Pushikang Biotech Secures Over RMB 100 Million in Series C+ Financing to Accelerate Microfluidic POCT Platform Development

Recently,Zhejiang Pushikang Biotechnology Co., Ltd. (hereinafter referred to as “Pushikang Biotech”) has completed a Series C+ financing round exceeding RMB 100 million. This round of financing was led byShiyue Capital led the round, with follow-on investments from Shijie Venture Capital and Chang’an Huitong, among others; existing shareholder Yinglian Health continued to increase its stake.

Pushikang Biotechnology, founded in 2014, is a global leader in centrifugal microfluidics platform-based solutions. Upholding the philosophy of “making health testing accessible,” the company focuses on critical care and chronic disease management diagnostics, developing microfluidic products applicable across diverse scenarios and clinical departments. Leveraging its core integrated R&D capabilities encompassing discs, reagents, and instruments, Pushikang has developed a comprehensive POCT product portfolio covering coagulation, biochemistry, chemiluminescence, molecular diagnostics, and other fields to meet the needs of various clinical settings.

The company’s product portfolio features multi-model designs tailored to diverse market applications. Its high-throughput desktop instruments are designed for scenarios such as clinical laboratories, emergency departments, and point-of-care settings. Meanwhile, its portable instruments achieve a high degree of automation and convenience through features such as lyophilized reagent packaging, enabling deployment in community hospitals, clinics, and pharmacies, thereby bridging the “last mile” of health testing. Over the past two years, the company has successfully implemented multiple government-led strategic projects, providing Pushikang’s POCT medical testing solutions for primary healthcare settings, established several public health demonstration projects at the grassroots level, and forged strategic partnerships with renowned enterprises such as Autobio Diagnostics and Huadong Medicine.

This round of financing will further accelerate Pushikang’s expansion of its centrifugal microfluidics platform product pipeline, focusing on critical care and chronic disease management, while speeding up its overseas sales layout. The commercial launch of its flagship in-development product—the integrated immunoassay, biochemistry, and coagulation analyzer—will bring transformative innovation to the POCT market.

Dr. Yu Bo, Founder of Pushikang BiotechnologyStatement: Pushikang’s ability to secure financing amidst the current fiercely competitive domestic market is a testament to the continued support and recognition from investors and industry professionals. This strengthens our resolve and confidence in becoming a platform-based enterprise centered on centrifugal microfluidics core technology, building a microfluidics industrial ecosystem, and emerging as an industry leader. Guided by its vision of “making health testing accessible,” Pushikang will leverage this round of financing to further strengthen R&D of core technologies, expand production lines, enhance delivery capabilities, and accelerate market expansion both domestically and internationally. In particular, we aim to provide more comprehensive systemic solutions for clinical departments in tiered hospitals and primary healthcare settings, meeting customers’ rapidly growing needs and fostering co-creation, symbiosis, and win-win outcomes with our clients. Over the next year, Pushikang will launch several flagship product solutions, driving innovation in the microfluidics diagnostics industry and establishing itself as a globally trusted long-term provider of technologies and solutions for the medical industry.

Liu Zhen, Head of Investment at October CapitalStatement: Pushikang is an outstanding platform-based IVD enterprise. Leveraging centrifugal microfluidics as its core underlying technology, the company has developed a comprehensive product portfolio covering coagulation, clinical chemistry, and immunoassay testing, catering to the needs of hospitals at various tiers and achieving true whole-blood automation in clinical laboratory testing. We are honored to participate in Pushikang’s current financing round. We are optimistic about the broad application of the company’s products in scenarios such as emergency and critical care, as well as primary healthcare. Moving forward, we will continue to support the company in leveraging its core technologies to develop more innovative products that meet clinical demands.

Zhang Nan, Head of Shijie VenturesIt indicates that balancing technological advancement with product accessibility, and managing existing markets while anticipating future ones, are challenges facing every entrepreneur. Leveraging its centrifugal microfluidics technology platform, Pushikang has innovatively developed a series of products that combine technical performance with commercial viability, demonstrating differentiated competitive advantages. We firmly believe that Pushikang will develop more effective IVD solutions for a wider range of medical scenarios.

Wang Ruolin, Head of Yinglian Health Investment“It has been a pleasure to witness Pushikang’s rapid growth over the past year. The company has established a highly distinctive product portfolio, poised for further breakthroughs across diverse healthcare scenarios. We are particularly optimistic about the potential of Pushikang’s ‘all-in-one’ POCT products in the primary care market. Yinglian Healthcare is increasing its investment in this funding round, demonstrating our long-term commitment to supporting the company’s development.”

Shiyue Capital is a rapidly growing, emerging private equity investment management firm founded by former senior executives from leading domestic securities firms, along with core members of their equity investment and investment banking teams. Shiyue Capital operates three management platforms and currently manages more than 10 private equity funds, with assets under management exceeding RMB 3 billion. Since 2016, it has invested in nearly 50 projects, with over 20 portfolio companies successfully listed on China’s A-share market, and more than 10 pre-IPO projects currently under review for listing applications.

Shijie Ventures is a venture capital fund focused on innovative companies in the life and health sector, dedicated to identifying and nurturing revolutionary and disruptive technologies. By collaborating closely with industry partners, the fund connects its portfolio companies with essential resources to accelerate their growth and promote the industrialization of their technologies. Its primary investment areas include biopharmaceuticals, CXO (CRO/CMO), reagents and consumables, instruments and equipment, advanced cell and gene therapies, and pharmaceutical digitalization.

Yinglian Health Fund was established in early 2019, with cornerstone investors drawn from leading pharmaceutical companies in the industry. Research-driven, the fund deeply explores global investment opportunities in cutting-edge innovative drugs, medical technologies, and devices. It collaborates with top scientists, principal investigators (PIs), and clinical translation teams to incubate companies, addressing the challenge of translating source innovation from concept to reality (0 to 1).