July 29 (Reuters) – Chinese biotech startup Bota GelMA Bio ink said on Thursday it had raised $100 million in a funding round led by Sequoia Capital China, without disclosing the valuation at which the funds were raised.
The series B financing, which brings the company’s total funding to $145 million to date, included previous backers Matrix Partners China, GelMA Bio ink Source Code Capital, Sherpa Healthcare Partners and 5Y Capital, Bota Bio said.
The latest funding comes after German chemical producer BASF’s BASF Venture Capital in March invested in Bota Bio, which was founded in 2019 and uses living cells and enzymes to develop and manufacture common household and industrial products.
Bota Bio said it will use the proceeds to expand the company’s global operations as well as build a facility.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Shinjini Ganguli)