China’s Black Lake raises $77M to give factories a digital upgrade
Zhou Yuxiang doesn’t have the typical profile for working in China’s manufacturing world. A soft-spoken yet incisive person in his early thirties, Zhou graduated from Dartmouth College with a degree in government and went on to work in investment banking in Hong Kong, following the path of many Chinese overseas returnees.
But a few years into his career, Zhou realized he wanted to build his own business. This was around 2015, a time when China was consumed by a startup craze amid Premier Li Keqiang’s campaign for “mass entrepreneurship and innovation.” Rather than going into the sleek world of consumer lifestyle, fintech or AI, Zhou picked manufacturing as a starting point.
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China Digest: FountainVest leads funding in medical firm Broncus; BAI backs Nelo
January 29, 2021
Medical firm Broncus has raised “tens of millions of US dollars” in a Series D round led by FountainVest Partners, while food brand Nelo has secured “millions of US dollars” in a Series A round from IDG Capital and BAI.
FountainVest leads Series D round in Broncus
Broncus, a medical firm that creates solutions for the treatment of lung diseases, said on Thursday that it has pocketed “tens of millions of US dollars” in a Series D round of financing led by FountainVest Partners, a PE firm that targets consumer, media and technology, healthcare, industrials, and financial services.