- Companies
- Virtue Diagnostics
Virtue Diagnostics Funding, Investors & Competitors
Virtue Diagnostics has raised $130M across 2 funding rounds, most recently a $100M Series B in January 2022.
Last Virtue Diagnostics funding round
$100M
Series B · Jan 2022
Cumulative funding Virtue Diagnostics raised
$130M
across 2 funding rounds
Key investors in Virtue Diagnostics
Lilly Asia Ventures
HSG
Morningside
Oriza Holdings
PerkinElmer
PKI Ventures
About Virtue Diagnostics
Virtue Diagnostics is a Shenzhen-headquartered in vitro diagnostics company developing point-of-care tests for infectious diseases, cancer biomarkers, and chronic conditions like diabetes. Its product portfolio includes rapid antigen tests for respiratory pathogens, molecular assays for tumor markers, and immunoassay kits for cardiovascular risks. Established in 2014, the firm distributes its CLIA-waived devices across Asia-Pacific markets through partnerships with hospitals and clinics.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Virtue Diagnostics Funding History
Virtue Diagnostics has raised a total of $130M across 2 funding rounds.
Virtue Diagnostics' first fundraising round was a $30M Series A in December 2020. The most recent completed round was a $100M Series B in January 2022.
Virtue Diagnostics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2022 | Series B | HSG (lead); Morningside (lead); Lilly Asia Ventures; Oriza Holdings; PerkinElmer | $100M | Virtue Diagnostics raised $100 million in a Series B funding round on January 6, 2022. Sequoia China and Morningside Ventures jointly led the investment. |
| Dec 2020 | Series A | PKI Ventures; Lilly Asia Ventures | $30M | Virtue Diagnostics (Suzhou) Co., Ltd., a Chinese in vitro diagnostics (IVD) company, raised approximately $30 million in a funding round around December 17, 2020, from investors including PerkinElmer Inc. (NYSE: PKI, also referred to as PKI Ventures) and Lilly Asia Ventures. Virtue Diagnostics, founded in 2019, develops platform-based IVD for affordable clinical solutions across disease stages, with headquarters in Singapore, manufacturing in Suzhou, China, and CRO/clinical labs in Beijing, targeting China and emerging markets. A later Series B round of $100 million was closed in January 2022, led by Sequoia China and Morningside Ventures, with participation from existing investors Lilly Asia Ventures and PerkinElmer Ventures, plus ORIZA Holdings. Investors highlighted the team's global experience and potential for leadership in China's IVD industry post-import substitution. |
Who has invested in Virtue Diagnostics?
6 investors have backed Virtue Diagnostics across its funding rounds, including Lilly Asia Ventures, HSG, Morningside, Oriza Holdings, PerkinElmer and PKI Ventures.
Lead investors include HSG and Morningside.
Virtue Diagnostics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
This data is available for Pro users. Sign up to see all 6 Virtue Diagnostics investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialVirtue Diagnostics Competitors
Virtue Diagnostics competitors include listed companies like Roche, Natera, Illumina and Guardant Health, and private ones like Institut Merieux and Color.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $77B | $26B | $351B | 4.9x | ||
| Publicly listed | $2.3B | ($266M) | $53B | 19.0x | ||
| Publicly listed | $4.3B | $1.4B | $37B | 8.4x | ||
| Publicly listed | $982M | ($408M) | $25B | 20.2x | ||
| Private | - | - | $8.5B | - | ||
| Private | - | - | $4.6B | - |
Virtue Diagnostics Public Comps
Virtue Diagnostics is still privately-owned, but its public comps include Roche, Natera, Illumina, Guardant Health, Twist Bioscience, 10x Genomics, BillionToOne, Wantai BioPharm, Celcuity and GRAIL.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $2.3B | ($266M) | 22.5x | 19.0x | (195.0x) | (261.5x) | |||
| $4.3B | $1.4B | 8.8x | 8.4x | 27.1x | 30.0x | |||
| $982M | ($408M) | 25.7x | 20.2x | (61.8x) | (129.5x) | |||
| $377M | ($63M) | 27.2x | 22.6x | (161.4x) | (316.8x) | |||
| $643M | ($16M) | 14.9x | 15.2x | (591.7x) | (160.9x) | |||
| $305M | $12M | 15.8x | 11.7x | 401.1x | 75.4x | |||
| $271M | ($24M) | 15.5x | - | (174.0x) | - | |||
This data is available for Pro users. Sign up to see all Virtue Diagnostics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Virtue Diagnostics
| When was Virtue Diagnostics founded? | Virtue Diagnostics was founded in 2019. |
| Where is Virtue Diagnostics headquartered? | Virtue Diagnostics is headquartered in Shanghai, China. |
| Is Virtue Diagnostics publicly listed? | No, Virtue Diagnostics is a private, VC-backed company. |
| How much funding has Virtue Diagnostics raised? | Virtue Diagnostics has raised $130M across 2 funding rounds. |
| What was Virtue Diagnostics' last funding round? | Virtue Diagnostics' last funding round was a $100M Series B in January 2022, led by HSG and Morningside. |
| Who are Virtue Diagnostics' investors? | Virtue Diagnostics' investors include Lilly Asia Ventures, PKI Ventures, Morningside, Oriza Holdings, PerkinElmer and HSG. |
| Which companies are comparable to Virtue Diagnostics? | Companies comparable to Virtue Diagnostics include Roche, Natera, Illumina, Guardant Health, Institut Merieux and Color. |
See companies similar to Virtue Diagnostics
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




