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

China

China and Hong Kong recorded slowdown in deals in the technology, media and telecommunications (TMT) sector between January and September this year.

According to the research firm Mergermarket, the mainland China and Hong Kong witnessed a total worth of $53.7 billion in the TMT space, in the past nine months. Last year, during the same period, the TMT space saw 257 deals of worth $71.8 billion.

Besides, total funding raised by China venture capital-backed fintech start-ups also fell to $800 million from $1.1 billion in the same quarter of 2016.

Below is the brief of latest deals in China:

Artificial Intelligence (AI) and Machine learning (ML)

Ninebot, Beijing-based robot maker has raised $100 million in “C” round from SDIC Fund Management Company Ltd. and China Mobile Innovation Industry Fund. Ninebot strategically merged with American self-balancing scooter leader Segway and now both operates two main businesses – Segway Personal Transportation and Segway Robotics.

Horizon Robotics has secured $100 million in series A+ round from Intel capital. It also saw participation from Morningside Venture Capital, Hillhouse Capital, Linear Venture, Harvest Investments and Wu Capital. It’s a Chinese robotics chip developer which focuses on connecting processors, hardware, software, cloud computing and big data to create full range solutions for artificial intelligence.

China

DeePhi received $40 million in series A+ round co-led by Ant Financial and Samsung Group. China Merchants Capital and China Growth Capital also participated in the round. Its artificial intelligence start-up its offerings are based on neural network compression technology and neural network hardware architecture so that it can simplify and accelerate deep learning applications.

Automotive:

CassTime has raised $22.7 million in series B round from Fosun RZ Capital with participation of Shunwei Capital and Hua Partners. It’s an auto parts ecommerce platform which have high-end brands such as Mercedes-Benz, BWM and Audi.

Das Master, Beijing-based automobile service and repair company has raised $14.8 million in series B+ round from Bowei Zhiyuan with participation by BlueRun Ventures, GlodenSummit and Shenghai Investment.

Super SOCO has secured $1.5 million in series A+ round co-led by Xiaomi Inc. and Shunwei Capital. They are the electric motor-cycle developer, they develop high tech intelligent alarm device, intelligent interactive system in the products.

Sharing Economy:

Mobrella, Shenzhen-based umbrella sharing startup has received $1.5 million in series A round led by DT Capital Partners and Daosheng Investment, it also saw participation from Zhuimengzhe Fund and Hapyonline. It claims to place 300k umbrellas in Shanghai, Shenzhen, Hangzhou and Guangzhou and operational with 270K paid users.

Edianzu has raised $18 million in series B round with participation by Matrix Partners China, Aplus Capital, Shunwei Capital and Lakala. They provide office appliances such as laptops, desktops, projectors, displayers and printers on rent for middle and small-sized enterprises. Its operational in 1,200 cities and have over 20,000 corporate customers.

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

Jimi has secured $15.9 million in series B round from Yujian Capital with participation by Qihu Zhongcai. It provides iPhone,iMac, MacBook, JmGo, DJI drone, VR, AR, Tesla, GoPro, Leica and other high-end technology products rental, repair and recycling services.

Food & Beverages:

Dajialai has got $15 million in series A round from Dianping.com with participation by TL data. It is a catering management solution provider which can manage ordering, payment, membership, inventories and invoices for medium and large or chain restaurants.

Yitaichang, Chinese take away fast food startup has received series A round from Sequoia Capital China. Financials of the deal remains undisclosed.

Others:

Shanghai-based makeup trial app startup Perfect Corp. raises $25 million in series A round from China Creation Ventures. Extol Capital and CyberLink also participated in the round. It consists photo beautification, VR makeup trial, makeup teaching, manicure and online community services.

Putiandi has raised $13.6 million in series A round led by Eastern Bell Venture Capital and Meridian Capital, Gohigh Fund also participated in the round. It deals in leasing shops, malls and venues for organizations and enterprises to hold activities, brand promotion, special offer and road show.

Meituan-Dianping has closed $4 billion in series F round led by Tencent Holdings Ltd, Sequoia Capital, GIC Private Ltd., Canada Pension Plan Investment Board, Trustbridge Partners, Tiger Global Management, Coatue Management and China-UAE Investment Cooperation Fund also participated in the round. It’s an on-demand local service provider platform in china. It connects consumers with local service providers.

iXiandou has received $15 million in series B round from Maison Capital with participation from Golden Brick Capital, Tendence Capital and Xining China Low-Carbon Industry Fund Investment Management Co. Ltd. it recycles paper boxes, plastic bottles, books, newspapers, electrical appliances, to community residents and business clients.

Repair & service platform Vipmro.com has raised $16.6 million in series B round from Yunqi Partners and Puhua Capital. Welight Capital and Ruiheng Capital also participated in the round.

Castbox has raised $12.8 million series A round from IDG Capita and Qiming Venture Partners with participation by Zhen Fund, SIG and GSR Ventures. It’s a podcast service platform which gathers over 5,000 audio contents and has nearly seven million users around the world.

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

Cebserv has received $12 million in series B round led by Junhe Capital. It connects IT freelancers with corporates looking for It services.

Xiaodouwangluo has raised $1.5 millionin angel round from undisclosed investors, it develops automatic check out system. It also has its own checkout-free book store Beans Book.

Beijing-based K-12 level Edutech startup, Gaosi Education has raised $52.8 million in a strategic financing round led by China Media Capital and AlphaX Partners with participation from Sinovation Ventures and China International Capital Co., Ltd.  Gaosi Education Group is a Chinese educational and training institution that provides services for middle and primary schools.

Huisuanzhang has raised $30 million in series B round from IDG Capital, Tendence Capital, CreditEase, THG Ventures and Chuanrong Capital. It’s a bookkeeping software developer which provides online accounting solution to its clients.

Futurus Technology has closed $10 million in series A round from Cathy Capital Private Equity. SBCVC and One Capital also participated in the round. It specialises in developing head-up displays. Its products can be used for safety driving assistance, navigation, music playing, and phone calls.

GZY360.com has raised $150k in angel round from Green Pine Capital Partners. It’s a real estate company which helps contractors to find materials and labours for public building renovate management.

X-Charge has closed $1.5 million in series A round led by GGV Capital with participation by Zhen Fund. It provides charging pile to charge electric motor-bikes and after charging customers can pay by QR code scanning via mobile app.

(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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