A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.
DEALS OF THE WEEK
Tencent Leads $4B Round In China’s On-Demand Local Services Firm Meituan-Dianping
Meituan-Dianping (2015, Beijing), an on-demand local services platform, raises $4B in a new funding round led by Tencent Holdings Ltd. The round values the company at $30B up 66.6% from its previous valuation of $18B in January 2016.
INTERESTING FUNDRAISING ACTIVITY IN CHINA
Xiaomi-Backed Scooter Maker Ninebot Raises $100M Round From Chinese State-Owned Funds
Ninebot (2012, Beijing), a personal transportation robot maker, raises $100M in Series C round led by SDIC Fund Management Company Ltd. and China Mobile Innovation Industry Fund.
Intel Capital To Lead $100M Round In Horizon Robotics
Horizon Robotics (2015, Beijing), a robotics chip developer, raises $100M in Series A+ round led by Intel Capital, and Intel Corporation.
Sequoia, Matrix Lead $60M Round In Hong Kong Travel Booking Platform Klook
Klook (2014, Hong Kong), a travel activity booking platform, raises $60M in Series C round led by Sequoia Capital China, Matrix Partners and Goldman Sachs. Several unnamed Asia-based family funds also participated in the round.
Alibaba HK Entrepreneurs Fund Co-Leads $40M Round In Prenetics
Prenetics (2009, Hong Kong), a genetics-focused digital health company, raises $40M in Series B led by Alibaba Hong Kong Entrepreneurs Fund and Beyond Ventures.
Sinovation Ventures leads $40m Series B in m-commerce startup Huajuan
Huajuan Mall (2016 , Beijing), an online video and m-commerce platform, raises $40M in Series B led by Sinovation Ventures.
Ant Financial, Samsung Lead $40M Round In Chinese Deep Learning Firm DeePhi
DeePhi (2016, Beijing), an AI-based startup providing neural network architecture to accelerate deep learning applications, raises $40M in Series A+ round led by Ant Financial, and Samsung.
IDG, Qiming Lead $12.8M Round In Chinese Podcast Services Platform Castbox
Castbox (2015, Chaoyang), a podcast services platform, raises $12.8M in Series A round led by IDG, and Qiming.
Overseas Investments and Acquisitions by Chinese
Mason Group eyes Europe’s wealthy with $60M Liechtenstein private bank buy
Mason Group Holdings, a Hong Kong based financial services firm, acquires Liechtenstein based bank Raiffeisen Privatbank Liechtenstein, for $60M.