Chinese VC Funding Weekly Overview (1.03-1.07)

Jan 07, 2022 Finance


Cure Genetics nets $60M in Series B funding

Chinese biopharmaceutical technology company Cure Genetics has completed $60 million in Series B funding round. This deal was led by the strategic investor Advantech Capital, participated from Oriza Holdings, Blue Ocean Capital, Qiming Venture Capital and others. Proceeds will be mainly used to accelerate the clinical development of Cure Genetics’ therapeutic products in blood and solid tumor cells, and to promote the development and international cooperation of innovative serotype screening and gene editing products based on AAV virus.


Chinese AI startup bags $100M in Series B

Chinese AI startup has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation was not disclosed, the company has joined the hallowed unicorn club (>$1 billion) after the funding. The company will use the funding to boost its technology, develop international collaborations, and new products including virtual worlds explored by both human beings and AI like metaverse.


Chinese chip developer secures $15.7 million in Series B round

Micro Creative, a Chinese chip developer that focuses on the development of highly integrated millimeter-wave radar sensor chips and solutions for related application scenarios, announced that it has completed Series B round of financing worth over 100 million yuan ($15.7 million). The investors include SummitView Capital, Shunwei Capital and Flyfot Ventures. The fresh capital will mainly be used for the mass production and promotion of security millimeter wave imaging chips and the development of its next generation automotive millimeter wave radar chips.


Sequoia joins $10m round of Chinese database software firm

Chinese database software provider SphereEx has raised $10 million in Series Pre-A round led by Vision Knight Capital. Investors including Sequoia Capital China Seed Fund, Chuxin Capital and Index Capital. Index Capital also acted as the exclusive financial adviser to the deal. The funds are marked mainly for product R&D and commercial verification.


UWin Tech pockets 180 million yuan in Series C

UWin Tech, an enterprise DevOps solution provider, has recently completed 180 million yuan in its Series C financing round, which was led by GL Ventures and followed by SIG and Stora Capital. The new funds will be mainly used for product development, marketing and sales, channel construction, and the introduction and development of high-end talents. Founded in 2015, the company is a new prominent development and operations (DevOps) and maintenance solutions service provider in China, providing comprehensive IT solutions for enterprises.


Chinese online interest community raises 100 million yuan

Hongsong, an online interest community for the middle-aged and the elderly, completed 100 million yuan in Series A+ round. BAI Capital was the leading investor and previous shareholders, Matrix Partners, CCV Capital and BlueRun Ventures China, also participated. The company will use the funds for product R&D and market expansion to better serve their clients.


Autonomous mobile robot completes a new round of financing

Chinese industrial flexible logistics services provider Standard Robots recently completed a Series Pre-C round of financing totaling hundreds of millions of yuan, led by Broad Vision Funds. Other investors include NIO Capital, Source Code Capital and Miracle Plus. The proceeds will be used mainly for new product research and development of autonomous mobile robots (AMRs), profound industry exploration, talent introduction and global market expansion.


Indian e-commerce Udaan raises $250 million

Indian commerce startup Udaan, which helps merchants secure inventory and working capital, has raised $250 million as it accelerates its scaling efforts and prepares to explore the public markets. The startup, which counts Lightspeed Venture Partners and GGV Capital among its existing backers and was last valued at over $3 billion, is engaging with a few more investors and is likely to raise more money in the coming months, a source familiar with the matter said.