Hillhouse Capital has led a RMB380 million ($55 million) Series C round of funding for Yitu Technology, a Shanghai-based artificial intelligence (AI) technology developer.
Existing investors including Yufeng Capital, Sequoia Capital, Banyan Capital, and ZhenFund also took part in the round. Yitu was founded in 2012 by Long Zhu, who has a PhD in statistics from the University...
The government of Shenzhen, China has launched a VC fund with an initial corpus of RMB500 million ($79 million) to invest in blockchain start-ups in the city.
Sequoia Capital China and Serica Partners have co-led an $11 million Series A round for US-based molecular diagnostics start-up NuProbe.
Shenzhen Capital has joined a $30 million Series C round for US-based 3D printing company Formlabs that will support an expansion effort in China and Asia.