A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.

DEALS OF THE WEEK

PAG Leads $100M Round in Chinese Used-Car Auction Platform Chezhibao
Chezhibao (2012, Jiangsu), a Chinese used-car online auction platform raises $100M in series C round of funding from Asian alternative investment management firm PAG.

INTERESTING FUNDRAISING ACTIVITY IN CHINA

Tencent, Baidu Lead $86M Round in Chinese Electric Vehicle Maker NIO
NIO (2014, Shanghai), an electric car maker, formerly known as NextEV, raises $86M in funding led by Tencent and Baidu with participation from IDG Capital, American investment firm TPG, Hillhouse Capital, Lenovo Group Ltd., Singapore-based GIC Private Ltd., and others.

Qiming, GGV-Backed CSD Water Completes $36M Shanghai Listing
CSD Water (2009, Beijing), a water treatment company, backed by Qiming Venture Partners and GGV Capital, has completed an initial public offering on the Shanghai Stock Exchange. The company issued 25.6 million new shares at the price of $1.43 to raise a total of $36M. Shares jumped as much as 44% in local trading to reach $2.06 per share.

Shenzhen Capital Co-leads $29M Round in Chinese Robotics Firm Makeblock
Makeblock (2011, Shenzhen), an educational programmable electronic robot kit building start-up, raises $29M in series B round of funding from Evolution Media China, an investment firmbacked by U.S based Evolution Media Partners and Chinese investment firm Shenzhen Capital Group.

CMC and HG Capital Lead $26M Round in Chinese Social Media Ranking Firm
Newrank (2014, Shanghai), a social media content monitoring and ranking startup, raises $26M in series B round of funding led by CMC Capital, a Chinese investment firm focused on the media and entertainment sector, and Chinese private equity firm HG Capital with participation from Fortune Capital.

Qualcomm and Accel Lead $10M Round in IoT Solutions Provider Borqs
Borqs (2007, Beijing & Bangalore), a provider of smart connected devices and cloud service solutions for the Internet of Things (IoT) sector, raises $10M in series E round of funding from Qualcomm Ventures and Accel Partners India.

Shunwei and Baidu Ventures Lead $10M Round in Chinese Big Data Company Shumei
Shumei Technology (2015, Beijing), an AI based fraud detection startup, raises $10M in series A round of funding led by Shunwei Capital and Baidu Ventures with participation from Chinese venture capital firm Crystal Stream and existing investor, Qihoo 360.

Fosun Kinzon and IDG Lead Financing in China Mobile Marketing Firm ZMT Zhongmeng
ZMT Zhongmeng (2015, Beijing), a mobile marketing solutions provider, raises an undisclosed amount in series B round of funding led by Fosun Kinzon Capital and IDG Capital with participation from Beijing-based Jingsheng Technology.

China’s Virscend Education Invests in Baby Center Franchise Babycare.cn
Babycare (1998, Beijing), a childcare and education center for babies, raises an undisclosed amount from Hong Kong-listed Chinese education firm Virscend Education. 

INVESTMENTS BY CHINESE INVESTORS AND COMPANIES

China Investment Corp Injects $100M in Airbnb
Airbnb (2008, SF), an online marketplace for vacation rental accommodation, raises $100M in funding from Chinese Sovereign wealth fund, China Investment Corp.

Alibaba Leads $18M Round in Swiss AR Company Wayray
Wayray (2012, Lausanne), a holographic car navigation startup, raises $18M in series B round of funding led by Alibaba Group with participation from existing investors.

CreditEase’s Fintech Venture Fund Invests In Three US Fintech Start-Ups
CreditEase Fintech Investment Fund, a venture fund backed by Chinese financial technology firm CreditEase has participated in a series C financing round in Trumid (2014, NYC), a U.S. electronic trading platform for the bond market, and in a series B round in WeConvene (2012, Tsim Sha Tsui), a U.S. online corporate access management provider for capital markets. It also participated in a seed round for WorldCover (2015, NYC), a P2P marketplace crop-insurance platform.

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