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.

Pantera Capital joins $28m round for TDE

Trade Ecology Token (TDE), a Chinese blockchain specialist that focuses on ecosystems that integrate wallet, payment, insurance, and medical care functions, has secured a $28 million investment from US-based Pantera Capital. Initialized Capital and Foundation Capital also participated, iterduo.com reported. TDE was incubated by Catalyst Chain Valley.

Shidafu raises $15m Series A led by Third Rock, Xinlide

Shidafu, a Chinese producer of health foods, has raised $15 million in Series A funding led by Third Rock Ventures and Xinlide Capita, Rhino Data reported. US-based life sciences investment fund SSVC and Crosby Capital Partners also took part. Xinlide Capital also served as sole financial advisor.

Hillhouse backs $15m round for Yunshuxie

Yunshuxie, a Beijing-based reading and writing solutions provider for K12 students that operates through offline classes and an online reading club, has raised nearly RMB100 million ($14.9 million) in a Series B round led by Hillhouse Capital, 36Kr and PEdaily reported. Zhuoli Capital also participated. Hunger Capital served as sole financial advisor.

Hope n Rising secures pre-Series A led by XVC

Hope n Rising (HnR), a Shanghai-based education services provider that targets parents, has completed a multi-million-dollar pre-Series A round led by XVC, 36Kr reported. The company previously received angel funding from Source Code Capital in June 2018. This led to HnR transitioning from a content production specialist into an online education business.

AI specialist Deepglint receives $5m from Hyundai

Deepglint, a Beijing-based computer vision and artificial intelligence (AI) specialist, has received a $5 million investment from South Korea’s Hyundai Mobis, Gasgoo reported. This investment will enable Hyundai Mobis to acquire face recognition and behavioral pattern analysis technology based on deep learning and AI to better understand the needs of drivers and passengers. 

Angel Plus backs Series A for Heqi Auto

Heqi Auto, a Beijing-based auto after-sales services provider, has completed a Series A round backed by Angel Plus, Newseed reported. The capital will be used to expand its one-stop car parts supply service, upgrade IT systems, and accelerate development of an artificial intelligence-enabled platform for matching buyers and suppliers.

ZSY Capital leads $10m pre-Series A for Fenlai

Fenlai, a Shenzhen-based operator of e-commerce shopping platform with short video content, has completed a $10 million pre-Series A round at a post-money valuation of $100 million. It was led by ZSY Capital, Pencilnews reported. I-Capital and QF Capital also joined the round. The new funding will go towards expanding content categories on the platform, recruiting influencers, and boosting user numbers.

Justin&Julie Fitness plans new fundraise

Justin&Julie Fitness, a Shanghai-based fitness studio, plans to kick off a new round of fundraising and open 30-50 new stores this year after securing a multi-million-dollar pre-Series A round from Susquehanna Asia Investment (SIG), 36Kr reported. Established more than a year ago, the company has opened three locations in Shanghai that serve more than 10,000 users, with monthly turnover of nearly RMB1 million.

Maxim, Handing back $4.5m Series A for VPO 

VPO, a Shenzhen-based e-cigarette brand, has raised RMB30 million ($4.5 million) from Maxim Capital and Handing Capital, according to a company announcement and a report by 36Kr. The company plans to improve product quality and safety, set up an atomization technology lab, expand international market share, and incorporate new retail system and social e-commerce systems.

Ricedonate secures angel funding, launches new round

Ricedonate, a Beijing-based internet public welfare platform, has launched a new funding round following a RMB10 million ($1.5 million) angel investment led by Panda Capital, 36Kr reported. More than 1,200 public welfare organizations have launched projects on the company’s platform with a view to raising funds.

K12 specialist Gaosi Education completes Series D

Gaosi Education, a Beijing-based K-12 education services provider, has secured a Series D round, according to Hexun. The amount raised and the identity of the investors have not been disclosed. The company listed on the National Equities Exchange & Quotations (NEEQ) in 2016 but delisted in 2018.

Baidu Ventures leads Series A-plus for Data Pipeline

Data Pipeline, a Beijing-based streaming data integration service platform, has raised tens of millions of renminbi in a Series A-plus round led by Baidu Ventures, according to a press release and a report run by PEdaily. Matrix Partners China and Crystal Stream Capital also joined this round. The funding will go towards product and service improvements, R&D, and marketing.

Big data marketing platform Htrip raises $9m Series A

Htrip, a Guangzhou-based hotel big data marketing platform, has secured RMB60 million ($8.95 million) in a Series A round, Pencilnews reported. The investors have not been disclosed. Last year, Htrip, which offers big data analysis and application platforms based on hotel mobile information systems, received a RMB10 million pre-Series A round led by JD Capital.

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• Topics
• Greater China
• Early-stage
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• TMT
• China
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• seed