A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.
DEALS OF THE WEEK
YMCI Leads $73M Round In Chinese Car Rental Platform Wukong Zuche
Wukong Zuche (2014, Beijing), a car rental start-up focused on the tourism sector, raises $73M in funding from Yunnan Metropolitan Construction Investment Group.
INTERESTING FUNDRAISING ACTIVITY IN CHINA
CDH Investments Leads $44M Round In Chinese Logistics Firm Yimidida
Yimidida (2015, Shanghai), a logistics services platform focused on small cities and counties in China, raises $44M in Series B round of funding led by CDH Investments with participation from Global Logistic Properties, Source Code Capital, K2VC, and Tuofeng Investment.
Chinese Co-Working Space Firm UrWork Raises $29M From Aikang Group
UrWork (2015, Beijing), a co-working space provider, raises $29M in funding from Beijing Aikang Group.
Tasley Pharma Leads $20M Round In Chinese Innovative Drug Developer PegBio
PegBio (2008, Suzhou), an innovative drug developer to combat diabetes and obesity, raises $20M in Series E round of funding led by Tasley Pharma.
Xiangtang miniKTV Raises $15M From Matrix, GSR
Xingtang miniKTV(2017), a Chinese operator of mini-sized automated Karaoke boxes, raises $15M in funding from Matrix Partners China, Vertex Ventures China, GSR Ventures and DCM.
Eastern Bell Leads Round In Industrial Parts E-Commerce Vertical Haizol.Com
Haizol (2015, Shanghai), an online B2B platform for industrial goods, raises $6M in Series A round of funding led by Eastern Bell Venture Capital with participation from Woofoo Capital.
Lenovo Capital Leads Series A Round In Medical Imaging Start-Up Imsight Medical
Imsight Medical (2017, Shenzhen), a start-up developing artificial intelligence-assisted medical imaging analysis tools, raises $3M in Series A round of funding led by Lenovo Capital and Incubator Group.
NewMargin Capital Leads Series B Round In Bike Sharing Firm Xiaoming Bike
Xiaoming Bike (2016, Guangzhou), a bike sharing startup, raises an undisclosed amount in Series B round of funding led by NewMargin Capital.
GGV Leads Funding Round In Chinese Manufacturing Data Management Firm Black Lake
Black Lake Technology (2016, Shanghai), a start-up providing real-time data management services to traditional manufacturers in China, raises an undisclosed amount in Series A round of funding led by GGV Capital with participation from Zhen Fund and China Growth Capital.
Ant Financial Invests In Chinese FinTech Start-Up VFinance
VFinance (2013, Shanghai), a provider of digital financial infrastructure solutions to enterprises in China, raises an undisclosed amount in funding from Ant Financial.
INVESTMENTS BY CHINESE INVESTORS AND COMPANIES
US Motion Tracking Firm Leap Motion Raises $50M To Expand Into China
Leap Motion (2010, San Francisco), a start-up developing motion tracking technology for natural input in virtual and augmented reality, raises $50M in Series C round of funding led by clients advised by J.P. Morgan Asset Management.
Gobi Partners Joins $15.5M Round In U.K. AR Firm WaveOptics
WaveOptics (2012, Abingdon), a patented technology based on waveguides for projected display applications, raises $15.5M in Series B round of funding from Gobi Partners, Octopus Ventures, Touchstone Innovations, and Robert Bosch Venture Capital.
Legend Capital Leads $14M Round In Managed Cloud Firm Bespin Global
Bespin Global (2015, South Korea), a provider of managed cloud services to medium and large enterprises, raises $14M in Series A round of funding led by Legend Capital with participation from Altos Ventures and two unnamed investors.
BRM Group, Shanghai-Israel Fund Lead $9M Round In Rapid Medical
Rapid Medical (2008, Yokneam Illit), a developer of neurovascular interventional devices such as distal access & micro catheters, raises $9M in Series B round of funding led BRM Group and Shanghai-Israel Investment Fund, with participation from Winnovation, and Gefen Capital.
Tencent leads $5M round in California-based AI firm ObEN
ObEN (2014, Pasadena), a platform for celebrities to create their 3D virtual avatar using AI, raises $5M in funding led by Tencent Holdings.
