China Digest: Genebox raises $14m; Matrix backs Chinese-style bakery brand

Funding Rounds

▤ Summary

Chinese digital health platform Genebox and Chinese-style bakery brand Manman Yuanqi have secured early-stage funding to expand their operations in the country. Genebox, founded in April 2018, operates as a digital health platform that offers personal genetic information services to customers in China. The company, with nearly 60 employees, aims to become profitable by the end of 2019, said Daniel Li Zhi, founder and CEO of Genebox, in an exclusive interview with DealStreetAsia on Wednesday. Matrix Partners China has poured $3 million in a Series A round of financing in Manman Yuanqi, a Chinese-style bakery brand specialized in making date cake. Manman Yuanqi, which literally means ‘filled with vitality’ in Chinese, was founded in 2017 to deliver Chinese-style bread and tea through an online platform and 40 brick-and-mortar stores in shopping malls and boutique supermarkets across Beijing and Shanghai.

$ Funding

$
Amount $14.0M Total raised
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Date October 9, 2019 Announcement date
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Investors - Lead investors
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Company http://genebox.cn/#/ Funded company

▥ Classifications

industries
No industries detected
applications
Collaboration & Communication

◇ AskAI Classifications

Labels
Software Communication Software SaaS

▦ Linked Companies

Matrix.org
$1M to $5M