A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.
DEALS OF THE WEEK
AI Start-Up SenseTime Raises $410M Series B Round
SenseTime (2014, Hong Kong), an AI start-up focussing on computer vision and deep learning technologies, raises $410M in series B round of funding led by CDH Investments, and Sailing Capital with participation from China International Capital Co., Co-Stone Capital, China Merchants Securities International, Morningside Venture Capital, Everbright-IDG Industrial Fund, Advantech Capital, Zhongping Guoyu Asset Management, Huarong International Financial Holdings, TCL Capital and Infore Group.
INTERESTING FUNDRAISING ACTIVITY IN CHINA
PAG, Primavera Lead $117M Round In Online Unsecured Loan Lender Dashu Finance
Dashu Finance (2014, Shenzhen), an online lender for unsecured loans to small and micro enterprises, raises $117M in series C round of funding led by PAG and Primavera Capital Group with participation from Sequoia Capital China and China Everbright.
Shouqi Limousine & Chauffeur Raises $88M In New Round
Shouqi Limousine & Chauffeur (2015), an app-based ride booking service with a fleet of authorized vehicles, raises $88M in series B round of funding from undisclosed investors.
Warburg Pincus Leads $60M Series B Round In Logistics Robot Maker Geek+
Geek+ (2015, Beijing), a provider of one-stop intelligent logistics robot solutions enabled by artificial intelligence and robot technologies, raises $60M in series B round of funding led by Warburg Pincus with participation from Volcanics Venture.
Eastern Bell Leads $52M Round In Industrial Products E-Commerce Platform Zhenkunhang
Zhenkunhang (1996, Shanghai), an industrial products e-commerce platform, raises $52M in series B round of funding led by Eastern Bell Venture Capital with participation from Shenzhen Cowin Venture Capital Investments.
IDG Leads $50M Round In Apartment Rental Firm Chengjia Apartment
Chengjia Apartment (2015), an apartment rental start-up, raises $50M in pre-series A round of funding led by IDG Capital and Huazhu Hotels Group.
IFC Leads $50M Round In Hong Kong Fintech Firm CompareAsiaGroup
CompareAsiaGroup (2014, Hong kong), an online comparison platform for financial, telco and utility products across Asia, raises $50M in series B round of funding led by International Finance Corp with participation from Alibaba Entrepreneurs Fund, SBI Group, H&Q Asia Pacific, Lisa and Douglas Goldman Fund, Nova Founders Capital, ACE & Company SA and Route 66 Ventures.
China Renaissance Co-Leads $30M Round In Fabric Trading Platform Lianshang
Lianshang (2015), an online B2B fabric trading platform, raises $30M in pre-series C round of funding led by China Renaissance Private Equity Fund and Fengshang Capital with participation from IDG Capital and China Growth Capital.
Qingdao Ronghai Leads $29M Round In Chinese Fintech Start-Up Hairongyi.Com
Hairongyi.com (2014), a Fintech start-up backed by Haier Financial Holdings, raises $29M in series A round of funding led by Qingdao Ronghai.
Qiming Leads $25M Round In Precision Medicine Solutions Firm QIAGEN Suzhou
QIAGEN Suzhou (2013, Jiangsu), a precision medicine solutions provider, raises $25M in series A round of funding led by Qiming Venture Partners with participation from New Horizon Capital, Quanchuang Capital and Shanghai Anjie Medical Equipment Company.
Chinese Academy Of Sciences Unit Leads $22M Round In Robot Sensor Firm Slamtec
Slamtec (2009, Shanghai), a provider of high-performance laser sensor solutions for robots in auto localization and navigation, raises $22M in funding led by Chinese Academy of Sciences Holdings with participation from ChinaEquity and Shenzhen Guozhong Venture Capital Management.
Alibaba Entrepreneurs Fund Leads $14M Round In Cooking Video Producer DayDayCook
DayDayCook (2012, Hong Kong), a start-up providing cooking videos and recipes, raises $14M in series B round of funding led by Alibaba Entrepreneurs Fund.
Fidelity International Leads Funding Round In Mobile Big Data Firm Jiguang
Jiguang (2011, Shenzhen), a big data start-up focused on providing user activity analysis for mobile app developers and marketers, raises an undisclosed amount in series D round of funding led by Fidelity International.
China Growth Capital Leads Funding Round For Import-Export Fintech Start-up Sunrate
Sunrate (2016), a Fintech company focused on providing cross-border payment and exchange-rate risk-management solutions, raises an undisclosed amount in series A round of funding led by China Growth Capital.
INVESTMENTS BY CHINESE INVESTORS AND COMPANIES
Cathay Innovation Closes Debut Fund At $320M
Cathay Innovation (2015, San Francisco), a global venture capital fund affiliated with Sino-French private equity firm Cathay Capital Private Equity, closes its first venture capital fund at $320M from China Development Bank Capital, Joyoung, investment bank Bpifrance, tire manufacturer Michelin, BNP Paribas Cardif S.A., airport operator Groupe ADP, Groupe Artemis, Groupe SEB, Total S.A. and automotive supplier Valeo.
GGV Leads $10M Round In Cross-Border E-Commerce Firm Yamibuy
Yamibuy (2013, California), an e-commerce platform focused on selling specialty Chinese and Asian goods to Asian consumers living in North America, raises $10M in series A round of funding led by GGV Capital with participation from New Oriental Education & Technology Group.
WI Harper Joins New Founding Round In Chinese AI Cloud Firm CloudBrain
CloudBrain (2015), a U.S. and China-based artificial intelligence cloud start-up, raises an undisclosed amount in series A round of funding led by 10Fund with participation from WI Harper Group.