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Chinese biotech company Immunochina completes Series C: Startup Funding Roundup – China (Jan 21 to 27)

‘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 30, 2019 by Yun Nie
Chinese biotech company Immunochina completes Series C: Startup Funding Roundup – China (Jan 21 to 27)

The investments in the Chinese market nosedived (27) between January 21 and 27, 50 less than the week before.

Healthcare topped with six investments accounting for 22% of the entire funds raised during the time. Hardware and education followed at 12% and 8% respectively (see details in the Chart below).

The majority of the funding remained in mid and late stages (eight acquisitions and six strategic investments).

Chinese e-commerce tycoon Alibaba (阿里巴巴) and (京东) joined in two investments, while Tencent (腾讯) and Baidu (百度) had a silent week. Let’s take a closer look at the interesting transactions.

On January 24, Chinese innovation-based enterprise Sunmi Technology (商米科技) secured at least CNY 100 million (USD 14.8 million) in a Series C+ round. Alibaba’s financial unit Ant Financial is the sole investor. The deal values Sunmi Technology at USD 443 million. Details of how the company plans to use the fresh capital were not revealed.

Founded in 2013, Sunmi Technology specialises in providing O2O internet platforms, software developers, and traditional businesses with professional intelligent commercial hardware equipment.

On the same day, Aobag (奥北环保), a Chinese garbage classification and recycling service startup, secured a USD 1.5 million Angel from e-commerce giant and venture capital firm FREES FUND (峰瑞资本). Yang Yong, the founder and CEO of Aobag, said the proceeds of the deal will be used for business expansion and team development.

According to Yahoo News, China is the world’s biggest trash generator, producing 500,000 tons of garbage each day. The amount of trash produced daily in China is expected to reach almost 1.4 million tons daily in the next 8 years. Aobag focuses on solving the trash problem of China.

On January 23, Beijing-based biotech company Immunochina (艺妙神州) announced the completion of CNY 140 million (USD 20.8 million) Series C round of funding led by Beijing Shougang Fund (首钢基金), China-Belgium Direct Equity Investment Fund (华润创新股权投资基金), Peter Thiel, Qingzhe Capital and Sherpa Capital (夏尔巴创投). This transaction will enable the company to expand its GMP-grade manufacturing capabilities and speed up its CAR-T development programs.

Immunochina is one of few cell therapy companies in China that develop end-to-end research and development capabilities, according to Chinese tech news publisher (36氪).

On January 21, EKuaibao (易快报), an enterprise expense reimbursement and management platform closed a USD 15 million Series B funding round led by Mandra Capital, and followed by FutureCap (明势资本), Yinxinggu Capital (银杏谷资本) and DCM Ventures.

Founded in 2014, EKuaibao covers travel application, travel and expense booking, reimbursing, paying, book keeping and analytics reporting. The company has raised a CNY 30 million (USD 4.45 million) Series A from DCM Ventures in 2016, and a CNY 13 million (USD 1.9 million) Series pre-A from FutureCap and Geekbang (极客帮) in 2015.

Check out the details in the following chart.

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

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