- Prosperity7 Ventures, a $1 billion growth-stage fund of Saudi energy and petrochemical enterprise Aramco, has led a $14 million series B funding round for China-based femtech company Cispoly.
- The round also saw participation from existing investor Sunland Fund.
- Founded in 2020 by Liu Pei, Cispoly develops methylation detection tools for early-stage gynecological tumors as well as reproductive microbiota testing.
- Cispoly will use the funds to improve R&D efforts and expedite global expansion.
- This is the fund’s second investment in a Chinese healthcare company after Fourier Intelligence, which produces exoskeleton robotics products for physical rehabilitation.
Source: Tech in Asia
The Asian startup scene has seen a recent boom in investments from the Middle East. Cispoly, a China-based producer of gynecological tumor detection equipment, is one of them.
The startup has raised over 100 million yuan (US$14 million) in series B funding. Prosperity7 Ventures, the diversified growth fund of Saudi Arabian energy giant Aramco, led the round, with participation from existing investor Sunland Fund.
Established in 2020 by Liu Pei, Cispoly develops methylation detection tools for early-stage gynecological tumors – including cervical cancer, ovarian cancer, and endometrial cancer – as well as products for women’s reproductive microbiota testing.
Ciscer, Cispoly’s flagship product for real-time cervical cancer detection, was approved by China’s National Medical Products Administration in March, the company said. Upcoming products include Cisendo, an endometrial cancer screening solution – currently in clinical trials – and Cisova, which detects methylation for ovarian cancer diagnosis and is nearing clinical testing.
Cispoly will use the series B funds for R&D and global expansion, and to expedite product registrations. The startup has recently started research projects in China, with plans to expand into Southeast Asia and Europe through partnerships with medical institutions.
This isn’t Prosperity7 Ventures’ first investment in a Chinese healthtech startup. It has previously backed Fourier Intelligence, which makes exoskeleton robotics products for rehab exercise, in its series C and D rounds.
The fund’s other investments include a US$28.7 million series B round in China’s Jiandanxinli and US$35 million in Hong Kong’s Insilico Medicine last year.