Beijing-based Chinese children’s graded on-line reading platform Koala Reading has raised a US$20 million series B round led by GGV Capital and XVC Venture Capital, according to the company’s announcement.
Tencent-backed Q&A Platform Zhihu Raises $270M Series E Round
Zhihu, a question-and-answer knowledge sharing platform similar to Quora, has raised a US$270 million series E round, announced by Zhou Yuan, founder and CEO of Zhihu, through video at today’s press conference in Beijing.
Qiming Venture Leads $17M Series A Round In Chinese Biotech Firm CureGenetics
Suzhou city, Jiangsu Province-based biotech firm CureGenetics Co., Ltd has raised a US$17 million series A round led by Qiming Venture Partners.
DealShot: Qiming Venture Partners Leads $17M Series A Round In Chinese Biotech Firm CureGenetics
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money each workday.
Alibaba Joins $600 Million Round for Chinese Facial Recognition Start-up Megvii
Megvii Inc., the Chinese developer of facial recognition system Face++, is said to be raising at least $600 million from investors including Alibaba Group Holding Ltd. and Boyu Capital, according to media reports.
Government-backed China Internet Investment Fund Leads $89M Series C+ Round In AI Firm Unisound
Chinese artificial intelligence (AI) solution provider Unisound announced that it has raised a RMB600 million (US$89 million) series C+ round led by China Internet Investment Fund – RMB100 billion fund initiated by Cyberspace Administration of China and Chinese Ministry of Finance.
Qiming Venture Partners Lead $50M Series B Round In E-commerce Platform The Good Stuff
Qiming Venture Partners has led a US$50 million series B round in The Good Stuff, a community-based e-commerce platform.
Chinese Luckin Coffee Raises $200M Series A Round From GIC At Unicorn Valuation
Beijing-based on-demand coffee delivery service start-up Luckin Coffee has completed US$200 million series A round of financing from Singapore’s sovereign wealth fund GIC, China’s Legend Capital, Joy Capital, and Centurium Capital, according to its official announcement.
TPG Growth Leads $60M Series C Round In Chinese Online Ticketing Platform Moretickets
TPG Growth, a global alternative asset firm announced that it has led a US$60 million series C round of financing in Moretickets, China’s online ticketing platform.
Xiaomi Sees Weak IPO Debut In Hong Kong
Chinese smartphone maker Xiaomi had a soft debut at the Hong Kong Stock Exchange this morning as shares began trading at HK$16.6, 2.4% below its listing price (HK$17) which was already at the bottom of the range.
Qiming Venture Leads $37M Round In Chinese Biotech Firm Alpha Biopharma
Chinese biotech firm Alpha Biopharma Inc. announced that it has completed US$37 million of its US$65 million series A financing round led by Qiming Venture Partners.
Tencent-Backed Online Fashion Retailer Meilishuo Plans $500M IPO
Meili Inc., a Tencent-backed online fashion retailer, is planning to raise a total of US$500 million in an initial public offering in the U.S., according to media reports citing insiders.
China’s Venture Capital Market Tops World As $15.6B Deployed In April Alone
Chinese venture capital activity continued its blistering pace of growth in April, with investors inking 209 deals with venture-backed companies worth a total US$15.59 billion. April’s total VC deal value in China was 166% higher than the monthly average in the U.S., according to the China VC Tracker released by China Money Network today.
Qiming Venture Partners Announces Closing Of Three New Funds Totaling $1.4B
Chinese venture capital firm Qiming Venture Partners has announced the closing of three new funds totaling US$1.39 billion.
Chinese AI Medical Imaging Start-up Infervision Raises $47M From Sequoia, Qiming
Infervision, a Chinese artificial intelligence start-up developing medical imaging technology, has announced to complete a RMB300 million (US$47 million) series B+ round from existing investors Sequoia Capital China, Qiming Venture Partners and Genesis Capital.
AV Startup JingChi Makes Peace With Baidu, Joins Apollo As CEO Steps Down
Chinese autonomous driving start-up JingChi Inc. has joined Baidu’s open-source autonomous driving platform Apollo in what appears to be a reconciliation between the two companies.
Wang Jin Resigns From Chinese Autonomous Driving Start-Up JingChi As Baidu Sues Founder
Wang Jin, founder and CEO of autonomous driving startup JingChi Inc. has reportedly stepped down from the company. The move is believed to be in response to a trade secrets lawsuit filed by Baidu Inc. against Wang and JingChi, according to Chinese media reports.
Autonomous Car Firms JingChi, Pony.ai Launch Public Tests Amid Baidu Litigation Threat
Chinese autonomous vehicle startups JingChi Inc. and Pony.ai, both founded by former executives of tech giant Baidu Inc., have launched public tests drive programs for the first time in the southern city of Guangzhou, despite the threat of litigation by their former employer.
Orix Leads $39M Round In Chinese Medical Consumables Management Platform Innostic
Financial services firm Orix Corp has led a RMB250 million (US$39 million) series A round in Innostic, a Chinese medical consumable supply chain management platform.
Fosun Capital Leads $80M Round In Chinese Checkout-Free Convenience Store Operator Bingobox
Chinese private equity firm Fosun Capital has led a US$80 million series B round in Bingobox, a start-up developing fully-automated convenience stores.
Baidu Artificial Intelligence Alumni Raise $300 Million In One Year
When it comes to raising tens of millions of dollars in venture capital, it helps to be a veteran of Baidu’s artificial intelligence units. Over the prior 12 months, former employees of the Chinese tech giant have raised close to US$300 million in VC funding rounds, according to a review of deals by China Money Network.
Google Joins Qiming, Shunwei In Series D Round In Chinese Online Game Streaming Platform Chushou TV
Chinese online game streaming platform Chushou TV announced that it has raised a series D round from Google Inc. and existing investors Qiming Venture Partners, Shunwei Capital and Alpha X Capital.
Baidu Sues Former President And Self-Driving Expert Wang Jing For Allegedly Stealing Trade Secrets
Chinese tech giant Baidu Inc. is suing Wang Jing, formerly head of Baidu’s autonomous driving unit and now founder of self-driving tech start-up JingChi Inc., for allegedly stealing trade secrets.
2017 In Review: China’s Ten Most Active VC Firms Join 460 Deals Worth $22 Billion
China’s venture capital and private equity industry continues to expand at an impressive pace with the top-ten most active firms participating in 460 deals, worth US$22 billion in total. That compares with 399 deals worth US$12 billion in 2016, with total deal value almost doubling from a year ago.
China Online Travel Service Platform Mafengwo Raises $133M From General Atlantic, Temasek
Beijing-based travel service platform Mafengwo has raised a US$133 million series D round from General Atlantic, Temasek, Chinese private equity firm Ocean Link, Chinese venture capital fund Yuantai Changqing fund, and Houpu Investment Management, a private equity firm founded by former Goldman Sachs China Partner Fang Fenglei.
2017 In Review: China Leads World After Minting 22 New Unicorns Worth $37.3B
China continued to be a breeding ground for tech unicorns in 2017, with 22 private companies receiving a valuation of US$1 billion or more for the first time. The 2017 vintage unicorns boast a total valuation of US$37.3 billion, accounting for more than a third of the total newborn unicorns worldwide, and 38% in terms of valuation, China Money Network‘s data shows.
Tencent Leads $400M Round In Chinese Robot Maker Ubtech At $4B Valuation
Chinese humanoid robot maker Ubtech Robotics is raising a US$400 million series C round led by tech giant Tencent Holdings Ltd. with participation from investors whose identities are unknown at this moment. The Shenzhen-headquartered company has been raising this round at least from six months ago, and the final numbers may still change, according to people familiar with the matter.
Chinese Facial Recognition Firm Face++ Raises $460M In Series C Round
Chinese facial recognition firm Face++ has raised US$460 million in a series C round led by China State-Owned Assets Venture Investment Fund, with Ant Financial and Foxconn Technology Group participating, setting a new VC financing record for AI companies globally.
Temasek Co-Leads $72.8M Round In Chinese Fintech Firm Tongdun Technology
Singapore’s state investment firm Temasek Holdings, Chinese investment firm Tiantu Capital and Xindahanshi Capital have led a US$72.8 million new funding round in Tongdun Technology, a Chinese fintech start-up specializing in risk control.
Chinese Autonomous Driving Firm Founded By Baidu Veteran Raises $52M Pre-A Round Led By Qiming
JingChi Inc., a Chinese autonomous driving start-up founded by Wang Jing, former head of Baidu Inc’s Autonomous Driving Unit, has raised US$52 million in a pre-A round led by Qiming Venture Partners. China Growth Capital, Nvidia GPU Ventures and other unnamed investors also participated in the round.
51Job To Buy 60% Stake In Online Recruitment Platform Lagou.com For $120M
Beijing-based online recruitment platform Lagou.com has signed an agreement to raise US$120 million from strategic investor 51job, Inc., a Chinese human resources service provider listed on the NASDAQ. Following the transaction, 51job will hold a 60% shares in Lagou.com, becoming its largest shareholder, according to a statement posted on 51job’s WeChat account and a release issued by 51job.