PureJun Completes Three Rounds of Financing Within a Year, Focusing on Phase-Change Thermal Control Technology to Lead the 'Dual Carbon' Race

VCBeat (WeChat: vcbeat) learned at the earliest opportunity that recently,Chunjun New Materials (Shenzhen) Co., Ltd. (hereinafter referred to as “Chunjun”) Announces Completion of Three Rounds of Financing Totaling RMB 100 Million Within One Year. The latest round of financing was led by AVIC International,Existing ShareholdersCowin Capital and Huagai Capital participated as co-investors. Notably, existing investor Huagai Capital, which had invested in the angel round and subsequent top-up rounds, continued to increase its investment in this round. The proceeds from the financing will be used forDevelopment and sales of next-generation products, market expansion, and supplemental cash flow.

Chunjun is a high-tech enterprise integrating R&D of temperature-control materials and devices, design of temperature-control solutions, production, and sales. It is committed to providing comprehensive cold-chain transportation solutions, data center temperature control, 5G IoT traceability platforms, standardized container leasing solutions, as well as the R&D, production, and sales of phase-change materials and other composite materials.

Dr. Tao Tang, Founder and General Manager of ChunjunHe stated, “Since the team was established in Singapore in early 2014, it has spent eight years successfully developing a variety of temperature-control solutions, accumulating hard-core technological expertise in medical cold-chain materials and ultra-micro thermoelectric semiconductors. Technologically, we have achieved import substitution for critical bottleneck technologies, with certain products being unique globally. From an industry perspective, the company focuses on the ‘dual carbon’ (carbon peaking and carbon neutrality) sector, responding to the national call to vigorously develop industries associated with dual carbon goals. Furthermore, our initial application scenario—medical cold chain—offers substantial market potential. In recent years, especially following the outbreak of the COVID-19 pandemic, there has been an urgent demand across various regions for the logistical stability and safety of vaccines and diagnostic reagents, which has, to some extent, driven the growth of the pharmaceutical cold-chain market.”

The lead investor in this round of financing is the investment fund under AVIC International Investment Co., Ltd. (hereinafter referred to as “AVIC Fund"), the companyMr. Song Bing, General ManagerIt is believed that to achieve the goals of “carbon peaking” and “carbon neutrality,” vigorous development and utilization of new energy sources, along with improved energy efficiency, have become crucial measures to address these challenges. Among these, phase change materials (PCMs), as green, environmentally friendly, and energy-saving materials, serve as key carriers for phase change energy storage technology. The successful application of Chunjun in pharmaceutical cold chain logistics has effectively reduced energy consumption, achieving high-efficiency energy savings.

Huagai Nanfang Zhao Yanyustated: “As an angel investor in Chunjun, we are delighted to see the blueprint we initially planned with the team gradually being realized. Chunjun not only possesses source-level R&D capabilities for temperature-control materials but, more importantly, leverages its keen insights into the market and products to efficiently integrate multidisciplinary technologies into commercial products. By continuously expanding commercial application scenarios and rapidly iterating and upgrading its offerings, Chunjun ultimately penetrates and captures the market through product superiority. This is a crucial strategy for startups and the reason why we are optimistic about Chunjun and committed to providing long-term support.”

Hu Qingping, Partner at Cowin Angel Fund“The company expressed its gratitude to both new and existing shareholders for their recognition and support of its business development. Although the founding team of Chunjun New Materials is young, it possesses a profound understanding of temperature control technologies in medical cold chain logistics and dual-carbon initiatives. Its composite phase-change material technology and semiconductor-based temperature control technology are at the forefront internationally. The Chunjun team has established a systematic temperature control technology platform, built an industry-leading production base for temperature-controlled solutions, and rapidly achieved scaled mass production. In addition to breakthroughs in medical cold chain solutions, Chunjun’s ongoing expansion into scenarios such as data center energy efficiency marks its trajectory toward becoming China’s premier green energy platform company based on advanced temperature control solutions. Tongchuang is honored to participate in this round of financing and will provide long-term support for the company’s industrialization efforts in the cold chain and dual-carbon sectors.”

In recent years, with the rapid development of emerging industries such as bioengineering in China, requirements for pharmaceutical cold chain logistics have become increasingly stringent, and demand has grown substantially. Particularly since the outbreak of the COVID-19 pandemic, demand for blood products, protein-based products, vaccines, and other items used in epidemic prevention has surged exponentially, further stimulating demand for the construction of pharmaceutical cold storage facilities and cold chain infrastructure from the consumer end.

“Research Report on China’s Pharmaceutical Cold Chain Logistics Industry 2021” shows that in 2020, the sales revenue of China’s pharmaceutical cold chain market reached RMB 390.34 billion, a year-on-year increase of 14.97%. In 2021, the market size of pharmaceutical cold chain grew by approximately 17% year on year.

Dr. Tang Tao, Founder and General Manager of Chunjun, told VCBeat that prior to 2016, cold chain-related technologies and policies in China were not particularly well-developed, yet both vaccines and diagnostic reagents required full-process temperature-controlled transportation. The 2016 “toxic vaccine” incident served as a turning point. The issue did not stem from vaccine manufacturers but rather from the lack of cold chain integrity during transportation. The “toxic vaccine” incident, coupled with the outbreak of the COVID-19 pandemic in 2020, significantly expanded the demand for transformation in cold chain technology.

Chunjun was established in July 2018 as a temperature-control technology platform company specializing in the medical cold chain sector. In April 2020, Chunjun’s first medical cold-chain container entered mass production and obtained GSP certification. That November, multiple models of its fourth-generation passive cold-chain containers received certification and went into mass production, delivering performance that surpassed international standards and filling a domestic gap. In April 2021, the company achieved a breakthrough in phase-change material technology for maintaining -70°C temperature control tailored to mRNA vaccines, and launched its -70°C COVID-19 vaccine container in China.

Dr. Tang Tao, Founder and General Manager of Chunjun, holds a Ph.D. in Materials Science from the National University of Singapore and served as a Senior Scientist at the Agency for Science, Technology and Research (A*STAR) in Singapore. With over nine years of experience in polymer material development, he has conducted in-depth research on material design and structure, and has mastered the complete R&D technology for temperature-controlled enclosures.

The company’s core team collaborates with multiple universities and research institutions in Singapore and China, holding numerous independent intellectual property rights in areas such as phase-change materials and cold-chain transportation products. Among these, proprietary technologies—including the R&D of high-performance, environmentally friendly composite phase-change materials, thermoelectric semiconductor refrigeration technology, and temperature-controlled outer casing design—are pioneering innovations both domestically and internationally. The company currently holds more than 30 patents, covering everything from material R&D to product appearance design.

According to Tang Tao, Chunjun has also partnered with two professors from the National High-Level Talent Program at Southern University of Science and Technology (SUSTech) and Northwestern Polytechnical University, establishing a joint laboratory with SUSTech to focus on advancing the development and iteration of next-generation temperature-controlled phase-change technology products.

Tang Tao stated, “Our original intention in starting the business was to address the market and technical demands in China for pharmaceutical cold chain logistics and dual-carbon policies. We aim to focus on dual-carbon platform technologies and solutions to support the nation’s energy conservation and emission reduction efforts. In the healthcare sector, we strive to provide the public with more reliable medical solutions, ensuring medication safety. Meanwhile, we also hope to help enterprises achieve genuine cost reduction and efficiency improvement through our services.”

Traditional pharmaceutical distribution models primarily rely on three approaches: dedicated refrigerated truck transport, combined land/air/rail transport with temperature-controlled containers, and scheduled refrigerated truck services. According to Tang Tao, traditional pharmaceutical distribution faces three major pain points. First, the high capital investment required for refrigerated trucks and temperature-controlled containers necessitates substantial equipment procurement to meet the diverse needs of different customers and varying shipment volumes. Second, end-to-end temperature monitoring is challenging, as it requires comprehensive control across the entire process—from outbound logistics, through transit, to final warehousing. Finally, operations are complex, demanding a high level of professionalism in both cold-chain equipment management and distribution procedures.

It is worth noting that,The Core of Pharmaceutical Cold Chain Logistics Is Not Entirely About “Cold,” But Rather Temperature Stability, meaning that temperature must be controlled within specific ranges (including deep-freeze, frozen, refrigerated, cool, and ambient temperature zones), as different products require different storage temperatures. Taking vaccines as an example, they require end-to-end cold chain transportation; any temperature deviation during transit may lead to vaccine inefficacy.

Tang Tao stated that the pharmaceutical cold chain is a specialized market with a significant unmet demand, requiring transportation methods that are both safer and more cost-effective.

In this context, Chunjun employs its self-developed high-performance cold-chain temperature-controlled transport boxes, integrated with low-latency, high-speed communication technologies such as cloud platforms, the Internet of Things (IoT), and databases, to deliverPrecision Temperature Control + Real-Time Monitoring: One-Stop Solution for Cold Chain Transportation, offering customizable, energy-efficient cold chain packaging services to pharmaceutical companies and third-party logistics providers across diverse scenarios and requirements.

Chunjun’s products are categorized by the size and material of their containers. The small-sized PU-VIP/PU integrated foam cold chain boxes and air-silica vaccine temperature-controlled boxes are suitable for small-batch, multi-shipment transportation of pharmaceutical products across multiple temperature ranges, offering convenient transport and reduced costs. Furthermore,Application of -75°C to +25°C phase-change energy storage materials enables long-term, passive, and precise temperature control.

Customizable Dimensions for Large Cold-Chain Pallet Containers: Suitable for Multi-Temperature Insulation of Bulky Pharmaceuticals, Mainline Logistics Transport, and Large-Scale Cross-Border Shipping. Featuring Snap-Fit Assembly and an Aluminum Alloy Shell for High Strength. No Pre-Cooling Required; Maintains Temperature Control for Over 140 Hours Across Various Transport Environments.

“Our product is an IoT-enabled temperature-controlled device that enables precise, end-to-end temperature management for pharmaceuticals from mainline to last-mile distribution—without the need for refrigerated trucks or external power sources. Transit times can range from three days to several tens of days,” said Tang Tao.

According to Tang Tao, the company’s current technology is divided into two main areas. The first is fourth-generation temperature control technology, namely passive temperature control, which is based on two core elements: First, phase-change materials from Chunjun’s self-developed material system, enabling China’s first passive temperature-controlled container to achieve precise temperature control at -70°C. Second, the container’s insulation process employs vacuum insulation panels, ensuring a slim profile while delivering superior thermal insulation performance.

Second, Chunjun possesses independent intellectual property rights for its molds and box molding processes, enabling it to meet the diverse needs of different pharmaceutical companies or third-party logistics providers regarding various box structures.

Leveraging the technology of its fourth-generation mature products, Chunjun has established partnerships with numerous renowned pharmaceutical manufacturers and commercial companies, including Hualan Biological Engineering, Sinopharm Group, and China Resources Pharmaceutical Commercial.

In April last year,Chunjun Achieves Major Breakthrough in -70°C Temperature-Controlled Phase-Change Technology for mRNA, and Launches -70°C COVID-19 Vaccine Boxes in China.“This is our fifth-generation product, which integrates the fourth-generation design with semiconductor technology. The final product enables plug-free temperature regulation, maintains thermal stability for 3–5 days, and eliminates the need to replace the internal cold-storage material, thereby significantly enhancing logistics companies’ operational efficiency,” said Tang Tao.

“Currently, we are collaborating with Sinopharm to provide this product. For instance, the PD-1 anticancer drugs, which are currently very popular in China, typically involve small-volume, multi-batch deliveries to multiple locations, as Sinopharm’s wholesale clients include hospitals across the country. Using traditional cold-chain trucks for transportation would incur prohibitively high costs. Meanwhile, the dry ice plus foam box model suffers from imprecise temperature control and insufficient insulation duration. Our solution significantly enhances distribution efficiency, enabling rapid delivery of vaccines to end customers after production, while simultaneously reducing transportation costs.”

Tang Tao stated that with the development of mRNA technology, many non-traditional inactivated protein vaccines will be realized using mRNA technology in the future, and mRNA vaccines require ultra-low temperature services. In addition, human organs and corresponding biological tissues also need ultra-low temperature conditions for storage and transportation. In the future, this technology can serve organs and biological tissues beyond vaccines, with broad application scenarios.

Centered on the fifth-generation, globally unique temperature-controlled box technology, Chunjun has also builtAn integrated pharmaceutical cold chain solution platform, offering various value-added services based on leasing around the outbreak sites of COVID-19.

Chunjun offers a large inventory of proprietary shipping containers, a comprehensive product series, an extensive distribution network, rapid dispatch, and high professional expertise. Furthermore, the containers are designed for multiple reuse cycles. Once vaccines are delivered to hospitals, carriers consolidate and return the containers to warehouses, where they are processed and prepared for the subsequent transport of vaccines and pharmaceuticals.Offering high flexibility and cost-effectiveness, it can be rapidly deployed to facilitate the nationwide and global distribution of COVID-19 vaccines.。

Chunjun’s vision is to become a world-class temperature control solutions platform, providing efficient thermal management services for the pharmaceutical industry, data centers, and other sectors, thereby offering critical support for socioeconomic growth and public health.

“In the future, with the continuous advancement of domestic technologies and rising living standards, there will be greater demand for medical technologies, new materials, and semiconductor technologies. We hope to leverage our materials technology to provide higher-value products and services across various industries,” said Tang Tao.