‘Startup Funding Roundup’, the weekly report prepared by The Passage team, provides detailed information about venture capital financing, fundraising, investments and acquisitions in China.
Investments in Chinese market doubled to 120 in the last week of 2018 (December 24 to 30). Healthcare topped with 23 investments, accounting for 19% of the entire funds raised. Software as a service (SaaS) and hardware accounted for 18% (22) and 16% (19) respectively.
As many as 43 Series A, 20 strategic investments and 15 Angel funding took place through the week.
While JD.com (京东) ended its four-week hiatus, five Chinese enterprises filed for IPO last week. Check out the important investments below.
On December 24, Qianwei Yangchu (千味央厨), a supply chain solution provider for catering industry, secured CNY 100 million (USD 14.5 million) in Series A round led by China e-commerce behemoth JD.com. Snack food firm Juewei Food (绝味食品) also came in on the round.
The fresh funds will be used to build manufacturing plants in China. Qianwei Yangchu’s valuation hit CNY 1 billion (USD 145 million) after the deal.
On December 26, Little Bear Rental (小熊U租), a Chinese office equipment rental service, secured USD 2.9 million Series A round from JD.com.
The proceeds will be used to build AI-powered office platform.
On December 24, Chinese liquor brand Guxiaojiu (谷小酒) raised CNY 63 million (USD 9.1 million) in a Series pre-A financing round led by Bojiang Capital (博将资本). CIC Wealth (中金汇财) and Wang Shuai, CMO of China’s e-commerce giant Alibaba also took part in the round.
Earlier, Guxiaojiu received CNY 30 million (USD 4.8 million) in an Angel round, according to Chinese online news publisher 36kr.com (36氪). The company has raised a total of USD 13.9 million in two rounds.
“The funds will be used to increase our presence in China’s Sichuan and Guizhou province,” said Liu Fei, founder of Guxiaojiu.
On December 25, Chinese online tutoring platform Yuanfudao (猿辅导) secured USD 300 million in a Series F round led by internet conglomerate Tencent, which valued the education startup at USD 3 billion. Other participants in the round include Matrix China Partners (经纬中国), Warburg Pincus (华平投资集团) and IDG Capital (IDG资本).
Yuanfudao plans to use the fresh injection to fund research and development of AI as well as improve user experience of its apps, reported 36kr.com.
On December 24, Chinese biopharmaceutical startup Junshi Biosciences’ (君实生物) shares went up over 22% up after raising HKD 2.94 billion (USD 375.8 million) on its Hong Kong IPO. Shares of The biotech firm opened at HKD 23.5 (USD 3) apiece and closed at HKD 23.75 (USD 3.03), up 22% compared to the IPO price of HKD 19.38 (USD 2.47), reported UK news agency Reuters.
On December 28, Chinese amusement equipment manufacturer Zhongshan Jinma Technology Entertainment Equipment (中山金马) listed in the Shenzhen Stock Exchange under the symbol of SZSE:300756. The venture rolled out 100 million shares at CNY 53.86 (USD 7.84) per share, raising a total of CNY 100 million (USD 14.56 million) in the IPO.
See investments details in the chart below.