Chinese VC Funding Weekly Overview(10.04-10.08)

Oct 08, 2021 Finance


ClickPaaS completes a new round of funding led by Sequoia Capital China 

Sequoia Capital China has led a Series B+ round funding in ClickPaaS, a developer of low code development products and solutions. The round is said to be in the region of "tens of millions of US dollars." The investors include Bertelsmann Asia Investments (BAI), SIG China, SY Capital and Future Capital. The four investors had also invested a similar-sized sum for the first tranche of ClickPaaS's Series B round funding in March this year. Boutique investment bank Silver Oak Capital facilitated the transaction, according to a company statement. The company will use the proceeds for R&D and product development.


Medical device supplier VisionX finishes its Series B round of financing 

Ophthalmology-focused medical device supplier VisionX has secured over $100 million for its Series B round of financing. Two new investors Temasek Holdings and Lake Bleu Capital participated in this deal. Returm backers Sequoia Capital China, Green Pine Capital Partners and investment firms - Sherpa Healthcare Partners, 3H Health, Highlight Capital - joined the round. The new funds will be used to deploy the capital for talent recruitment, R&D and commercialisation of new candidates.


Smart energy service platform Aulton secures RMB1.5 billion Series B round 

Chinese smart energy service platform Aulton announced the completion of a Series B strategic financing round worth RMB1.5 billion. This round was co-led by Enze Fund and a special fund under Guangzhou Financial Holdings, with participation from Guangdong Merchant Venture Capital, CY Capital, KIP (China) and others. Aulton has cooperated with more than 20 car makers such as BAIC, FAW, Dongfeng and others to develop more than 20 battery swap models, which not only involve the passenger car field, but also extend to the commercial vehicle field (heavy trucks, light trucks, minivans).


Mindee has raised $14 million in a Series A funding

Mindee has raised $14 million in a Series A funding round led by GGV Capital. And existing investors Serena Capital and Bpifrance also participated through its Digital Venture fund. Mindee has previously raised $2.3 million in two seed funding rounds. The firm will use the funding to expand in the US and Europe. It currently has offices in San Francisco and Paris with around 25 employees (according to LinkedIn). It will also further invest in machine learning, and platform features for its solution.


CBMG Holdings completes $120 million in Series A funding

CBMG Holdings, a Cayman Island biopharmaceutical company developing innovative cellular immunotherapies for the treatment of cancer and degenerative diseases, announced the closing of a $120 million Series A investment, led by AstraZeneca-CICC Fund, Sequoia Capital China and Yunfeng Capital. Both new and certain existing investors, including GIC and TF Capital, subscribed to the Series A financing. This round of financing will largely be used to accelerate the clinical development of the company's immune-oncology platform.


Indian online learning platform Vedantu becomes unicorn with $100 million funding 

Online learning platform Vedantu has raised $100 million in a new financing round and has become the latest Indian startup to become a unicorn following a year of strong growth. Vedantu, which last month refuted rumors of it considering a sale to Byju's, said it has raised $100 million in its Series E financing round that valued it at $1 billion, up from about $275 million early last year. The round was led by Singapore-headquartered — and Temasek-backed — private equity firm ABC World Asia. Existing investors Coatue Management, Tiger Global, GGV Capital and WestBridge also "strongly" participated in the round, the startup said.


Temasek leads $550m round of US cybersecurity firm 

Orca Security, a US-based cybersecurity firm, has raised $550 million in an extended Series C funding round. Singapore's Temasek led the round, which values the firm at about $1.8 billion. CapitalG, Alphabet's independent growth fund, also participated in the round, along with Redpoint Ventures, GGV Capital, Iconiq Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners. Orca Security said it will use the new funds to expand its global footprint and work with more firms.


Telemedicine startup Alpha Medical closes $24 mln Series B funding round

Alpha Medical, a telemedicine startup based in Palo Alto, has closed a $24 million Series B round to continue revolutionizing women's health. The oversubscribed round counted with participation from firms like SpringRock Ventures, Margo Georgiadis, Outcomes Collective Growth Capital, FMZ Ventures, Samsung Next, Chamaeleon, AV8 Ventures, and GSR Ventures, some of which specialize in digital health. The funding brings the total funding raised by the startup to $35 million.