Sequoia-backed Insight Lifetech Co. Ltd bags almost US$28M and more updates

by Felicia Calle

Shenzhen-based medical devices developer Insight Lifetech Co. Ltd. has garnered nearly US$28 million (200 million yuan) in Series B+ round of financing that was led by SDIC. This investment arm is owned by China SDIC Gaoxin Industrial Investment Corp. Ltd.

Other investors that participated in this funding round include Green Pine Capital Partners (also Shenzhen-based), Efung Capital, and Lotus Lake Capital, a Tsinghua University incubator project. An announcement on Tuesday also stated that Sherpa Venture Partner and existing investor Sequoia Capital China participated in the funding.

Dr. Liang Song, the co-founder of Insight Lifetech Co. Ltd, stated that the company develops medical devices for diagnosis and therapy that primarily cater to coronary diseases. It has currently set up pipelines to accelerate research.

Insight has a GMP facility and an R&D center. The Chinese government has also listed its product on Intravenous Ultrasound (IVUS) on the innovative medical device project.

Insight had earlier closed a US$14 million (100 million yuan) in its Series B funding round that came from Sherpa Venture Partners and Sequoia Capital China in 2018.  Insight has also previously raised funding from SiBionics, Decheng Capital and TigerYeah Capital.

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