DK MedTech Snags ￥100M in Series B+ Financing Round
According to lieyunwang.com, balloon catheters provider DK MedTech recently announced the completion of Series B financing of nearly 100 million yuan after the RMB60 million Series B round in 2018. The latest round was jointly led by Jinbang Capital and China Growth Capital, with participation from the existing shareholder Qiming Venture Capital.
Weng Yulin, founder and CEO of DK MedTech, said that the funds raised will be used for the construction of a large sales team, market promotion of products already on the market, and follow-up research and development of new products.
Founded in July 2015, DK MedTech is a developer of vascular intervention treatment products designed to improve treatments administered by healthcare professionals. The company specializes in the research and development of cardiovascular treatments. Focusing on balloon catheters, a segment with a low domestic market share, it has developed more than 10 kinds of products, including ordinary balloon, high-pressure balloon catheter, scoring balloon catheter and drug-coated balloon.
The product line of DK MedTech covers almost all scenarios in vascular intervention, including cardiovascular intervention, peripheral intervention, and neural intervention. After four years of development, DK MedTech has obtained three certificates of registration for class III medical devices. The company is conducting clinical trials and registrations for four core products and has a number of innovative products under development. With its rich product line, DK MedTech has become a rising star among domestic enterprises of balloon catheters.
About Jinbang Capital (JBC)
JBC is a comprehensive asset management institution. The company has invested more than 50 enterprises, with AUM of nearly 10 billion RMB, a number of which have been listed successfully at home and abroad, creating good returns for investors.
JBC is headquartered in Shanghai, with branches in Beijing, Qingdao, Nanjing and other places.
About China Growth Capital (CGC)
CGC is a China-focused seed and early venture investor since 2006. The firm funds seed to Series B in enterprise software and services, frontier technologies, marketplace, and consumer sectors. The typical investment size ranges from $1M to 5M with a hard cap ceiling at $15M per company. CGC manages 8 Billion RMB (approximately $1.2 billion) across its different RMB and USD funds.