Chinese coffee shop chain Luckin Coffee has raised $150 million in an extended Series B round at a valuation of $2.9 billion. It was led by BlackRock, which committed $125 million to the deal.
China-based Candao, which helps restaurants manage their online food delivery businesses, has raised RMB100 million ($14.9 million) in a Series A round led by Hong Kong-based Gaw Capital Partners and Beyond Ventures.
China-based Enovate, which designs and produces new energy-powered vehicles, has raised RMB2 billion ($298 million) in a Series A round.
China and US-based autonomous driving technology developer Black Sesame has completed its Series B round of funding, raising around $100 million led by Junhai Chuangxin, an investment vehicle under Legend Capital.
IDG Capital Partners and CDH Investments have led an RMB300 million ($45 million) Series B round for China-based Creative Biosciences, a manufacturer of testing kits for colon cancer.
China and US-based autonomous driving technology developer Pony.ai will receive $50 million from listed internet company Beijing Kunlun Tech in a deal that values the business at approximately $1.7 billion.
Chinese big data services provider MiningLamp Software has raised $298 million with a view to expanding into new verticals. The effort will leverage a strong foothold in police and surveillance work
Shiyu Capital, which focuses on growth-stage investments in Chinese healthcare companies, has closed its second renminbi-denominated fund at RMB3.2 billion ($477 million), beating the RMB3 billion target.
DCL Investments, a China-based distressed debt and special situations manager, is targeting around $500 million for its first US dollar-denominated fund, hoping to leverage renewed interest from foreign investors in this space.
Klook, a Hong Kong-headquartered booking platform for attractions, tours, dining and local experiences, has raised $225 million in an extended Series D round led by SoftBank Vision Fund.
China-based Shenma Chuxing, which provides trading services for electric vehicle (EV) and hybrid dealers, has raised $20 million in Series A funding from South Korea’s KTB Ventures and China’s Frees Fund.
China-based Harvest Capital, formerly known as Sino-Can Harvest Capital (SCHC), has reached a first close on its new consumer-focused fund at RMB3 billion ($446 million).
Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), formerly a partner at Sequoia Capital China, has closed two new US dollar vehicles at $570 million.
Boomplay has leveraged demand for its Chinese parent's smart phones to become the leading music streaming platform in Africa. Maison Capital and Yunshi Capital were sufficiently impressed to back a $20 million Series A round
Lelecha, which operates around 35 milk tea stores across China, has raised RMB200 million ($29 million) in a Pre-Series A round of funding led by Vertex Ventures China.
China-based convenience store chain operator Linji has raised $30 million in Series B funding led by Capital Today China Group, with participation from existing investor Source Code Capital.
Miaojiankang, a China-based company that provides health data tracking, management, and analysis services through an online platform, has raised RMB500 million ($74 million) in a Series C round from China Pacific Insurance and Xiran Capital.
The China-Belarus Industrial Investment Fund, an investment vehicle under China Merchants Group, has led a $41 million Series C round of funding for Shenzhen-based Zhuiyi Technology, an artificial intelligence start-up specializing in chatbots.
China’s new foreign investment law appears to make life easier for overseas investors in some areas, but uncertainty remains in others. Industry participants are waiting for more details to emerge in 2020
China-based Zhongneng United, which rents out aerial work platforms that provide temporary access to inaccessible areas, has raised $50 million in Series B funding led by Source Code Capital.
Qiming Venture Partners has led a RMB200 million ($30 million) Series B round for Emergen, a Chinese company that designs intelligent operating systems for factories and produces industrial robots.
Gobi Partners has launched a $20 million fund with Fatima Ventures, the corporate VC arm of Pakistani conglomerate Fatima Group, to tap opportunities in the country.
China-based Dingdang Kuaiyao, an online-to-offline (O2O) medicine retailer, has raised RMB600 million ($89 million) in a new round of funding led by existing investor Softbank China Venture Capital.
Yipinshengxian, a China-based fresh food discount supermarket operator, has raised RMB2 billion ($297 million) in a Series B round of funding led by Tencent Holdings.