On June 8, Qitan Tech, invested by a direct investment fund under ZGC Collaborative Innovation, announced its B round financing had raked in 400 million yuan.

The investment was co-led by HillHouse VC and CDH VGC (an innovation and growth fund), followed by Biotrack Capital, Huagai Capital and Riverhead Capital. And its old shareholders, like Gaorong Capital, ZGC Collaborative Innovation Fund, Yinxinggu Capital and Alwin Capital Management continued to increases their investments.

Qitan Tech’s nanopore gene sequencer, the first fully self-developed device of the kind in China, is scheduled for mass production within this year. By then, the company will become the only one in China and the second across the world to put the fourth-generation gene sequencing technique into commercial use, thus breaking foreign monopoly on the core technique of gene sequencing.

ZGC Collaborative Innovation’s direct investment sub-fund led the pre-A round of financing of Qitan Tech, and made several additional investments in the subsequent financing. At the same time, it also empowers Qitan Tech in its innovation and development, helping its growth.