Beijing Megarobo Technologies Co., Ltd. (“Megarobo” or the “Company”) has recently completed a USD 30 million Series B financing round. This round of financing was led by Sinovation Ventures. Followers in the round included Liando Investment and existing shareholders Joy Capital and Robert Bosch Venture Capital. CEC Capital Group acted as the exclusive financial advisor of Megarobo in this transaction.
Proceeds from this round will primarily be used to expand Megarobo’s core business, R&D efforts, the Company’s laboratory facilities, and to continue to build up the Company’s core capabilities in the field of life science automation.
Founded in 2016, Beijing Megarobo Technologies Co., Ltd. started with the R&D of robotic automation technologies in life science applications. The Company provides automation solutions for new drug research and development, genetic engineering, clinical diagnosis and other fields. Their platform aims to increase both the efficiency of R&D and the productivity of production for customers in the biotechnology industry.
Presently, Megarobo serves nearly a hundred well-known life science companies, and has delivered dozens of automated systems for diagnosis and production, helping customers achieve significant improvements in the areas of human efficiency and productivity. In some fields, Megarobo’s automated systems have helped customers increase their throughput by up to 100x, via an entirely transparent, traceable process in line with all regulatory requirements. For example, during the COVID-19 pandemic, the throughput of the Company’s automated nucleic acid detection workstation modules was nearly 20 times faster than manual operation, helping increase virus detection capabilities while reducing the risk of infection for front-line workers.
In addition to inspection automation workstations, Megarobo also has many standard products for life science automation. For example, the Company’s automatic reagent production filling and dispensing systems greatly improve the throughput for molecular diagnostic reagent production. The system can handle up to 900 ep tubes per hour, with an average processing time of just 4 seconds, helping improve production capacity and product quality and reducing labor costs for its customers.
In the past year, Megarobo has independently developed an industry-leading fully automated mammalian cell culture and phenotyping platform, gene editing platform, and high-throughput drug screening platform. Across all of these platforms, the Company has served dozens of the industry’s top healthcare companies.
Megarobo has completed five rounds of financing in four years. The management team received RMB 5 million in seed round financing when it was first established in June 2016. In October 2017, it received RMB 10 million in angel round financing. In June 2018, it received USD 10 million in Series A financing, and in June 2019, it completed its Series A+ round of financing.
About CEC Capital Group
Founded in 2000, CEC Capital Group is one of China’s leading investment banks, focusing on three major industries including global TMT, consumer and healthcare. In addition to its investment banking practice, CEC Capital Group manages both an RMB fund and a USD fund. The company is headquartered in Beijing, with offices in Shanghai. Its US affiliate, China eCapital Partners, LLC, has offices in Los Angeles and San Francisco.
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