China early-stage investment round-up

This is a selection of venture capital investments into China-based start-ups. It was compiled by Mergermarket, AVCJ's sister title, based on proprietary reporting and content published by third-party sources.

BR Human Resourcing plans minority stake sale

BR Human Resourcing, a Shanghai-based human resources service provider, plans to seek growth capital to scale its market footprint in China, Partner Lancy Qi told Mergermarket. BR has not decided on the exact fundraise size but aims to sell a minority stake to a strategic investor. The company provides strategic consulting and talent hunting services for clients in the automotive, finance, real estate, IT and pharmaceutical sectors, Qi said. It posted an annual revenue of about RMB10 million ($580,000) in 2017 and is wholly owned by the management team, Qi said.

Tuxiaoer raises Series A led by Fortune Capital

Tuxiaoer Technology, a Shanghai-based hotel operations service platform previously known as Sanfeng Technology, has raised more than RMB100 million ($15.7 million) in a Series A round led by Fortune Capital, Ebrun and PEdaily reported. Other investors in the round include Junshang Capital, Zhongxiang Capital, and Chenfeng Investment. Tuxiaoer provides hotel one-stop operating services including customer relationship management, marketing, housekeeping services and online training. The company aims to increase its coverage from the current 30 cities to 70 cities by the end of 2018.

Microidea Technology secures $12.6m Series B

Microidea Technology, a Hangzhou-based social e-commerce platform that focuses on the development and commercialization of personal brands for internet celebrities, has secured RMB80 million ($12.6 million) in a Series B round, PEdaily reported. Investors include Sina Weibo, Mango Cultural Creativity Fund, and Chenhai Capital.

Sequoia provides angel funding for Clustar

Clustar, a Beijing-based big data and artificial intelligence (AI) solutions provider, has received tens of millions of renminbi from Sequoia Capital China in an angel round, Lieyunwang and 36Kr reported. Clustar has built a data modeling and machine learning development platform for AI developers. 

Jun Hui Biotech gets pre-Series A led by Anlong Fund 

Jun Hui Biotech, a Suzhou-based biotechnology company that focuses on developing clinical applications of single cell detection, has raised tens of millions of renminbi in a pre-Series A round, The Founder reported. This round was led by Anlong Fund, which focuses on early-stage investments in life sciences and healthcare.

Hans Films China secures backing from film industry fund

Hans Films China, a Chinese advertising company focusing on TV commercial communication, has raised an undisclosed amount of capital in a Series A round from Jingjinji Huaxia Jicai Dachang Film Industry Development Fund, PEdaily reported. The proceeds will be mainly used for corporate brand promotion and innovation. Established in 2003, Hans Film China has offices in Beijing, Shanghai, Guangzhou and Hong Kong.

E-commerce player invests in leasing platform iLezu

ILezu, a Hangzhou-based smart goods leasing platform that focuses on 3C smart commodity leasing services, has received more than RMB10 million ($1.6 million) through a strategic investment from Zol.com.cn, an e-commerce site that offers a variety of electronics and appliances, 36Kr reported. ILezu takes iPhone merchandise leasing as an entry point to provide multi-category smart merchandise leasing and consumption services.

SaaS specialist Zhenlv Technology gets angel round

Zhenlv Technology, a Suzhou-based developer of SaaS (software-as-a-service) enterprise cloud service system for the travel industry, has raised several million renminbi in an angel round at a valuation of almost RMB100 million ($15.7 million), China Travel News and Pencilnews reported. The investors are ChinaEquity Group, Cornerstone Capital, and Guokun Investment. The company plans to use proceeds to optimize its supply chain, improve operations, and enhance technological services. Established in September 2017, Zhenlv Technology is backed by Tongcheng incubator.

Geekbeans Capital, Bi Te Mi Fund back CumeBox

CumeBox, a Guangzhou-based secure private cloud intelligent hardware, has secured tens of millions of renminbi from Geekbeans Capital and Singapore-based Bi Te Mi Fund, 36Kr reported. Established in May 2015, CumeBox provides file storage and sharing experience for individuals, families, small and micro enterprises protecting user data privacy and security.

Chengguang completes $15.7m Series C

Chengguang, a Beijing-based online platform that provides interactive content, has raised RMB100 million ($15.7 million) in a Series C round led by Atlas Capital, PEdaily reported. Guojin Capital and Greenwoods Investment also participated in the round. Established in 2012, Chengguang has reached more than 48 million users by the first quarter of 2018, and the monthly active users exceeded 3.5 million.

Qingtianzhu raises $7.9m Series A 

Qingtianzhu, a Hangzhou-based automobile and SME finance services provider, has raised RMB50 million ($7.9 million) in a Series A round from Zhejiang Lechuang Investment Management, according to Lieyunwang. Qingtianzhu has 160,000 registered users. It has also obtained an ICP license issued by regulators in Zhejiang province.

Galaxy Star invests $2.4m in Shouxing Tech

Shouxing Tech, a Shenzhen-based car B2B trading platform, has secured RMB15 million ($2.4 million) in a pre-Series A round from Galaxy Star Equity Investment Management, according to Pintu and Ebrun. The funds will be mainly used in the content-extracted car comprehensive exhibition hall and expand the supply chain to connect upstream and downstream segments.

CyclePlus receives funding from Heyi Capital

CyclePlus, a Beijing-based mobile chain bike shop that operates through a smart SaaS (software-as-a-service) platform, has raised RMB4 million ($630,000) in an angel round from Heyi Capital, Lieyunwang and Cyzone reported. The proceeds will be used to expand the company's market footprint and operation in China. The company targets amateur cyclists, which means market giants such as Ofo and Mobile do not pose a direct threat.

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• Topics
• Greater China
• Early-stage
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• seed