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


China’s Tencent Reported To Lead $1B Round In Chinese EV Firm NIO
NIO (2014, Shanghai), an electric vehicle company, raised $1B in a funding round led by Tencent Holdings with participation from Baillie Gifford, American Lone Pine Capital, China’s CITIC Capital and China Asset Management.


Alibaba Fund, IFC Join $220M Round In HK Mobile Lending Firm WeLab
WeLab (2013, Hong Kong), a mobile lending start-up, raised $220M in series B+ round from Alibaba Hong Kong Entrepreneurs Fund, International Finance Corp, Credit Suisse and others.

China’s Baidu Rumored To Lead $140M Round In Electric Vehicle Start-up WM Motor
WM Motor (2015, Shanghai), an emerging Chinese automaker, raised $140M in a funding round from Baidu and Tencent Holdings.

CITIC Co-Leads $105M Round In Chinese Travel Agency Phoenix Travel
Phoenix Travel Worldwide (1997, Beijing), an overseas travel agency, raised $105M in series C round of funding led by China’s CITIC Capital, Haier Capital, Lenovo Holdings Corp and Legend Capital with participation from Juyuan Investment, Yonghua Capital and Silk Road Huachuang.

Guangzhou Automobile Leads $83M Round In Chinese Car Services Platform Ds.cn
Ds.cn (2016, Beijing), an auto services platform, raised $83M in a funding round led by Guangzhou Automobile Group with participation from Urtrust Insurance.

Chinese Artificial Intelligence-Powered Educational Firm Yixue Education Completes A $41M Angel Round
Yixue Education, a Chinese artificial intelligence-powered educational firm, raised $41M in Angel round of funding from SIG, Nokia Growth Partners, New Oriental Education and Technology Group and Greenwood Investment

Sequoia Joins $32M Round In China’s Oncology-Focused EOC Pharma
EOC Pharma (2015, Shanghai), an oncology-focused development company, raised $32M in series B round of funding led by China’s Taikang Investment with participation from H&Q Asia Pacific and Sequoia Capital China.

Shunwei Capital Joins $30M Series B Round In Chinese Auto Insurance Search Engine Cheche365.com
Cheche365.com (2014, Beijing), a car insurance distribution platform, raised $30M in series B round of funding led by China Capital Group with participation from Shunwei Capital and CBC Capital.

BAI Leads $30M Round In Chinese Air Purifier Developer 352Air
352Air (2014, Beijing), a home air purification systems, raised $30M in series A round of funding led by Bertelsmann Asia Investments with participation from Matrix Partners China, Huatai New Industry Growth Investment Fund and Atlas Capital.

WuXi AppTec Joins $28M Round In Chinese Precision Medicine Firm AnchorDX
AnchorDX (2015, Guangzhou), a precision medicine start-up, raised $28M in series B round of funding led by 6 Dimensions Capital and Sijia Jianxin with participation from Arch Venture Partners, Marathon Venture Partners, WuXi AppTec Group and KingMed Diagnostics.

Sinovation Leads $20.6M Round In Chinese Chatbot Developer Zhuiyi
Zhuiyi (2015, Shenzhen), an artificial intelligence start-up developing chatbots, raised $20.6M in series B round of funding led by Sinovation Ventures with participation from GGV Capital, Banyan Capital and Morningside Venture.

Tencent Leads $15M Series B Round In Chinese Cloud Computing Firm Alauda
Alauda (2014, Beijing), a provider of cloud computing services for enterprises, raised $15M in series B round of funding led by Tencent Holdings with participation from Banyan Capital and CBC Capital.

Tencent Invests In Chinese Fighting Robot Maker GJS Robot
GJS Robot (2015, Shenzhen), a start-up specializing in making customized fighting robots designed for robot combat competitions, raised an undisclosed amount in series A round of funding led by Tencent Holdings.


China’s Sunsea Co-Leads $60M Round In US IoT Firm Ayla Networks
Ayla Networks (2010, Sunnyvale), a platform for hosting connected devices, raised $60M in series D round of funding led by Run Liang Tai Fund and Sunsea Telecommunications.

EQT-backed GPA Global acquires UK’s MW Luxury Packaging
GPA Global, a Hong Kong-based packaging and display solutions provider, announced that it has agreed to acquire 100 percent of the UK’s MW Luxury Packaging.

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