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


Future Mobility Raises $200 Million In Financing Round At $750 Million Valuation
Future Mobility (2016, Guangdong), an electric vehicle manufacturer, raises $200M in a funding round from a group of unnamed investment institutions and large enterprises.


Chinese Co-Working Space UrWork Raises $179M In Pre-C Round
UrWork (2015, Beijing), a co-working space operator, raises $179M in Pre-C financing round from Beijing Capital Land, Beijing Xingpai Group and Beijing Aikang Group and Jingrong Holdings.

CMB International Joins $150M Round In Chinese Medicine Clinic Operator Gu Sheng Tang
Gu Sheng Tang (2010, Guangzhou), a traditional Chinese medicine clinic franchise, raises $150M in Series D round of funding from China State-owned Capital Risk Investment Fund, China Life Insurance, CMB International, China Orient Asset Management, as well as two unnamed government guidance funds.

Olympus Capital Joins $90M Round In Chinese Radio Advertising Firm Yuanyu
Yuanyu Radio (2002, Shanghai), a radio advertising agency, raises $90M in funding round from Olympus Capital Asia and Singapore’s UOB Venture Management.

Temasek Leads $59M Round In Chinese Biotherapeutics Developer Just China
Just China (2016), an antibody and recombinant protein bio-therapeutics developer, raises $59M in Series B round of funding led by Temasek Holdings with participation from Taikang Life Insurance, Hangzhou Economic & Technological Development Area, Bank of China, Bank of Hangzhou, as well as existing investors Lilly Asia Ventures and ARCH Venture Partners.

Tencent Joins $29M Round In Chinese Supply Chain Finance Firm Linklogis
Linklogis (2016, Shenzhen), a supply chain financial services provider, raises $29M in Series B round of funding from Tencent Holdings, China Merchants Venture Capital Management, and Bertelsmann Asia Investments with participation from CITIC Capital and Loyal Valley Innovation Capital.

Yunqi Leads $24M Round In Chinese B2B Textile E-Commerce Platform Baibu
Baibu (2015, Guangdong), a business-to-business textile e-commerce mobile app, raises $24M in Series B+ round led by Yunqi Partners with participation from Chengwei Capital and Source Code Capital.

Qiming Venture Leads $20M Round In Cancer Screening Start-Up New Horizon Health
New Horizon Health (2015, Beijing), a precision health start-up focused on developing early-stage cancer screening technologies, raises $20M in a funding round led by Qiming Venture Partners with participation from Legend Capital, SoftBank China and other unnamed investors.

Chinese Cloud Solutions Provider T2 Cloud Raises $14M Round
T2 Cloud (2011, Beijing), a cloud solutions provider, raises $14M in Series B round of funding from an unnamed securities company and Sinosoft.

Alibaba Joins $9M Round In Hong Kong based Bike Sharing Firm Gobee.bike
Gobee.bike (2017, Hong Kong), a bike sharing start-up, raises $9M in Series A round of funding led by Grishin Robotics and Alibaba Entrepreneurs Fund.

Lenovo Leads Funding Round In Chinese AR Optical Module Developer NED+AR
NED+AR (2015, Beijing), a supplier of optical modules for augmented reality glasses, raises an undisclosed amount in Pre-A round led by Lenovo Capital and Incubator Group.


Tencent Joins $330M Round In Smartphone Start-Up Founded By Android Inventor Andy Rubin
Essential Products (2017, Palo Alto), a smartphone and smart devices start-up founded by Android Inventor Andy Rubin, raises $330M in a funding round from Tencent Holdings, Access Technology Ventures. Besides Tencent, Foxconn, Amazon, Redpoint, VY Capital and Altimeter Capital.

Didi Chuxing Invests In Middle East And North Africa Ride Hailing Firm Careem
Careem (2012, Dubai), a ride-hailing firm operating in Middle East and North Africa, raises an undisclosed amount in a funding round from Didi Chuxing.

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