Top Chinese Startup Funding News Last Week( 14-20 Jan, 2019)

1、Yimidida secured its series D funding of $264 Million

Jan 14, 2019

Yimidida (壹米滴答),  focusing on provides cost-effective logisitics with products and services, have announced its Series D Funding of USD 264 Million today. This series of funding is led by China's Boyu Capital. Yimidida was valued at USD 1.06 Billion after this round financing.

Yimidida claimed officially that this round of financing will be used on customer aquisition, core unit operation (the station or the routes of logistics)and the underlying technology like the automation engineering equipment and logistics lifecycle management. Yimidida hence can further develop its intelligent logisitics system, and its customers could receive better service. 

Founded in 2015, Yimidida is a logistics platform enterprise that provides crowdsourced logistics services for the big cities, small counties and villages in China. That is to say, Yimidida is breaking the old rule of logistics, and is connecting the local logistics company and crowdsourcing for the last mile.(source: Equalocean)


2、English tutoring platform Dada raises $255 mln in series-D funding

Jan 16, 2019

Online English tutoring firm Dada has announced the completion of its series-D financing on 16th January. The funding round was led by global private equity firm Warburg Pincus, Tiger Global Mauritius Fund and TAL Education.

To date, Dada has completed six financing rounds, raising nearly USD 385 million. Dada which was founded in 2013 provides 1-to-1 online English education for children aged between 4 to 16. The company employs technologies such as artificial intelligence (AI) and big data to provide education with high-level performance and efficiency.

Since the company's founding, Dada has now expanded from mainland China to other non-native English-speaking countries and regions such as Hong Kong, Taiwan, South Korea, Japan and France.(source: China Knowledge)


3、Chinese state-owned funds invest in biotech firm MabPlex

Jan 18, 2019

MabPlex International, a Chinese biologics development and manufacturing solutions provider, has completed a RMB400 million (US$59.1 million) series A round of financing. The round was led by China's state-owned SDIC Venture Capital and Shenzhen Capital Group, an investment unit of Shenzhen Municipal Government, according to an announcement last week.(source: China Money Network)


4、Identity authentication solutions firm Trusfort raises RMB 120 Mln series B2

Beijing-based mobile identity authentication service provider Trusfort Technology recently revealed that it completed RMB 120 mln in Series B2 funding in December 2017, in a round led by Yunfeng Capital with participation from Dreamfly Capital Management, SIG Asia Investment, and Redpoint Ventures.

Trusfort's basic product line is mobile multifactor authentication (MFA) and intelligent behavior authentication (IPA) with the two businesses complementing each other. Previously, after users entered an account and password, the enterprise's server would verify the information, but with Trusfort adds a new layer of security with a certificate generated on the user's handset. A unique ID, which can take the form of a key or character string, is generated from more than 5,000 features along 20 dimensions, including SIM card, time, account, data, and apps.(source: marbridgeconsulting)


5、GaiaWorks secures $44m Series C

GaiaWorks, a workforce management system developer, has raised 300 million yuan ($44.32 million) in its Series C financing round led by Tiger Global Management. GaiaWorks, founded in 2009, is backed by Warburg Pincus, Matrix Partners and Genesis Capital.

It provides SaaS workforce management solutions in Asia Pacific. The company claims its platform is used by 600,000 users and 1,500 facilities across 12 countries every day. Some of its customers are C&A, Capital Land, Estee Lauder, GE, Jaguar, Nike and Samsung.(source: dealstreetasia)