A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.
INTERESTING FUNDRAISING ACTIVITY
Alibaba hits a GMV of $463B on its eCommerce marketplaces
Chinese eCommerce giant Alibaba reported a Gross Merchandise Value (GMV) of $463B on its eCommerce marketplaces. The figure represents a growth of about 23% over the previous year.
B2B travel services platform Travelzen raises 93M in Series C round
Travelzen (2007, Shanghai) B2B travel services platform raises $93M series C round of funding from Addor Capital, NewMargin Ventures and a fund affiliated with Everbright Securities. After this round, the company plans to exit via an initial public offering on domestic exchanges.
Yi jiu pi (2014, Beijing) Online B2B liquor retailer raises an extended series B round of $30M, co-led by domestic GPs Yuan Sheng Ventures and Eastern Bell Venture Capital. Existing investors Source Code Capital and Light House Capital also participated in the round.Platform for tour guide services Nilai.com raises $2.3M
Nilai (2014, Beijing) Marketplace for outbound Chinese tourists to connect with native guides raises $2.3M in a pre-series A round. The round was led by Beijing Fuyuan.
Alibaba-backed courier firm YTO Express to list via $2.7B reverse merger
YTO Express (2000, Shanghai) is an express delivery services firm backed by Alibaba. The firm will be merging with the Shanghai-listed clothes company Dalian Dayang Trands for $2.7B. Under the deal, Dayang Trands will transfer its assets to YTO Express’ shareholders.
Tech jobs matching platform raises $34M
Lagou (2013, Beijing) Job-matching platform connecting tech talent and enterprises raises $34M in a series C round led by Hongdao Capital, followed by Qiming Ventures and Rongchao Investment.
SaaS platform for sourcing candidates raises funding from Cathay Capital
Ifchange (2012, Shanghai) SaaS platform for candidate sourcing raises an undisclosed amount from Cathay Capital.
Online third-party insurance buying platform Hzins raises $30M
Hzins (2006, Shenzhen) a Chinese online third-party insurance buying platform raises $30M in a series B round of funding from domestic GPs including Beijing Wanrong Times Capital and Shenzhen CDF-Capital.
Goldman Sachs invests $37M In Venus Medtech
Venus Medtech (2009, Hangzhou) a firm involved research and development of percutaneous medical devices raises $37M funding from Goldman Sachs. The firm said that the funds would be used to establish cardiac valve research Institute along with the second affiliated hospital of Zhejiang University.
Disclaimer: Reports tell that funding numbers announced by some companies in China are inflated. So read these with a pinch of salt.