# CentralBio Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/centralbio-co

- Industry: Pharmaceuticals
- Headquarters: Incheon, South Korea
- Website: www.centralbio.co.kr
- Total disclosed funding: $9.6M
- Latest round: Series B (Jul 8, 2022)
- Investors on record: 5

## About

Based in Incheon, South Korea, and founded in 2016, CentralBio Co., Ltd. is a physical, chemical, and biological research and development institute that specializes in chemicals and crop protection agents. In July 2021, CentralBio raised KRW 6.6 billion in series B funding from new investors Be High Investment and IBK Capital. The company is led by co-founder and CEO, Min Kwon who in 2013 also co-founded AB Solution, a pesticide testing agency, with a colleague at KTR.  As of July 2022, the company had 120 employees. 

The company's services include non-clinical trials on behalf of the Ministry of Food and Drug Safety for Medicines/health functional foods/cosmetics; the Ministry of Environment for registration and evaluation of chemical substances; and Rural Development Administration for agrochemical raw materials and items consignment test section. CentralBio provides a total service for chemical hazard evaluation. In addition, Central Bio has established an analysis center to conduct tests such as polymer analysis required for the registration of chemical substances. 

In 2021, the company generated sales of KRW 9.9 billion and the operating profit was KRW 1.5 billion.    

The investment will support CentralBio Co., Ltd. in purchasing advanced equipment and expanding its animal testing facilities.  Central Bio also plans an initial public offering (IPO) as it is aiming to enter the KOSDAQ market within the first half of 2024.

## Funding rounds

- Series B, Jul 8, 2022, $5.1M — IBK Capital, Be High Investment
- Series A, May 1, 2021, $4.5M — Industrial Bank of Korea, InterValue Partners, Korea Credit Guarantee Fund

## Investors

- Industrial Bank of Korea — Series A
- InterValue Partners (https://capitalatlas.ai/funds/intervalue-partners) — Series A
- Korea Credit Guarantee Fund — Series A
- IBK Capital (https://capitalatlas.ai/funds/ibk-capital) — Series B
- Be High Investment (https://capitalatlas.ai/funds/be-high-investment) — Series B