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China Funding Flow: Beijing, Shanghai lead the show


When investors are treading carefully before making investments in startups in various countries, VCs are still bullish about China-based startups.

This week, Chinese tech startups witnessed 35 funding deals of worth $1.03 billion, which speaks volumes about the startup ecosystem in China.

Below are the details of funded startups:

Beijing-based startups:

Alauda has received $15 million series B funding from Tencent Holdings, which also saw participation from Banyan Capital and CBC Capital. Alauda provides cloud based services which includes major fields such as financial, manufacturing, aviation, energy and automotive.

Jinying closed $40 million series B+ round co-led by Xiaomi Inc. and Yunfeng Capital. SIG and Fosun Group also participated in the funding round.

Chinese drone manufacturer, TechX has raised $7.5 million from Fosun RZ Capital. it provides services for military and high-end industrial users.

AUBO (Beijing) Robotics Technology Co. ltd, a Chinese robot manufacturer company has raised $9 million series A funding round led by Fosun Group.

Yidebang has received $9 million series A round from Frontline BioVentures with participation by Marathon Venture Partners. It develops healthcare software which includes services such as management solution, drug supply, hierarchical diagnosis and treatment and other supporting medical services for basic-level clinics in China.

Automotive trading and services platform, Huashenghaoche has raised $150 million Strategic financing round from Minsheng Financial Leasing Co., Ltd.

Artificial intelligence-based video and photo editing app, Versa has closed $4.5 million pre-series A round from Sequoia Capital China. It also saw participation from Zhen Fund and Beijing Power Cloud Intelligent Venture Capital Co., Ltd.

Tmeng.cn has raised $13.5 million in series B round from SAIF Partners, Meridian Capital and DT Capital Partners. It’s a web drama and online movie producer which produces around 150 online movies and 100 episodes of web drama annually.

Also Read: China Funding Flow: Overseas VCs interest rises in Chinese startups

1MData had closed $15 million series B round from National Small and Medium-size Enterprises Development Fund (Shenzhen Guozhong Venture Capital Management Co., Ltd). it’s a health tech company which provides electronic medical record systems that uses optical character recognition technology to convert images of typed, handwritten or printed text into machine-encoded text, and scanning and uploading of images for record keeping and management.

Chinese gene sequencing company, Cygnus Biosciences has raised $19.6 million series B round from Zhongguancun Development Group and Dongfang Yirui (Shanghai) Investment which also saw participation from Beijing Longpan Investment Management Consulting Center (GP), Beijing Jinggong Hongyuan Venture Capital Center (LP), Proxima Ventures, General Technology Venture Capital Co., Ltd.

Chinese personalized news feed mobile app, Yidian Zixun has received $112.1 million series E from Long De Cheng Zhang Culture Communication (Tianjin) Co., Ltd.

Maimai.cn has raised $75 million in series C round from DCM Ventures China with participation by IDG Capital, Morningside Venture Capital and Zhaopin.com. it’s a business and career-oriented social networking company.

SenseTime, a Chinese artificial intelligence company which specialised in face recognition technology has raised $10 million strategic financing round from Qualcomm.

ZMT Zhongmeng has raised $27 million in series B+ round from Yunfeng Capital with participation by IDG Capital and Kinzon Capital. it’s a precision marketing services provider which offers mobile precision marketing solutions, covering a number of fields including life services, automobile, real estate, education, healthcare, finance, and tourism.

P2P lending firm, 9f Group has closed $100 million series C round from Cinda International Holding Ltd, Jiang Nanchun, Lin Qi.

Shanghai-based startups:

EOC Pharma has raised $32 million series B round from Taikang Investment which also see participation from H&Q Asia Pacific and Sequoia Capital China. EOC Pharma focuses on the in-licensing of innovative global oncology products, and developing, manufacturing and commercializing them for the Chinese market.

Electric vehicle company, NIO has raised $1 million series D round from Tencent Holdings with participation from Baillie Gifford, Lone Pine Capital, CITIC Capital, China Asset Management Ltd.

COHO has received $1.5 million series A round from Zhen Fund with participation by China Growth Capital. it develops workforce management software.

Autobole has raised $10.5 million series B round from Jupai Holdings Ltd.’s Yunji Capital. Green Pine Capital Partners also participated in the round. Autobole provides inspection services to its customers for used cars.

Sunnatech has raised $3 million in series A round from Shenzhen Jiadaogu Investment Management Co. Ltd. the company is focusing on tissue-engineered small diameter vascular grafts.

Chinese cross-border e-commerce platform, yMatou.com has raised $100 million series C round from China Merchants Capital.

New Core Technology has closed $3 million series A round from Northern Light Venture Capital. It provides mobile enterprise resource planning(ERP) systems for sales, production and storage management.

Shenzhen-based Startups:

Chinese digital product developer, Alilo has raised $15 million series A round from Fosun RZ Capital. the company focus on early childhood education. It offers early education toy, bedtime stories, and lullabies and many other products for children.

Malong Technologies has received $31 million series B round from SBCVC. It is a Chinese machine vision start-up, which specializes in developing machine vision technologies for visual product recognition.

Lebo has got $9.8 million series A+ round co-led by Shenzhen Qianhai Fund-of-funds and T-rex Capital. it also saw participation from Bojiang Capital and Ren Capital. Its product can connect smart phone with TV set or projector to display mobile games, live video streaming, video calls and other mobile contents on larger screen.

Healthcare wearable devices developer, Sennotech has raised $1.5 million pre-A series round from Midas Capital with participation from Tianjin Venture Capital and Cyzone Angel Fund. It also provides healthcare solutions, such as smart insoles, which can monitor and analyze users’ activities, as well as smart tablecloth and bed sheets.

Artificial intelligence chip maker, Kneron has raised $10 million series A round from Alibaba Entrepreneurs Fund which also saw participation from Qualcomm, Sequoia Capital China, Cyzone Angel Fund, CDIB Venture Capital, ThunderSoft and Himax Technologies Inc. Its offered products can be applied in smart Internet of Things(IoT), internet of vehicles(IoV), security, unmanned aerial vehicle (uav) and many other fields.

SpeakIn has received $1.5 million in series A round led by IDG Capital, other participants in the round are Hongzhi Capital and Fuyu (Shanghai) Investment Management Co., Ltd. it’s a voice recognition firm which can recognise the gender and emotions of speakers and separate different voices.

Hangzhou, Guangzhou and others HQ based startups:

WeShine has raised $100 million in series B round led by Volcanics Venture which also saw participation by Legend Capital, Unity Ventures and DCM China. WeShine is a gif picture sharing platform.

Chinese cloud service provider, Bokecc.com has raised $31 million in series C round from NewQuest Capital Partners, Jiawo Capital, Silk Road Huachuang Investment Management (Beijing) Co., Ltd. It offers cloud storage, cloud management and cloud streaming of videos to customers in the education, media, government enterprises and other fields.

Hangzhou-based LoveJourney has received $1.5 million in strategic financing round from Bao Shinn International Express Ltd. it’s a destination weddings agency, which provides users with destination wedding services, wedding photos, honeymoon tours and hotel booking.

Chinese lithium battery cover and polymeric positive temperature coefficent (PPTC) supplier, ZRDZ which is based out of Changzhou has received $15 million series A funding from National Small and Medium-size Enterprises Development Fund (Shenzhen Guozhong Venture Capital Management Co., Ltd), Shenzhen Capital Group Co., Ltd.

Guangzhou-based Gump Come has raised $15 million series B round from Walden International which also saw participation from Baidu Ventures and DT Capital Partners. It provides vending machines and system solutions for vending machine operator.

Deepwise has received $17.3 million in series A+ round from Dalton Venture, FengHe Group, Tendence Capital, Kinzon Capital, Beijing Dongfang Hongdao Asset Management Co., Ltd. It’s a AI based startup which provides clinical imaging services. It focuses on developing clinical imaging diagnosis system for early-stage detection of cancer. It currently covers breast cancer, prostate cancer and chest radiograph.

Hangzhou-based hardware and healthcare software developer, Halove has raised $31.5 million in series A round from We Doctor Group.

(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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