A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.
DEALS OF THE WEEK
Alibaba Said To Buy $3B Stakes In Chinese Bike Sharing Firm Ofo From GSR
Alibaba Group Holding Ltd., a Chinese tech giant, is reported to have acquired a $3B stake in Ofo, a Beijing based bike-sharing firm, from GSR Ventures, at a valuation of $10B.
INTERESTING FUNDRAISING ACTIVITY IN CHINA
Tencent-Backed Short Video Platform Kuai Shou Rumoured To Raise $1B At $17B Valuation
Kuai Shou (2011, Beijing), an online streaming and video sharing mobile app provider, seeking to raise $1B at $17B valuation.
Chinese Apartment Rental Service Provider Ziroom Raises $622M Series A Round Led By Warburg Pincus, Tencent And Sequoia China
Ziroom (2011, Beijing), an apartment rental service provider, raised $622M in Series A round led by Warburg Pincus, Tencent and Sequoia Capital China. General Atlantic, Code Capital, Strait Capital and Huasheng Capital, Sunac and New Hope Group also participated in the round.
Tiger Global, CMC Rumoured To Lead $450M Round In Chinese Fresh Produce E-commerce Platform Meicai.cn
Meicai.cn (2014, Beijing), a fresh produce e-commerce platform connecting farmers and restaurants, reportedly raised $450M in Series E round led by Tiger Global Management and CMC Capital Partners.
Fresh fruit chain Pagoda raises $230m in series B
Pagoda (2001, Shenzhen), a fresh fruit chain retailer, raised $230M in Series B round participated by Co-Stone Capital, Source Code Capital, Shenzhen Capital Group Co Ltd, Zhongzhi Capital, Zhongjin Zhide Equity Investment Management, and Yuexiu Industrial Fund.
Geely-backed Chinese Ride-Sharing Firm Caocao Zhuanche Raises $156M Series A Round At $1.6B Valuation
Caocao Zhuanche (2015, Hangzhou), an electric vehicle sharing company backed by Chinese automaker Geely, raised $156M in Series A round led by undisclosed investors.
Singapore’s Temasek Leads $100M Round In Chinese Robotics Firm Rokid
Rokid (2014, Hangzhou), a robotics start-up, raised $100M in an undisclosed round led by Temasek Holdings. Credit Suisse Group, CDIB Capital International, and IDG Capital also participated in the round.
CICC Leads $95M Round In Chinese Online Sports Community Hupu
Hupu Sports Media Ltd., (2004, Shanghai), an online sports information, retail and entertainment community, raised $95M in an undisclosed round led by China International Capital Corp.
China’s Kr Space raises $92m in funding from IDG Capital, Gobi, others
Kr Space (2014, Beijing), a co-working space provider, raised $92M in pre-Series B round led by IDG Capital. Gobi Partners, Unity Ventures, Prometheus Capital, China Minsheng Investment Management and Colony New Yangtze Fund also participated in the round.
Fosun Capital Leads $80M Round In Chinese Checkout-Free Convenience Store Operator Bingobox
Bingobox (2016, Zhongshan), a start-up developing fully-automated convenience stores, raised $80M in Series B round led by Fosun Capital. Prometheus Capital, Qiming Venture Partners, GGV Capital and Ventech China also participated in the round.
Shenzhen Capital Group Co-Leads $62M Round In Chinese Biopharmaceutical Firm Zelgen
Zelgen (2009, Jiangsu), a biopharmaceutical company, raised $62M in Series B round led by Shenzhen Capital Group Co., Ltd, Minsheng Life Insurance and Share Capital. Northern Light Venture Capital and China Youth Finance Network also participated in the round.
Chinese Smart Gym Operator Liking Fit Completes $54M Founding Rounds
Liking Fit (2014, Shanghai), a franchise smart gym operator, raised $54M in Series B and Series C rounds. The $7.8M Series B round was led by Sigma Square Capital and participated in by Cowin Capital, Zhonglu Capital and Lightspeed China Partners. The $47M Series C round was led by Guangkong Zhongying Capital, Focus Media Information Technology Co., and Terminus Technologies Co., Ltd. Sigma Square Capital and Lightspeed China Partners also participated in the round.
Green Pine Capital Leads $44M Round In Chinese Pharmaceutical Research Firm Kintor Pharma
Kintor Pharmaceuticals (2009, Suzhou), a pharmaceutical research company focusing on developing anti-androgen receptors medication, CETP inhibitors for cardiovascular disease, and kinase inhibitors for the treatment of solid tumours in liver, ovary, lung cancers, etc., raised $44M in Series C round led by Shenzhen Green Pine Capital Partners. Oriza Holdings, HighLight Capital, CCB International Healthcare Equity Investment Fund, Broad Resources, and Orient Securities Asset Management Co., Ltd also participated in the round.
China Merchants Capital Joins $31M Round In Chinese Space Launch Company One Space
One Space (2015, Beijing), a commercial space launch company, raised $31M in Series A+ round led by Qianhai Wutong Mergers and Acquisition Funds. China Merchants Capital, Tongkong Investment Group, Zhengxuan Investment, and Shenzhen Qianhai Hongtai Equity Investment Fund Management Co., Ltd also participated in the round.
Triniti Capital Leads $15M Round In Chinese Used Luxury Goods Platform 52Panghu.Com
52Panghu.com (2015, Beijing), an online second-hand luxury goods trading platform, raised $15M in Series A round led by Triniti Capital. 1898 Venture Capital and Shenzhen Yizan Investment Management Co., Ltd also participated in the round.
INVESTMENTS BY CHINESE INVESTORS AND COMPANIES
JD.com Said To Launch $2B Funding For Logistics Unit Ahead Of Possible IPO
JD.com, an e-commerce firm, is reported to have launched a fundraising round of $2B for logistics unit JD Logistics, ahead of possible overseas IPO.
Chinese Cashier-Free Store Bianlifeng Acquires Rival Lingwa As Industry Consolidates
Bianlifeng, a Beijing-based cashier-free store, acquired a controlling stake in its peer Lingwa, for an undisclosed amount.
Alibaba Taiwan Entrepreneurs Fund Leads $15M Round In Fitness Brand Space Cycle
Space Cycle (2015, Taipei City), a fitness studio brand, raised $15M in Series B round led by Alibaba through the Alibaba Taiwan Entrepreneurs Fund II.