Guosheng Technology, also known as Guosheng Biomats or GS Biomats, has secured 200 million yuan ($27.7 million) in a Series A+ round co-led by Goldstone Investment, which is affiliated with Chinese securities firm CITIC Securities.
The Hangzhou-based firm, which produces bio-based furan new materials, has roped in several local investment firms as its participating investors including Yunhui Capital, and Hangzhou Capital, according to a company release on March 5.
Existing backers, Legend Capital (affiliated with Legend Holdings), 5Y Capital, and Hangzhou Yuhang State-owned Capital Investment Operation Group, have re-upped in the round.
Bio-based furan new material has risen to be a chemical building block in materials design and synthesis. The emergence of such building blocks rides on the industry momentum of preparing new chemicals and materials using renewable resources.
Founded in 2021, the firm is into the research and industrialization of biomass catalytic conversion, furan material design, and chemical production, according to its company website, with factories across Lishui, a city in China’s Zhejiang province, and Taixing in Jiangsu province.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from March 3 – 9, 2025.
