Qitan Technology secures RMB100m financing led by Gaorong Capital

On May 13, Qitan Technology, the leading Chinese nanopore gene sequencing company, announced that it has completed a Series A financing round raising more than 100 million yuan. The round was led by Gaorong Capital, with participation from YinxingguCapital, and existing investors namely Alwin Capital.

On May 13, Qitan Technology, the leading Chinese nanopore gene sequencing company, announced that it has completed a Series A financing round raising more than 100 million yuan. The round was led by Gaorong Capital, with participation from YinxingguCapital, and existing investors namely Alwin Capital.

Proceeds from this round of financing will mainly be used to increase investment in technology research and development, improve the accuracy and stability of its core products, and in the meantime accelerate the construction and commercial development of its production lines, leading the development and application of the nanopore gene sequencing technology in China.

Qitan Technology was established in 2016, focusing on the independent R&D, manufacturing and application of nanopore gene sequencers and supporting reagents to meet the growing demand for gene sequencing in the life and health sector. The founding team of QitanTechnology said that as a nanopore gene sequencing company based on China with proprietary technologies, the vision of the company is to let gene sequencing technology enter thousands of households and provide cost-effective gene sequencing solutions for the citizens.

After several iterations, the nanopore gene sequencer of Qitan Technology has entered the sprint stage of prototyping. At present, the throughput, accuracy and stability of the prototype product are constantly improving, and it is expected that the first product will be finalized and produced in small batches in 2020.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/15/qitan-technology-secures-rmb100m-financing-led-by-gaorong-capital/.

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