Chinese VC Funding Weekly Overview(9.06-9.10)

Sep 10, 2021

 

DST Global leads $130m funding in Chinese e-commerce platform Cider

Chinese firm Cider has raised a total of $130 million in a Series B round led by return investor DST Global and joined by another existing backer A16Z. The firm also attracted funds from new investor Greenoaks Capital. The firm plans to use the funding proceeds to shore up brand management, R&D and overseas sales network. In September 2020, A16Z, IDG Ventures, Frees Fund, Chuxin Capital and Decent Capital had together invested $10 million in the startup's angel round. 

 

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