Kotai Biosciences Secures Over RMB 100 Million Series A Financing Led by Source Code Capital

VCBeat (WeChat ID: vcbeat) recently learned that Ketaiya Biotechnology Co., Ltd. (hereinafter referred to as “Ketaiya Bio”) announced the completion ofOver RMB 100 MillionSeries A financing round,Led by Source Code Capital, with participation from FoodX Capital and Sherpa Partners, and Yuanqi Capital serving as the exclusive financial advisor。

The proceeds from this round of financing will be primarily used by Ketaiya Biotech to expand its team, build technical platforms, and advance its product pipeline. Efficient R&D requires a talented team, and successful product development relies on support from advanced technical platforms. Ketaiya Biotech will enhance its integrated synthetic biology technology platform, which is based on automation, miniaturization, high-throughput capabilities, big data, and artificial intelligence, thereby accelerating the research and development of its product pipeline.

Previously, Ketaiya Biotech completed a tens-of-millions-of-yuan angel financing round in 2021.

Ketaiya Bio, established in 2021, is a synthetic biology company dedicated to the research and development, production, and sales of high-value-added bio-based products. Leveraging cutting-edge synthetic biology technologies and advanced biomanufacturing processes, the company provides natural, green, and sustainable innovative ingredients for the personal care, nutrition, and pharmaceutical markets. In doing so, it helps society reduce its reliance on petroleum and addresses pressing global challenges, including environmental pollution, carbon emissions, and climate change.

Regarding the completion of this round of financing,Dr. Zhao Lishan, Founder and CEO of Ketai BiologyHe stated, “We are deeply grateful for the recognition and strong support from the investors in this funding round. Synthetic biology is an emerging technology with disruptive potential; its successful application can drive the transformation of traditional chemical manufacturing toward green and efficient biomanufacturing, accelerating the development of the bio-based economy and the achievement of dual carbon goals. I am confident that Ketaiya’s team, with their years of industrial experience, foundational technological innovation capabilities, and international background, will enable us to lead the industrialization of synthetic biology, delivering sustainable, high-quality, and cost-effective products to consumers while creating a positive social impact.”

Dr. Zhao Lishan served at Amyris, a pioneer in synthetic biology in the United States, for 14 years, holding the positions of Vice President of R&D and President of China Region. During his tenure at Amyris, Dr. Zhao led or participated in the development and operation of the world’s first synthetic biology technology platform, as well as the translation of multiple products—including artemisinin, farnesene, and vitamin E—from laboratory R&D to large-scale production and commercialization. As the head of Amyris in China, Dr. Zhao successfully established and expanded the company’s business operations and partnership network in the country.

In terms of its team, Ketaiya Biotech comprises senior executives from leading domestic and international synthetic biology companies, including Amyris, Meihua Bio, and Evonik China. The core members have an average of over 10 years of industry experience, with expertise spanning strain engineering, fermentation and extraction processes, scale-up manufacturing, and marketing. Collectively, the team possesses commercialization experience in the end-to-end development of more than 20 synthetic biology products, making it the team with the most extensive industrialization experience in China’s synthetic biology sector.

Regarding the lead investment in Ketaia Bio during this round,Yun Gang Huang, Source Code CapitalStatement: Synthetic biology is a highly promising strategic direction, with biomanufacturing poised to bring transformative changes to the traditional petroleum-based chemical industry. Source Code attaches great importance to this field. The Ketaiya team comprises seasoned industry veterans embarking on a new journey; they possess extensive experience and profound expertise in genetic engineering, enzyme engineering, and high-throughput automation technologies, coupled with deep insights into the industry. We look forward to Ketaiya accelerating the “catalysis” and driving a “qualitative leap” in this domain.

Zhou Huanda, FoodX CapitalIt also acknowledged: The Ketaiya team possesses well-established capabilities in strain and process development, built up over the long term, integrating China’s advantages in fermentation capacity and chemical infrastructure, while constructing a core data platform. The future development of synthetic biology in China will inevitably face numerous challenges. As one of the few teams that have weathered the industry’s ups and downs, we have strong confidence in Ketaiya’s biotechnology platform and mass production capabilities. We look forward to Ketaiya leading the development of intelligent biological manufacturing in China and bringing positive impact to the agri-food technology sector.

Sherpa InvestmentStatement: In recent years, synthetic biology has garnered increasing attention due to its immense industrial potential. As an early investor in China’s synthetic biology sector, Sherpa Capital looks forward to partnering with entrepreneurs to achieve long-term success and reach new heights. We highly recognize the Kotaiya founding team’s profound understanding of the industry, their extensive practical experience, and their strategic roadmap for future development. We are confident that Dr. Zhao will lead the team to fully leverage their advantages in precision, efficiency, and data intelligence, creating substantial social value in this exciting industrial field.

Yuanqi CapitalWe believe that China is entering an era of carbon neutrality and high-end manufacturing. Leveraging its robust domestic fermentation industry foundation and the advantages of its manufacturing clusters, synthetic biology technology will drive more extensive industrial transformation. The Ketaya team is a rare star player in China, possessing R&D capabilities, industrial experience, and data platform expertise. We are confident that under the leadership of Dr. Zhao, Ketaya will be built into a world-class Chinese bio-intelligent manufacturing enterprise.

Source Code Capital is a venture capital firm with an entrepreneurial spirit. Since its founding in the spring of 2014, Source Code Capital has remained committed to investing in technology-driven innovation and the creation of enduring, tangible value. The firm has invested in more than 300 startups (including ByteDance, Meituan (3690.HK), KE Holdings Inc. (NYSE:BEKE), and Li Auto (NASDAQ:LI, 2015.HK)), spanning seed, early, and growth stages. Its investment sectors encompass industrial digitalization, intelligent manufacturing, consumer technology, life sciences, green development, and global expansion. Source Code Capital places great emphasis on entrepreneurs and is dedicated to “Empowering You with Full Source Code Strength,” offering MaHui to connect within the entrepreneurial ecosystem, MaNao courses to enhance entrepreneurial insights, and MaLi services to support entrepreneurs’ success.

Bits x Bites is a venture capital fund headquartered in Shanghai, dedicated to early-stage agri-food technology innovation projects in the Chinese market. Bits x Bites invests in startups with broad market prospects and disruptive technologies, including agri-food tech teams from both China and around the world. Its investment scope covers the entire agri-food industry value chain, ranging from upstream smart agriculture, disease prevention, and nutrition for animals and plants, to downstream innovations in human nutrition, health, and alternative proteins.

Sherpa Capital was established in 2018, focusing on healthcare projects in China or closely related to local Chinese applications that possess high-growth potential. These investments span but are not limited to pharmaceuticals, medical devices, healthcare services, and internet and technology sectors related to healthcare. As a specialized healthcare investment fund, Sherpa Capital’s core team members have collaborated for many years, bringing extensive investment experience and a strong track record in China’s healthcare industry. The team is committed to being the “climbers behind the climbers,” empowering entrepreneurs to reach the pinnacle of their careers.

Yuanqi Capital was established in 2019. Its core founding team boasts extensive experience and profound market insights, focusing on providing equity financing, mergers and acquisitions, and other services to high-quality growth-stage enterprises. Yuanqi Capital primarily covers the sectors of healthcare, consumer goods, and technology-enabled business services. Since its inception, it has successfully assisted over 50 high-quality enterprises in securing financing.