufacturing-side (M-end) capabilities continue to improve. Currently, TINKERBIO has become a representative enterprise in China’s upstream microfluidics industry, ranking among the top tier. Panlin Capital is highly optimistic about the company’s continued advancement amidst the upcoming wave of domestic microfluidics industrialization and collaborative innovation within the global microfluidics supply chain.”

Panlin Capital, established in 2010, is an early-to-mid-stage venture capital firm that focuses on the healthcare and To-B/technology sectors. Under the theme of “driving industrial upgrading through technological innovation,” it centers its investments on biotechnology and data intelligence applications.

In the biomedical sector, Panlin Capital leverages biotechnology to focus on investing in innovative biologics R&D for major diseases and companies driving import substitution of high-end medical devices. Its early-stage portfolio includes biopharmaceutical enterprises such as Kangtai Biological Products (300601), Ribobio, Shengnuoji, GenFleet Therapeutics, Avidity Biosciences, Cothera, ABM, Faron Pharmaceuticals, Jianxin Biologics, ZhiXin HaoZheng, and Zhishan Weixin; as well as medical device, service, and innovative biotech application companies including Hybribio (300639), Jinshi Bio, Antai Kangcheng, Translucent Imaging, Langrui Medical, Omega Meditech, Hybribio Diagnostics, Yue'er Gene, 3N Technology, Beijing Children’s Hospital Kyoto Branch, Codon, and Liwensuo.

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Probe Capital, established in 2017, is a boutique investment bank specializing in healthcare and life sciences. Its business portfolio encompasses financial advisory, direct investment, industry consulting, and innovation incubation. The founding team hails from leading private equity firms, financial advisory agencies, management consulting companies, and vertical medical media outlets. Since its inception, Probe Capital has consistently completed double-digit private financing and M&A transactions annually, with cumulative transaction values exceeding RMB 10 billion. In terms of value-added services for enterprises, the Probe Capital team boasts extensive and mature industry experience. In 2020, Probe New Healthcare Fund was launched and has since invested in multiple leading companies within the sector.

Development Mission: Make Microfluidics Simpler, Make Life Healthier

Business Philosophy: Empowering Users with Microfluidics Technology to Achieve Win-Win Cooperation

Corporate Culture: Integrity and Pragmatism, Focus and Professionalism, Win-Win Cooperation, Persistent Innovation

Core Business: R&D outsourcing, manufacturing (ODM/OEM) services for microfluidic chips and supporting instruments