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.

Neufast plans seed round in 2019

Neufast, a Hong Kong-based AI-powered job-hunting service provider, is seeking to conduct a seed round capital raise in 2019, when the company completes its proof of concept (POC), according to founder and CEO Agnes HS Wun. The size of the seed round will be about $500,000. Some VCs have already approached Neufast but it wants to wait until after it finishes the POC.

Shilily receives $15.7m in VC backing

Shilily, a Shenzhen-based boutique hotel operator, has raised a combined RMB100 million ($15.7 million) in Series B and Series B-plus funding, TravelDaily reported. The Series B was led by N5 Capital with participation from Matrix Partners China. Galaxy Capital served as the sole advisor. The Series B-plus was led by Qingsong Fund, while N5 Capital re-upped. ChuangFA served as the financial advisor.

Lingxiong Rent secures Series A 

Lingxiong Rent, a Shenzhen-based service provider of IT equipment rental, has secured more than RMB100 million ($15.7 million) in a Series A round from JD.com and Fortune Capital, 36Kr reported. The company has launched a new shared office brand called Xiaoxiong U Zu. Lingxiong Rent has eight branch offices throughout the country and its network covers more than 90 cities.

Krund gets $9.3m Series A-plus round

Krund, a Qingdao-based robotics startup, has raised RMB60 million ($9.3 million) in a Series A-plus round from China Merchants Securities Zhiyuan Capital, PEdaily reported. The company’s post-deal valuation is RMB480 million. Krund manufactures customized robots that work as bank receptionists and shopping guides, and in kindergartens.

Juxiu, Meili, Omni Prime back Yinduowang

Yinduowang, a Harbin-based P2P investment platform, has raised RMB60 million ($9.3 million) in a Series B-plus round from Juxiu Capital, Meili Finance, and Omni Prime, Iyiou reported. The proceeds will be mainly used for business development, recruitment, and R&D.

Helios-Huaming gets pre-Series A

Helios-Huaming, a Suzhou-based healthcare company that develops anti-cancer drugs targeting new epigenetic enzymes, has secured RMB10 million ($1.6 million) in a pre-Series A round from Oriza Holdings, according to Rhino Data. Helios-Huaming has already obtained three patents.

Ameba provides pre-Series A for InData

InData, a Hangzhou-based data intelligence provider that focuses on big data and artificial intelligence (AI) technologies, has raised tens of millions of renminbi in a pre-Series A from Ameba Capital, Pintu reported. InData focuses on enterprise-class big data platforms, information logistics, new retail supply chains, and internet-of-things automation. The company holds patents and copyrights in the AI, voice recognition, and industrial knowledge mapping industries.

VCs commit $1.6m to Qifeng Finance

Qifeng Finance, a Beijing-based blockchain finance and technology media company, has raised RMB10 million ($1.6 million) in angel funding from Innoangel Fund, Grey Tile Capital, and Capital Development Investment Fund, according to Newseed and ITjuzi. The proceeds will go towards improving media content, talent development, and establishing a blockchain research institute.

Baitongshiji secures Series A round

Baitongshiji, a Beijing-based professional training company that focuses on the healthcare sector, has secured tens of millions of renminbi in a Series A round from Tianjin Tiandiqingchou Venture Capital, Iyiou reported. The proceeds will be mainly used for product upgrades, including improvements to augmented reality (AR) teaching aids.

GSR United leads round for Cipher Trading

Cipher Trading, a Shanghai-based provider of investment management and analysis solutions, has raised tens of millions of renminbi in a pre-Series A round led by GSR United Capital, with participation from FreesFund, PEdaily reported. This round of financing will support team expansion and product development. 

Ultrain gets angel funding from Morningside

Ultrain, a Chinese company dedicated to solving blockchain infrastructure layer technology problems, has raised tens of millions of renminbi in an angel round led by Morningside Venture Capital, according to PEdaily and ITjuzi. Aplus Capital and Draper Dragon Fund also participated in the round. Ultrain focuses on the blockchain consensus algorithm, operating system architecture, edge computation, and blockchain network governance.

Meipingxiuxiu secures pre-Series A

Meipingxiuxiu, a Beijing-based media and entertainment company that provides big screen marketing solutions to bars and pubs, has secured tens of millions of renminbi in a pre-Series A round led by 51xinyongka and Zhejiang Baoxiniao Venture Capital, according to 36Kr. Hangzhou Wanhao Investment Management also took part in the round.

Jiuzhouzhixing leads round for Yunzhiwulian

Yunzhiwulian, a Beijing-based shared towel paper operator, has raised RMB10 million ($1.6 million) in a pre-Series A round led by Jiuzhouzhixing Investment, 36Kr reported. Yiyun Investment and other investors also participated. The proceeds will be used for market development and software and hardware development.

Geekbeans leads Series A for Maya Miner

Maya Miner, a Guangzhou-based manufacturer of distributed storage virtual currency mining machines, has received RMB50 million ($7.8 million) in Series A funding led by Geekbeans Capital, with participation from Byte Capital, according to 36Kr and ITjuzi. The proceeds will go towards product optimization, brand building, and team expansion.

China Creation Ventures backs Baizu

Qichuang Technology, the Hangzhou-based operator of Baizu, a B2C rental marketplace that enables consumers to rent appliances from accredited businesses, has secured several millions of renminbi in a pre-Series A round from China Creation Ventures, 36Kr reported. Qichuang Technology supports rentals for electronics and home appliances, such as gaming equipment, cameras, toys, and computers.

IDG leads Series A for Orange Dental

Orange Dental, a Shanghai-based provider of dental services to children in a gamified way, has secured tens of millions of renminbi in a Series A round led by IDG Capital, Lieyunwang reported. Dalton Venture and DianLiang Capital also participated in the round. Orange Dental plans to open 20 clinics in Shanghai and Tianjin this year.

Chinese, Japanese investors support Newestage 

Newestage, the developer of Stager Live, a live-streaming mobile app in Japan, has raised tens of millions of renminbi from Chinese and Japanese investors, 36Kr reported. Investors include SIG, Gree Ventures, Mizuho Venture Capital, K2VC, Plum Ventures, Crystal Stream Venture Capital, and Pierrot. Newestage is operated by Beijing Xinhanghai Network Technology.

Caihongdao raises seed funding

Caihongdao, a Hangzhou-based taekwondo training services provider for children, has received several millions of renminbi in a seed round from undisclosed investors, Lieyunwang reported. The proceeds will be used for market development. The company has also launched a new angel round that is expected to raise about RMB20 million ($3.1 million).

Xiao Yang Education secures Series A-plus

Xiao Yang Education, a Beijing-based education technology company that provides smart campus and education cloud solutions to middle and primary schools, has raised tens of millions of renminbi in a Series A+ round, Toutiao reported. Investors include ZhenFund, Toutiao, Lan Fund, Yunqi Partners, and Ameba Capital.

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