HuKui Bio closes a $5.5 M Series C, planing to expand the market share on western countries’ biotech market.

HuKui Bio, a Medtech consulting company founded by John Hsuan, a veteran of semiconductor industry, recently raised a Series C round investment of about $5.5 million to start doing business in the U.S. and Europe.

Founded in 2013, HuKui Bio’s initial mission was to help Taiwanese Medical Devices Manufacturers to comply with the local regulation for selling products to China market. Nowadays, HuKui has expanded its services to clinical trials, prototype development, OEM/ODM, and distribution channel. They are aiming to become a one-stop service platform for Asia and the world.

The $5.5 million raise led by Chaico Investment Corporation brings the cash influx and the U.S. and European strategy partners to accelerate HuKui setting foot into the Western market.

To strengthen the U.S. market shares, HuKui recruited Dr. IC Jan, now serve as mentor at 500 Startups, and SkyDeck, as their chief strategy officer. "Everyone knows that people started working remotely in 2020. The doctor starts to take care of patients remotely too. Combined with cloud computing, artificial intelligence, and the internet of things, the biomedicine industry will be the next fastest-growing sector," Dr. IC Jan said that excitedly.

Covid-19 brings big opportunities to HuKui Bio

“On one hand, the US-China trade war since 2019 and Covid-19 pandemic bring lots of challenges to our business. On the other hand, it also brings us the chance to upgrading and transformation,” HuKui Bio CEO Jia-Yong Guo said.

Due to the US-China trade war and Covid-19, it became hard to export medical devices from China to the U.S. As a result, it severely affects HuKui’s business. Luckily, the needs for testing kits also come with the pandemic. With profound experience in applying for the medical device manufacturing license, HuKui quickly became the selling agent for U.S. diagnostic kits manufacturer Co-Dianostics Inc.

With strong testing needs in Europe, Southeast Asia, and South America, HuKui started providing testing kits to these areas and gain tremendous success. In the end, HuKui moved against the tide and experienced 77% YoY growth sales.

HuKui's core team members and original shareholders include experts from biomedicine, information technology, and semiconductor arena. “With strong domain knowledge from technology and biomedicine areas, HuKui will keep cooperating with partners and concentrate on building the one-stop platform that combines license application, CDMO, matching resources, and marketing consulting,” Jia-Yong Guo said.

〔Original :Meet Startup @ TW〕
https://meet-global.bnext.com.tw/articles/view/47298