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Chinese VC Funding Weekly Overview（1.04-1.08）
Chinese medical AI firm Shukun lands USD90.4 million in new financing
Shukun Beijing Network Technology, a Chinese medical artificial intelligence company, has secured CNY590 million ($90.4 million) in its latest round of financing. The funding was led by Sequoia Capital China, Beijing-based Shukun said in a statement released today, and brings the total the firm has raised this year to CNY1 billion. The new funds will go toward boosting research and development of original drugs, accelerating product distribution to medical institutions, and fully applying digital productivity in the construction of smart hospitals across China.
Chinese adaptive robot maker Flexiv raises over $100 million
Chinese adaptive robot maker Flexiv closed a Series B round north of $100 million from investors including China's on-demand services giant Meituan, TechCrunch learned. Other major investors in the strategic round are Chinese venture capital firm Meta Capital, major Chinese agricultural company New Hope Group, private equity firm Longwood, Jack Ma's YF Capital, prominent Chinese venture capital firms Gaorong Capital and GSR Ventures, as well as Plug and Play's China and U.S. ventures. The new round boosted the startup's capital raised so far to over $120 million.
Tencent backs Chinese healthcare portal DXY in $500M round
DXY, a 20-year-old online healthcare community for Chinese consumers and healthcare organizations like Pfizer, announced this week that it has raised $500 million in a new round led by private equity firm Trustbridge Partners. Existing backer Tencent and Hillhouse Capital also participated in the round, which lifted the firm’s total funding to over $660 million to date. DXY’s earlier investors include Xiaomi founder Lei Jun’s Shunwei Capital, Legend Capital and DCM. The company started out as a knowledge-sharing platform for doctors and has over time added a consumer-facing aspect by bringing wellness advice and medical consultation services to the public, that is, steps that patients can take at home before having to go to the hospital.
Chinese data security startup DataCloak closes $28 million Series B
Chinese internet security startup DataCloak has raised $28 million in its Series B round of financing, the company announced. This investment was led by GL Ventures, and previous investors like Matrix Partners China, GSR Ventures and Jeneration Capital also participated in the round. The company will primarily use the proceeds for continued research and development as well as market expansion, the company said in a statement. Founded in 2018, DataCloak is an innovation company that focus on providing enterprise data-in-motion security solutions based on zero-trust security technology. Zero Trust Adaptive Secure Computing Platform (DACS), designed by DataCloak, builds dynamic secure workspaces for enterprises that enable the employees to access business data freely and securely, anytime, anywhere.
Keenon Robotics nets nearly RMB100 million in Series C funding
Chinese intelligent service robot manufacturer Keenon Robotics concluded its Series C funding with close to RMB100 million, according to a statement released on December 30, 2020. SoftBank Ventures Asia led the round, which is the second round of financing completed by Keenon Robotics in this year. Among them, Source Code Capital led its Series B round financing. According to the company, the funds from the latest round of financing will be used for large-scale popularization of the domestic catering market in China, the expansion of services to overseas markets, and the addition of new business areas such as healthcare. Evering Capital acted as the exclusive financial advisor for the round.
AI chip startup Enflame Technology wraps up USD278.5 million Series C
Chinese artificial intelligence chip development startup Enflame Technology raised CNY1.8 billion ($278.5 million) in its Series C financing that will be used to attract more talent, accelerate the growth of its business and promote cooperation within the sector, it said in a statement today. CITIC Private Equity Funds Management, China Capital Investment Group's funds and Primavera Capital Group led this round, followed by many current and new shareholders, including Tencent Holdings, SummitView Capital and Redpoint China Ventures. The cumulative financing amount Enflame announced will reach CNY3.14 billion after this funding.
Open-source software developer EMQ completes $23 million fundraising
The open-source software developer EMQ has secured 150 million yuan ($23 million) funding co-led by GL Ventures and GGV Capital. Founded in 2017, EMQ is one of the earliest software start-ups adopting an open-source business mode in China. Its core open source project is EMQ X Broker, a distributed MQTT server. This has become a popular 5G & IoT data platform. Following the EMQ X Broker project, the company started building a Hstream database in 2018. Hstream is a stream database designed for IoT scenarios.
Kira Pharmaceuticals announces $53.5 million Series B+ financing
Kira Pharmaceuticals, a global biotechnology company pioneering a new generation of complement-targeted therapies to treat immune-mediated diseases, today announced the first closing of an oversubscribed $53.5 million Series B+ financing. The financing was co-led by RA Capital Management and Vivo Capital, with participation from Foresite Capital and APlus Partners. Existing investors, including Quan Capital and Qiming Venture Partners USA, also participated in the first closing. Kira Pharmaceuticals is a biotechnology company developing complement-targeted therapies to treat immune-mediated diseases. Enabled by its LOGIC drug discovery platform, the company is committed to advancing first-in-class and best-in-class therapies to transform the lives of patients with complement-driven diseases. With offices in Cambridge, Massachusetts and an R&D center in Suzhou, China, Kira Pharmaceuticals is committed to establishing a global footprint and advancing life-changing therapies to patients around the world.