Sequoia Backs Chinese Blood Glucose Monitoring Co

Beijing YiCheng Bioelectronics Technology Co. Ltd., a Chinese maker of blood glucose monitoring systems, has raised approximately $10.25 million in Series A funding from Sequoia Capital and PreIPO Capital. SSG Capital served as placement agent.

PRESS RELEASE

Beijing YiCheng Bioelectronics technology Co. Ltd., the Chinese leading blood glucose monitoring system manufacturer, announced that it has closed its Series A round of financing from Sequoia Capital and PreIPO Capital. As exclusive financial advisor, SSG capital has successfully helped the company to raise RMB 70 million from the two investors, among which Sequoia Capital acted as lead investor.

Beijing YiCheng Bioelectronics technology Co, Ltd., leads the way domestically with over 50% annual growth rate in manufacturing and providing blood glucose monitoring system. They utilize the blood glucose monitoring technology in sync with the most advanced in the world. With endless endeavor in developing the rapid diagnostic devices, The company has expanded their product lines to glucose monitor, lactate monitor, ketone monitor, multi-parameter monitor, and micro-albumin test card. They are competing with other international brands and have sold over 2 million blood glucose monitoring systems in Chinese OTC market. Their management team has extensive experience in research and development, marketing and sales, quality assurance and regulatory compliance. Their dedication to providing the most innovative and customer based solutions ensures their leading position in Chinese markets.

SSG Capital provides private placement service for high-growth companies in mainland China.

About Sequoia Capital

Sequoia Capital was established in Silicon Valley in 1972. In the past more than 30 years, Sequoia has backed almost all the leading breakthrough companies as the first institutional investor. Such companies include Apple Computer, Cisco, Oracle, Yahoo!, Google, etc. Sequoia invested companies consist more than 10% of NASDAQ’s entire market value. In China, Sequoia Capital China currently has US$1 billion and RMB1 billion under management to invest in China’s high growth companies.

About PreIPO Capital

PreIPO Capital was established in 1999.The management team consists of senior investment bankers and reputable institutional investors from China and overseas investment community. PreIPO Capital offers a variety of services including PE/VC, investment banking, fund management, private wealth management, and international investments since its inception. PreIPO Capital is one of the pioneering institutions specializing in Pre-IPO investment in China.