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.

DCM leads $15m Series A for Vip Think

Vip Think, a Guangdong-based pre-school learning platform focused on science, technology, engineering and mathematics, has raised $14 million in a Series A round led by DCM, 36Kr reported. Sinovation Ventures also participated. The proceeds will be used for course expansion and artificial intelligence (AI) technology enhancement to improve users' online learning experience.

JekunAuto closes $15m Series B

JekunAuto, a Guangzhou-based online platform that provides on-demand auto maintenance services, has completed a RMB100 million ($14.8 million) Series B round backed by Langsheng Investment and Zhanze Investment, Iyiou reported. JekunAuto has also started working with Sinopec Guangdong to expand its offline stores.

Longmi Agriculture secures $4.4m pre-Series A round

Longmi Agriculture, a Guangzhou-based agricultural products e-commerce platform, has secured RMB30 million ($4.4 million) in a pre-Series A round backed by Chengdu Deshang Qidian Equity Investment, United Capital, and Huihe Investment, among other investors, Pencilnews reported.

A-Rings Film raises $2.9m through NEEQ offering

A-Rings Film, a Chinese marketing company involved in new media, film and television, has raised RMB20 million ($2.96 million) through a share issue on China's National Equities Exchange & Quotations (NEEQ), or New Third Board, ChinaIPO.com reported. The company issued more than 1.7m shares at RMB11.67 apiece.

Shenzhen Capital, GZVCM back Chishine 3D 

Chishine 3D, a Xi'an-based 3D digital and intelligent hardware developer, has completed a Series A round of approximately RMB10 million ($1.5 million) backed by Shenzhen Capital Group and the National SME Development Fund (GZVCM), Lieyunwang reported. The proceeds will mainly go towards technology R&D, team expansion, and market development.

Lihexing raises $19m round led by Capital Fortune

Lihexing, a Shenzhen-based industrial automation equipment provider, has raised RMB128 million ($18.9 million) in a funding round led by Shenzhen Capital Fortune Investment, Iyiou reported. Cowin Capital also joined this round. The company was established in 2006 and listed on NEEQ in 2015.

Tiantu joins $15m round for furniture designer Uvanart

Uvanart, a Foshan-based furniture design company, has raised close to RMB100 million ($14.8 million) in a round led by Tiantu Capital, GF Xinde, and Hanze Capital, 36Kr reported. The company will focus on developing new IT retail systems, expanding new channels, building warehousing logistics, and investing in brand building.

Delta, IDG, Shunwei back lidar player Benewake

Benewake, a Beijing-based solid-state lidar manufacturer, has raised an undisclosed amount for the second tranche of a Series B round, Pencilnews reported. Investors include Delta Capital, Keywise Capital, Cathay Capital, IDG Capital, and Shunwei Capital. The proceeds will mainly be used to increase R&D investment and expand production capacity. Benewake's products can be used in autonomous driving, drones, smart robots, and warehouse logistics.

Coinsuper secures pre-Series B led by Unbound

Coinsuper, a Chinese cryptocurrency exchange providing professional digital asset trading and customized services, has secured an undisclosed amount in a pre-Series B round led by London-based Unbound, according to Cointelegraph and Zhongbi.net. Sky9 Capital, Fin Venture Capital, and West World also joined the round. The funding will enable Coinsuper's virtual asset trading platform to extend its ecosystem to serve professional investors.

Zhaoke Innovation leads Series A for Tigerweld

Tigerweld, a Guangdong-based developer of robotics and computer-integrated manufacturing products, has completed a Series A round of approximately RMB10 million ($1.5 million) led by Foshan Zhaoke Innovation Intelligent Industry Investment Fund, according to gg-robot.com. South Guangdong Higher Education also participated.

Newgen VC backs education business Daoyuanketang

Daoyuanketang (DYKT), a Beijing-based education resources producer and distributor, has raised around RMB10 million ($1.5 million) in a Series A-plus round backed by Newgen Venture Partners, Lieyunwang reported. The proceeds will mainly be used for investment in technology R&D and product development.

SAIF backs $14.6m Series A-plus for Jumeng

Jumeng, a Shanghai-based developer of a logistics service platform, has raised RMB100 million ($14.6 million) in a pre-Series A-plus round backed by SAIF Partners, Iyiou and Chinaventure reported. The company previously secured more than RMB100 million in a pre-Series A that featured IDG Capital.

Estar, Xingtao back Langxian Lightweight round

Langxian Lightweight, a Wuxi-based manufacturer of automotive lightweight molds, has completed a Series B-plus round of undisclosed size, Newseed reported. This round was co-led by Estar Capital and Xingtao Investment. The company collaborates with the likes of SAIC GM, Magna, Dongfeng Motor, and Great Wall Motor.

China Growth Capital provides Series A-plus for Fintell

Fintell, a Beijing-based risk control technology company that services financial services clients, has secured around $10 million in Series A-plus funding from China Growth Capital, Lieyunwang reported. The capital will be mainly used for recruitment, hardware and cloud platform construction, and brand and market investment. Based on big data and artificial intelligence (AI), Fintell's services include including credit and anti-fraud risk controls, risk pricing, and asset valuation.

Zhongnong Puhui raises $5.9m in pre-Series A

Zhongnong Puhui, a Beijing-based agricultural plantation management services provider, has raised RMB40 million ($5.9 million) in a pre-Series A round led by GXYJ.com, 36Kr reported. CreditEase New Financing Industrial Investment Fund also took part. The capital will go towards upgrading core software-as-a-service (SaaS) products and smart internet of things hardware procurement.

Kaitai, Decent make angel commitment to Wangbaobao

Wangbaobao, a Hangzhou-based oatmeal brand, has secured approximately RMB10 million ($1.5 million) in an angel round backed by Kaitai Capital and Decent Capital, Pencilnews reported. The proceeds will be used for production capacity enhancement, marketing, and expansion into new product categories.

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