Singapore’s Temasek Leads $100M Round In Chinese Robotics Firm Rokid

Singapore’s Temasek Holdings has led a new funding round in Rokid, a Chinese robotics start-up. Investors including Credit Suisse Group, CDIB Capital International, and existing investor IDG Capital also participated in the round, Rokid announced on its Wechat official account. The company did not disclose the amount it raised, but Chinese media reports put the number at US$100 million. Rokid did not immediately respond to China Money Network’s inquiry to confirm the figure. The new round values the company at …

From University To Rising Star, How One Chinese AI Start-Up Aims To Make China "Smart"

Yao Song, founder of upstart Chinese artificial intelligence (AI) start-up DeePhi Tech, has a nickname: "Boss Yao". The 25-year-old Tsinghua University graduate has been on a winning streak so far. After securing a victory at a national physics competition championship, Yao was admitted into China’s top university to study electrical engineering without having to take the university entrance exam. While at Tsinghua, he chaired a prominent student science association and organized innovation competitions on campus.

Chinese AI Facial Recognition Firm CloudWalk Technology Raises 75M Series B Round

Shunwei Capital, Oriza Holdings and Puhua Capital have led a RMB500 million (US$75 million) series B round in CloudWalk Technology Co., Ltd., an artificial intelligence facial recognition firm whose technology is widely applied in the financial, public security and aviation sectors. Yuexiu Financial Holdings Group, Shenzhen Qianhai Xingwang Investment Co. and a fund co-invested by Galaxy Holding and Zhangjiang Group participated in the new funding round. Cloudwalk also received RMB2 billion (US$301 million) from the government of Guangzhou to set up …

China May Own More Artificial Intelligence Patents Than US By Year-End

China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.

Google-Backed Mobvoi Dreams Of Powering Smart Hardware Revolution

Zhifei Li, founder of Chinese artificial intelligence firm Mobvoi, once joked in a Wechat post that the best business model for a Chinese AI company was to become an Internet celebrity via smart marketing and then pivot to become an e-commerce firm. But, he added self-deprecatingly, "because I’m not handsome enough and my Mandarin is terrible, I choose to sell premium hardware powered by our own proprietary AI technology."

Shunwei’s Meng Xing Says Chinese AI Startups Need Niche Products To Survive And Thrive

To say that Meng Xing, V.P. and entrepreneur-in-residence at Chinese venture firm Shunwei Capital, has been busy would be a gross understatement. Over the past ten years, the 31-year-old venture capitalist and entrepreneur has founded two artificial intelligence (AI) start-ups, selling one, an image recognition AI company, to Amazon and the other to a listed Chinese company. In between, he worked as an investment banker at J.P. Morgan Hong Kong and casino giant Caesars Entertainment, on top of getting an …

Here Are China’s Top 10 AI Companies Challenging US Tech Leadership

Think of China as the world’s factory no more. The Middle Kingdom has been rising in technological sophistication at light speed in recent years, fueled by top-down policy encouragement and venture capital funding. Ten years from now the world’s second biggest economy – though China should already be the world’s biggest economy long before that – could well be the leading power in the next exciting tech frontier: artificial intelligence (AI), projects Dr. Kai-Fu Lee, founder of Sinovation Ventures and …

Baidu Ventures Appoints Former Legend Star Partner Liu Wei As CEO

Baidu Inc. has hired Liu Wei, formerly a partner at Legend Holdings’ venture arm Legend Star, as the chief executive officer of its early stage investment unit Baidu Ventures. Launched in October 2016, Baidu Ventures aims to back artificial intelligence, virtual reality and augmented reality projects.

Qiming Venture Partners Announces the Successful Closing of Fund V at $648 Million

SHANGHAI, Feb. 2, 2016 /PRNewswire/ — Qiming Venture Partners ("Qiming"), a leading venture capital firm in China, today, announced the successful closing of Fund V, its fifth US Dollar venture capital fund with $648 million in commitments. This fund continues Qiming’s strategy of funding innovations through outstanding Chinese entrepreneurs in the Information Technology, Internet and Consumer ("Intersumer"), Healthcare, and Cleantech sectors. Qiming’s assets under management now is $2.5 billion after its debut in 2006.

Qiming’s portfolio includes over 160 investments distributed among its targeted sectors. Qiming Venture Partners invests in early-stage and expansion-stage deals, with over 50% of its investments in early stage companies.

Qiming takes great pride in its investment team. Managing Partners Duane Kuang, JP Gan, Gary Rieschel, Nisa Leung, and William Hu are all recognized leaders in their respective areas and within the venture capital community. They are proud to be joined by Partners Yong Zhang, Grace Lee, Janet Yu, Helen Wong, Jing Wu and Kuantai Yeh as the leadership team for Qiming. In addition, with this fund closing, Peter Yin, Stella Zhou, Shiyu Wang, and Jay Yin join the senior investment team as Principals. This team’s stability is a clear differentiator in China among both entrepreneurs and limited partners.

There are currently over 50 staff within the firm, and all the senior team members have the combination of investing and operating experience coveted by today’s Chinese entrepreneurs.

Some of Qiming’s investments include:

  • Xiaomi, one of the fastest growing companies in history and a leading smartphone and application developer in China
  • Dianping, a leading dining and lifestyle information site and mobile application provider in China
  • iTutorGroup, a premier online education platform with four award-winning service product businesses, including VIPABC, TutorABC, VIPABCJr and TutorABCJr
  • Mogujie, a leading female social e-commerce community in China
  • Meitu, a leading photo editing and self-photographing application developer and smart phone provider in China
  • Bilibili, the most popular video sharing website and community for animation, comic and game fans in China
  • Tigermed, Asia’s leading clinical research organization
  • Gan & Lee, a leading insulin company in China
  • Zai Lab, a leading biotech company in China developing innovative medicines, focusing on large unmet medical needs in China
  • We Doctor Group, former named "", a China’s leading mobile-healthcare service provider
  • HyperStrong, an integrated solution provider for battery management & energy storage system in China
  • Face++, a world leader in face recognition and machine learning technology and applications
  • UBTech, a leading player in consumer robotics and artificial intelligence

"Congratulations to Qiming on the successful closing of the fifth US dollar Fund!" said Zhang Tao, the Founder of and the Chairman of China Internet Plus Holdings Ltd. (merged entity of Meituan and Dianping). "We have enjoyed working with Qiming over the years, and we really appreciate Qiming’s support and strategic insight," Zhang added.

Jim Millar, Managing Director at Princeton University Investment Company, described Qiming as follows: "Qiming has built a strong reputation as a leading venture capital firm in China and is notable for its partnership-oriented culture, both within the firm and with entrepreneurs. We are proud to have partnered with Qiming from the very beginning as its anchor investor."

Ed Grefenstette, President and CIO of The Dietrich Foundation, said, "Today’s venture market in China presents more opportunities and challenges than ever. Qiming enjoys that rare combination of extraordinary talent, experience and discipline. That’s why we believe they’ll continue their remarkable success."

Most of the LPs in Qiming V are returning LPs from prior Qiming funds, including Princeton University, MIT, Robert Wood Johnson Foundation, Duke University, Commonfund, Hall Capital Partners, Mayo Foundation and the Dietrich Foundation among others.

About Qiming Venture Partners

Founded in 2006, Qiming is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou and Hong Kong. Qiming currently manages five US Dollar funds and three RMB funds with US$2.5 billion assets under management.

Qiming strives to be the investor of choice for top entrepreneurs in China. Since our debut, we have backed over 160 young, fast-growing and innovative companies across China in the internet and consumer ("Intersumer"), healthcare, information technology and clean technology sectors. Over 30 of them are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange, and Shenzhen Stock Exchange or achieved exit through M&A. Many of our portfolio companies are today’s most influential brands in their respective sectors, including Xiaomi, Dianping, iTutorGroup, Mogujie, Meitu, Bilibili, Tigermed, Gan & Lee, Zai Lab, We Doctor Group, HyperStrong, Face++ and UBTech. Qiming consistently ranks among the top venture firms in terms of returns to its investors.

Qiming drives innovation and growth of business enterprises and promotes overall industry advancement and social development. With access to our partners’ experience and global network as well as our excellent industry background, we spare no efforts in helping our entrepreneurs and their companies succeed!

For further information, please contact:

Gloria Yang
Tel: (86 21) 61016522 
Fax: (86 21) 6101 6512
Email: [email protected]

China’s Face++ Completes $25M Series B+ Financing Round

Beijing-based face recognition technology firm Face++ has completed US$25 million series B+ round of financing led by undisclosed investors, according to Chinese media reports. Founded in 2012, Face++, operated by Megvii Inc and Beijing Kuangshi Technology Co., Ltd., provides free application programming interface (API) and software development kit (SDK) of face detection, recognition and analysis. It received angel investment from Legend Star, a Chinese incubator program launched by Legend Holdings. In 2013, Face++ raised several million U.S. dollar series A …

Qiming, Innovation Works Lead $22M Series B For Face++

Beijing-based face recognition technology platform Face++ has received US$22 million series B financing from Qiming Venture Partners and Innovation Works, according to the official Weibo account of Kai-Fu Lee, founder of Innovation Works. The latest financing round reportedly valued the company at US$100 million.