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Chinese VC Funding Weekly Overview (3.29-4.02)
Alibaba co-leads $750m round of Chinese e-grocery startup Nice Tuan
Alibaba Group and DST Global led a $750 million investment round for Chinese grocery app Nice Tuan to help the startup expand in the increasingly competitive industry. Other investors in the round include GGV Capital, DE Shaw & Co., Anatole Investment, Jeneration Capital, Dragoneer, CDH Investments, Kunlun Capital, Franchise Capital, and Cygnus Equity. Nice Tuan will use the fresh capital to bolster its supply chain capabilities and increase its offerings.
AI chip designer Biren closes Series B round