This website requires JavaScript.

Indonesia-based Akulaku secures USD 100 million from Ant Financial: Startup Funding Roundup – China (Jan 7 to 13)

‘Startup Funding Roundup’, the weekly report prepared by The Passage team, provides detailed information about venture capital financing, fundraising, investments and acquisitions in China.

Jan 16, 2019 by Yun Nie
Indonesia-based Akulaku secures USD 100 million from Ant Financial: Startup Funding Roundup – China (Jan 7 to 13)

According to online news publisher (桔子), a total of 76 investments and acquisitions took place between 7 -13 January, a 13 basis point increase from the previous week.

Software as a service (SaaS) remained the preferred sector (12 investments) accounting for 16% of the entire funds.

In terms of funding stages, Series A came first (21), followed by Angel round (15) and strategic investments (14).

While China’s tech mammoth Baidu (百度) and (京东) had a silent week, Alibaba (阿里巴巴) participated in three funding rounds. Let’s take a quick look at the most interesting investments.

Youdian Technology (优点科技) secures USD 103.5 million in Series B

On 13 January, China’s IoT (Internet of Things) platform Youdian Technology closed CNY 700 million (USD 103.5 million) in a Series B funding round from China’s e-commerce behemoth Alibaba.

Founded in 2017, Youdian specialises in security systems. The startup has completed four rounds of financing so far, reported (36氪).

Akulaku raises USD 100 million in Series D

On 10 January, Indonesia-based financial company Akulaku secured a USD 100 million from Alibaba’s financial arm Ant Financial (蚂蚁金服) in Series D.

The strategic investment will help expand Alibaba’s footprint in Southeast Asia. Established in 2014, Akulaku started out as a virtual credit card platform and diversified into online payment services.

Medbanks (思派网络) closes USD 59 million deal in Series D

On 10 January, Chinese oncology database platform Medbanks closed a CNY 400 million (USD 59 million) in a Series D round involving China’s internet giant Tencent (腾讯). The round was co-led by CLP Fund (中电中金基金) and CDH Investments (鼎晖投资). Existing investor Tencent, F-Prime Capital Partners, Eight Roads Ventures and IDG Capital (IDG 资本) participated.

The company said the fresh capital would be used to expand clinical network and update database system.

Established in 2014, Medbanks operates a data service platform for cancer centres, clinicians, scientists and pharmas in China. The startup uses “sky eye hardware” to track patients through the course of cancer treatment, according to

Benewake (北醒光子) completes Series B2

On 9 January, Chinese LiDAR maker Benewake closed Series B2 financing round jointly led by Delta Capital (达泰资本), Keywise Capital (凯思博投资) and Cathay Capital (凯辉汽车基金). Existing investors including IDG Capital and Shunwei Capital (顺为资本) also participated in the round.

The funds would be used for R&D, manufacturing of laser radars (LiDAR), upgrade existing products and boost productivity, reported

Founded in 2015, the high-tech company offers solid-state LiDAR sensors and solutions for autonomous vehicles, drones, smart-home robots and AGV.

Miaoshou Doctor (妙手医生) secures USD 74 million in Series C+

On 7 January, Chinese healthcare service provider Miaoshou Doctor finished a CNY 500 million (USD 74 million) Series C+ funding round led by Starquest Capital(星界资本). Sequoia Capital China (红杉资本中国) participated in the round.

The fresh injection would be used to upgrade Miaoshou’s online hospital platform, treatment record tools and management system, reported (动脉网).

Established in 2015, Miaoshou Miaoshou focuses on building an online communication service platform between patients and doctors. The firm has received USD 152.6 million in two funding rounds as of now.

Following is part of the investments highlighted by

Yun Nie

Yun Nie is a New York-based tech reporter. She focuses on India-China financial market, global IT giants and technology-centric market trends. She can be reached at

Follow Yun Nie