A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.
DEALS OF THE WEEK
Chinese ride-sharing firm Didi Chuxing raises $4B
Didi Chuxing (2012, Beijing), a ride-hailing service company, raised $4B in an undisclosed round led by Softbank Group Corp. Mubadala Capital also participated in the round.
INTERESTING FUNDRAISING ACTIVITY IN CHINA
Tencent, JD.Com To Inject $863M In E-Commerce Player Vipshop, Intensifying Battle With Rival Alibaba
Vipshop Holdings Ltd. (2008, Guangzhou), an online discount retailer, raised $863M in Post IPO round led by Tencent Holdings Ltd. and JD.com, Inc.
China’s Commercial Space Launch Company ExPace Raises $180M Round
ExPace Technology Co., (2016, Wuhan), a commercial space launch company, raised $180M in Series A round from undisclosed investors.
GLP, Bank Of China Invest $70M In G7 Networks To Develop Internet Of Things
G7 Networks (2006, Beijing), an Internet of Things company, providing IoT and big data solutions for fleet management, raised $70M in a strategic investment round led by Global Logistic Properties and Bank of China Group Investment Ltd.
Sequoia, Hillhouse, Yitu Technology Join $68M Series A Round In Chinese AI Chip Maker ThinkForce
ThinkForce (2017, Shanghai), an artificial intelligence chip maker, raised $68M in Series A round led by Sequoia Capital China, Hillhouse Capital, Yunfeng Capital and Yitu Technology.
SDIC Fund Leads $30M Round In Chinese Pharmaceutical Company LP Pharma
LP Pharma (2012, Xiamen), a pharmaceutical company focusing on the research and development of pharmaceuticals applicable to mucous membrane in the oral cavity, raised $30M in Series B round led by SDIC Fund Management Company Ltd., CMB International Capital Co Ltd, and Zhangzhou Pien Tze Huang Pharmaceutical Co., Ltd.
Fidelity’s Investment Arms, Northern Light Venture Lead $25M Round In Orient Speech Therapy Center
Orient Speech Therapy Center (China) Ltd. (2007, Hong Kong), a Chinese speech and language therapy operator, raised $25M in Series B round led by Eight Roads Ventures and F-Prime Capital.
New Oriental Joins $21M Round In Chinese Parenting Content Platform Xiaoxiaobaomama
Xiaoxiaobaomama, a Chinese new media platform focusing on the evaluation of maternal and infant products, providing parenting knowledge targeting infants, raised $21M in Series A round led by New Oriental Education & Technology Group Inc., and Lafang China Co., Ltd.
Chinese Blockchain Technology Firm Coldlar Raises $10M Series A Round
Coldlar (2017, Beijing), a blockchain technology company, raised $10M in Series A round led by China Capital Financial Service Chamber of Commerce.
Tianhe Life Sciences leads $9.5M Series A in Clover Biopharma
Clover Biopharmaceuticals (2007, Chengdu), a biotechnology company focused on developing novel and transformative biological therapies, raised $9.5M in Series A round led by Tianhe Life Sciences Venture Fund.
Hong Kong-based fintech startup EMQ raises $6.5M Series A
EMQ (2014, Hong Kong), a Fintech startup, raised $6.5M in Series A round from undisclosed investors.
National SMEs Development Fund Leads New Funding Round In English Language Learning Platform Langying
Langying Education (Shangai), an online English language education system developer, providing learners with a comprehensive online education evaluation and service platform, as well as personalized education solutions, raised an undisclosed amount in Series A round led by National Small and Medium-size Enterprises Development Fund.
Baidu Leads New Funding Round In Chinese Quantitative Trading Platform JoinQuant
JoinQuant (2015, Beijing), a quantitative investment trading service platform, raised an undisclosed amount in Series B round led by Baidu.
Alibaba Joins Funding Round In Chinese EV Firm Xiaopeng Motors
Xiaopeng Motors (2015, Guangzhou), a Chinese electric vehicle maker, raised an undisclosed amount in undisclosed Series led by Alibaba Group Holding Ltd., GGV Capital and Matrix Partners China.
INVESTMENTS BY CHINESE INVESTORS AND COMPANIES
Baidu, China Life To Jointly Launch $2.12 Billion Fund To Back Internet And AI Companies
Baidu Inc, a Chinese web services company, and China Life Insurance Co., Ltd., a Beijing based incorporated company that provides life insurance and annuity products, jointly launched a $2.12B fund to back companies in the mobile internet, artificial intelligence, Fintech and other advanced technology sectors.
Sunac China raises $1B in upsized share placement
Sunac China Holdings Ltd., a China-based property developer, raised $1B in a share placement.
Tencent to pick up stake in supermart chain for $638M in rare retail foray
Tencent Holdings Ltd., a Chinese investment holding conglomerate company, is in plans to acquire 5% stake in Yonghui Superstores Co., a Chinese supermarket chain, for $638M.
China’s Didi Chuxing To Acquire Payment Firm 19Pay In Bid To Rival Tech Giants BAT
Didi Chuxing, China’s largest ride-hailing firm, agreed to acquire 19Pay, a Beijing based third-party payment firm, for $45M.