China Funding Flow: Overseas VCs interest rises in Chinese startups

India

After years of economic protectionism, China is gradually opening up for multinational companies, foreign private investors and international private equity investment funds.

The industry experts believe that the country is moving forward to maintaining a focus on economic development and unleash the potential for innovation growth.

The rise of foreign investments in Chinese tech startups vindicates the experts’ opinion on the changing Chinese investment ecosystem. Last week, some non-Chinese investors such as Bertelsmann Asia Investments, Sequoia Capital, Banyan Capital, SAIF partners and atlas capital invested in different Chinese tech startups.

Besides, in the same week, the Chinese startup ecosystem witnessed 44 investment deals of worth $1.26 billion in total.

Below is the brief of the funded startups:

Automotive

Chinese auto insurance search engine startup Cheche365.com raised $30 million in series B from China Capital Group Ltd, Shunwei Capital and CBC Capital also participated in the round.

online-to-offline auto after service platform, Huibaoche.com got $39 million in series A+ round although the investors remained undisclosed.

Also Read: China Funding Flow: Fintech startups are shining stars

Ds.cn raised $83 million in a strategic financing round from Guangzhou Automobile Group with participation from Urtrust Insurance platform offers facilities for new and used car selling and auto insurance.

Data service provider 

Longmao Data raised $5 million from GSR Ventures with participation by Unity Ventures and Buhuo Ventures.

Qimingpian got $7.5 million in series A round from Morningside Venture Capital, Taoshi Capital, and Chuxin Capital.

Beijing-based cloud computing services provider Alauda has raised $15 million series B round from Tencent Holdings which also saw participation from Banyan Capital and CBC Capital.

Sports

Football competition management platform, Cikers Sports raised $7.6 million in series A+ round from Innoangel Fund with participation from Chenhai Capital, Zhen Fund and Fenghou Capital.

Chinese tennis sports platform, lovesports.com got $1.48 million series A round from Zero2ipo Ventures and Chenshan Capital. It provides tennis events and venues management, tennis training, information collection services for tennis lovers.

Beijing-based Fast4ward raised $1.48 million series A+ funding round from Fenghou Capital with participation by N5 Capital.

Healthtech:

Annoroad got $100 million series C funding from Shenzhen GTJA Investment Group and Ping An Ventures which also witnessed participation from SAIF Partners and SBCVC. Its business includes molecular diagnostic reagents, medical analysis, medical research, gene big data and cloud platform.

Chinese fitness training mobile app, Fithub closed $15 million Strategic financing round led by Hosa International Limited. It offers users fitness training guidance videos, customized online fitness courses, real-time guidance and fitness knowledge.

Sanbo Brain Hospital, Beijing-based chain hospital company raised $14.8 million in strategic financing round from Kaitai Capital.

Shanghai-based medical diagnostic service provider, COBIO got $1.48 million from Fenyi Capital. it focusses on innovation and promotion of smart medical products and services.

AnchorDX Corp. raised $28 million series B round co-led by 6 Dimensions Capital and Sijia Jianxin Fund. It also saw participation from Arch Venture Partners, Marathon Venture Partner, WuXi AppTec Group, KingMed Diagnostics.

EOC Pharma raised $32 million series B round from Taikang Investment with participation by H&Q Asia Pacific and Sequoia Capital China.

Edtech

SmartStudy.com received $30 million series B+ round from Cash Capital, it helps students with language exams including TOEFL and IELTS.

Yixue Education received $41 million angel round from SIG, Cash Capital, New Oriental Education and Technology Group Inc., Greenwood Investment. It’s a K12 online education company, targeting secondary school students.

Also Read: China Funding Flow: TMT sector witnesses downfall in last nine months

Shenzhen-based Alilo raised $15 million series A round from Fosun RZ Capital. Its main products include an early education toy, which is designed for toddler with pre-loaded popular nursery rhymes, bedtime stories, and lullabies.

MyOffer got $1.48 million series A+ funding round from Lianhe Capital and Enjoyor Co., Ltd. It provides information on over one million courses available at universities around the world.

Logistics:

Pinpianyi, Hangzhou-based start-up received $4.8 million series pre-A investment from Guanghe Venture Capital. it is a smart procurement platform for convenience stores, helping them minimize procurement cost and logistics cost.

Parcel collection agency, Ulandian.com raised $3 million series A round from SIG.

Checkout-free convenience stores

Xingbianli has raised $57 million in series A funding round led by Sequoia Capital China, which also saw participation from China Renaissance Group, Vision Plus Capital, Lightspeed China Partners. They deal in both checkout-free convenience stores and snack bars. Its snack bars provide drinks, biscuits and instant noodle to office workers, and allows customers to pay via mobile payment options like WeChat Pay and Alipay.

Beijing-based Meiweishenghuo got $4.5 series A+ funding from GGV Capital with participation by Zhen Fund, K2VC, Matrix Partners China. It develops vending machines which allow its users to buy and pay via QR scan.

Others:

Hangzhou-based music education company, Maide Magic got $10 million pre-A series funding from Youcheng Capital. it provides music education solutions targeting 4-12 years old children for various music and arts schools and education institutions.

Also Read: China Funding Flow: VC deals in US startups witness slowdown

Chinese facial recognition firm, Face++ got $460 million series C from China State-Owned Assets Venture Investment Fund, Ant Financial and Foxconn Technology Group. It also saw participation from SK Group, Sunshine Insurance Group Company Limited and Russia-China Investment Fund (RCIF).

Mgeek raised $1.4 million series A from Changzhou Tenglong Auto Parts Co., Ltd. Its products include wireless power bank, thermostatic teacup, wireless humidifier.

Light theto got $10 million series A from Shunwei Capital and Baidu Ventures. Zhen Fund also participated in the round. Its technology can be used for security monitoring, visual reality and autonomous driving.

nreal.ai got $1 million Angel round co-led from Shunwei Capital and Aplus Capital.

Shanghai-based Aimon raised $7.6 million series B from Bilibili. It offers toy models, clothes, office stationery, suitcase and daily consumable.

Xinyisoft has got $1.48 million Strategic financing round from Hony Capital and Best Food Holding Company Ltd. Its SAAS based platform solutions can help catering enterprises which simplifies the cashier process, more efficiently manage user data, human resource information and supply chain.

Zhuiyi Technology has got $20.6 million in series B round from Sinovation Ventures. GGV Capital, Banyan Capital and Morningside Venture also participated in the round. It’s a AI based startup which develops chatbots.

Chinese second-hand mobile phone trading platform, Zhaoliangji raised $1.48 million series A round from Cyanhill Capital and Plum Ventures.

Air purifier manufacturer, 352Air raised $30 million series A round from Bertelsmann Asia Investments. Matrix Partners China, Huatai New Industry Growth Investment Fund and Atlas Capital also participated in round.

Also Read: China Funding Flow: Tech startups get attention from Investors

Yanjiyou has raised $18 million series B round from China Grand Prosperity Investment with participation by Xiamen C&D Corporation Ltd. it’s a bookstore operator, which combines bookstore with art gallery and cafe.

Gelonghui, a startup which focuses on stock information has raised $30 million series A from undisclosed investors.

Jewelry renting platform, Yiqidai has got $7.5 million strategic financing round from Tobgo.

Daling has got $1.48 million strategic financing round from Suning. It’s an e-commerce startup which sells imported authentic products from overseas to young Chinese consumers.

Beijing-based augmented reality and visual reality technologies developer, ThisVR has received $3 million series A funding from Shanghai Talenthub Investment Management Co., Ltd.

Beijing-based travel agency, Phoenix Travel has got $105 million series C funding from CITIC Capital, Haier Capital, Lenovo Holdings Corp and Legend Holdings. It also witnessed participation from Juyuan Investment, Yonghua Capital and Silk Road Huachuang.

WeShine has raised $10 millon series B funding round from Volcanics Venture with participation by Legend Capital, Unity Ventures and DCM China. WeShine is a Chinese gif picture sharing platform.

Shavers manufacturer, Tianjin Smate has received $1.48 million angel round co-led by Xiaomi Inc. and Shunwei Capital.

Shuwei has raised $1.48 million in series A+ round led by Oriental Fortune Capital. it offers indoor positioning services for mobile Internet platforms and smartphone manufacturers.

(Stay tuned to get updates on funding and other trends on the Chinese startup ecosystem. Entrackr brings you to the latest funding updates from India and China)

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