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China Funding Flow: Tech startups get attention from Investors

After going through the first wave of China-based internet startups adapted Western business models, China is now experiencing a new wave of development through tech startups, which has caught the attention of big investors. This came to evident in recent investment declaration by Alibaba, which announced the investment of $15 billion into tech-focused research initiatives such as machine learning, network security, and visual computing.

China’s e-commerce giant through its programme “Alibaba Demo Academy”, which will disrupt the tech space in China and will spur the growth of Alibaba and other giants. Alibaba is not the single investor; Sequoia Capital also raised nearly $50.2 million for its China tech-focused fund.

Below is the list of Chinese startups, who got funded last week, in total they have raised $498.33 million.


Tongdun Technology raises $72.8 million in series C round co-led by Cinda Sinorock, Tiantu Capital, Temasek Holdings. Advantech Capital also participated in the round of Hangzhou based startup. Tongdun Technology specialises in risk management. It offers varies products based in banking, non-bank microfinance, insurance, funds, payment, gaming, social networks and live video streaming industries.

Zealfi Financial raises $9 million in series B round led by Ameba Capital. Zealfi Financial is a Hangzhou-based fintech company, which provides small and short-term loans to individual customers and risk control solutions for financial institutions.

Machine learning:

Beijing based YI Tunnel raises $1.5 million in an angel round led by Baidu Ventures. Fengshion Capital also participated in the round. YI Tunnel develops checkout-free convenience store technologies. The company claims to have a machine learning platform with 99 percent accuracy.

SeetaTech, Beijing based startups raises $1.5 million in pre-A series. The round led by Ants Capital and also participated by Linear Venture. It provides face recognition and deep learning tech solution.


Beehive Technology, an IoT startup raises $9.4 million from Tendence Capital. It develops drones for agriculture solutions. It claims to disrupt the agriculture industry as it can cover much more space in less time in comparison to the traditional method or manual efforts.

Meiweishenghuo raises $4.5 million in series A round led by Matrix Partners China. K2VC, Dianliang Capital, Lieying Capital and Shuidihuzhu also participated in the round. Startups manage smart vending machines which allow customer to buy any product by QR code scanning. Its products mainly include fresh products such as lunchboxes, fruit, salad, snacks, and beverages. It is a checkout-free convenience store operator.

Jijiankang gets an angel investment round of $9 million. Ciming Checkup’s founder Han Xiaohong, Meinian Onehealth Healthcare (Group) Co., Ltd’s founder Yu Rong, Zhisland, Shanghai Tianyi Investment(Group) Co., Ltd. and Chongshan Capital participated the round. It is a healthcare startup which provides health management solutions based on its big data concept.

Tujia, a Chinese counterpart of Airbnb raises $300 million in series E round co-lead by All-Stars Investment, Ctrip. China Renaissance’s New Economy Fund, Glade Brook Capital, G Street Capital also participated in the round. It offers vocational rental homes and also provides domestic and international destinations online. The company raises the fund at $1.5 billion valuations.

Usan, an umbrella sharing startup gets $4.5 million funds from LY.com, Focus Media,
9fbank.com. it is a Shanghai-based startup which provides an umbrella for sharing in Shanghai, Suzhou, and Nanjing. Users can borrow an umbrella from the collection center by scanning the QR codes.

iLeshou, a logistics startup raises $4.5 million in series A round from S. F. Express.

Huishoubao raises $45 million in series B round. Strait Capital Investment Group led the round which also saw the participation of Source Code Capital, SMC Capital China, CITIC Capital, Chengwei Capital. Shenzhen based company recycles smartphones. It collects second hand phones for recycle process.

Gaiya Environment raises $6 million series A round from Qiming Venture Partners. Suzhou based startup provides environment protection solutions and It offers environmental restoration, soil improvement and environmental protection projects.

Diandian Yangche raises $10 million in series C+ round which saw the participation of GGV Capital, GSR Ventures, Egarden Ventres, Magic Stone Alternative. It offers painting and cleaning services for automobile. It currently operates in over 20 cities across China, with over ten million cumulative users.

Hangzhou based LC-Bio raises $9.6 million in series A round from Sinowisdom Capital, Zheshang Venture Capital, Rushan Investment also participated in the round. It is a biotechnology startup which provides gene sequencing services for different institutes such as universities, research institutes, and hospitals.

Misspao raises $11 million in series A round from National Small and Medium-size
Enterprises Development Fund which also participated by Matrix Partners China,
ChinaEquity Group, Whales Capital, Lieying Capital.

It is a fitness startup which develops fully automated mini fitness rooms. Users can do the reservations for any nearby fitness room for exercise. Each fitness rooms well equipped with high-tech machines.

(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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