Singleron Biotechnologies, a Chinese start-up developing high-throughput single-cell multiomics platform products, announced the successful completion of $30 million Series A financing. Lilly Asia Ventures (LAV) led the investment. Other new investors include CDH Investments, ARCH Venture Partners, Tencent, and China Reform Conson Soochow Overseas Fund I L.P. (managed by CDG Capital). Existing investors Sherpa Healthcare Partners and China Growth Capital also participated in this funding round.
Founded in 2018, Singleron has dedicated to applying groundbreaking single cell analysis technologies to clinical diagnosis, drug development and health management. The company currently has offices and laboratories in Nanjing, Suzhou, US and Germany. Singleron will invest the proceeds to further develop single-cell platform products and their clinical applications, to accelerate the commercialization of its proprietary technologies, and to ramp up its international presence.
This A round is Singleron's third round of financing after the seed round and Pre-A round led by Oriza Seed and Sherpa Healthcare Partners in 2018 and 2019, respectively. To date the total funding received by Singleron has exceeded 300 million yuan.