Qitan Tech, a nanopore gene sequencer maker based in Chengdu, has reportedly raised RMB 700 million (USD 100 million) in a Series C financing round led by Meituan. Other investors included Huagai Capital and BioTrack Capital. The proceeds will be used to ramp up the product matrix, the launch of a medium and high-throughput sequencing platform, application scenarios, and market development.
Company Background and Achievements
Founded in 2016, Qitan Tech describes itself as the first domestic firm to develop and commercialize a nanopore gene sequencer. The company boasts commercialized nanopore gene sequencers QNome-3841 and its upgraded version QNome-3841hex. Qitan Tech has established a manufacturing base in Chengdu, capable of producing 2,000 sequencers annually. This manufacturing capability positions Qitan Tech to meet growing market demand for advanced gene sequencing solutions.
Future Prospects and Strategic Use of Funds
The Series C financing round positions Qitan Tech to further enhance its product offerings and expand its market presence. By investing in the development of a medium and high-throughput sequencing platform, Qitan Tech aims to address significant unmet needs in the field of genomics, improving accessibility and efficiency in gene sequencing. This strategic move underscores Qitan Tech’s commitment to innovation and leadership in the nanopore gene sequencing market.-Fineline Info & Tech
