Legend Capital and OrbiMed Asia Partners join consortium investing $10m in Bonovo Orthopedics.
US and China-based medical device maker Bonovo Orthopedics has raised $10m in its series C round with Legend Capital, the corporate venturing unit of China-based technology company Legend, joining the consortium as a new investor.
Venture capital firm OrbiMed Asia Partners led the C round as another new investor, which included Bonovo’s previous investors.
Bonovo has raised $16.5m in total since 2008 when it was formed through the merger of three China-based companies with over 15 years of experience in manufacturing and sales of orthopedic products.
Peter Slate, US-based chief executive of Bonovo, said: "OrbiMed and Legend have brought a wealth of global resources to Bonovo. We will benefit from their deep understanding of the healthcare market and strong China experience."
