Tech Financing this week – Pet service O2O app raises USD 2.3M

This week in China financing news: door-to-door education platform gets USD 1.5 million; micro-video app developer valued at USD one billion after fundraising; O2O pet service app raises USD 2.3 million.
O2O preschool education platform gets USD 1.5 million funding

On Thursday, O2O preschool education company Zaojiaodaojia announced that it has received RMB 10 million (USD 1.5 million) in pre-A-series funding, Tencent Tech reported on Thursday.

After this funding, Zaojiaodaojia will expand both its preschool education team and its marketing team, step up its market promotion, and increase its market share.

Established in May 2015, the company offers door-to-door whole brain development preschool education for children from 0-3 years old. It carries out its operations through its websites, its Wechat official account and its mobile app.

Chinese micro-video app maker to become unicorn, valued at USD 1B after D-series financing

On Tuesday, micro-video app developer received USD 200 million in D-series funding, boosting its valuation to USD one billion. Sina Weibo led the funding, followed by Sequoia Capital and the Korean YG Entertainment company.

Yixia developed several micro-video apps. The most popular are MiaoPai, an app for making and sharing ten-second videos, and XiaoKaxiu, a Dubsmash-like app that lets you make videos of yourself dubbed with famous soundbites. Xiaokaxiu now has five million daily active users and daily video uploads on Miaopai has exceeded one million, with 510 million views each day.

Han Kun, CEO and co-founder of the company, said that the money would be used to increase the production of original video content. He said the company will launch a micro-video livecast of on Weibo, China’s largest social media platform. The companies will open their APIs to each other, allowing video-syncing across platforms.

Founded in August 2011, the company received C-series funding from StarVC, a VC startup founded by Chinese celebrities including Li Bingbing and Zhang Ziyi.

Zhuazhua's crewPet service O2O app raises USD 2.3M

On Tuesday, online to offline pet service provider Zhuazhua, or Claws, announced that it has completed its RMB 15 million (USD 2.35 million) pre-A series fundraising. Founded in 2015 in Shenzhen, Zhuazhua originally operated the “Kaopu” platform, which provides services to local communities. In 2015, Zhuazhua shifted its focus to the pet service O2O business, NetEase reports.

Right now, it only provides service to small and medium-sized dogs.After the pre-A fundraising, Zhuazhua will focus on developing markets in Shenzhen and Guangzhou and will expand its services to seven first-tier Chinese cities including Beijing and Chengdu. It has tried to promote dog grooming services at its headquarters in Shenzhen.

According to Yang Dengfeng, the founder of Zhuazhua, the funding will be used to improve offline in-store services. It is estimated that they’ll have 50 offline stores by next year.

Chinese B2B travel platform completes B-round financing, valued at USD 78M

On Monday, Lvyouquan, a B2B travel platform from Shanghai-based, which offers booking, transaction and warranty services for cruises, domestic travel and overseas travel, has completed its B-round financing. It received investment from five investors including JP Investment Group, Guangzhou’s Nanyue Fund, Haitong Securities Company Limited, Principal Capital and Xin Nuo Finance, which will boost Lvyouquan’s valuation up to RMB 500 million (USD 78.3 million).

The money will be used to establish a comprehensive strategic layout in three aspects: speeding up the process of tapping the new market and increasing marketing expenses; further improving the performance of its product service supply chain and user experience; putting more money into promoting the research and development of mobile marketing and distribution technology and thus bringing users more value-added services.

Launched in 2014 , Lvyouquan received RMB 120 million in its A-round financing by the end of 2014 according to Travel Daily. The company’s business now covers more than 150 cities in China, with more than 40,000 B2B travel platform distributors and grows at the rate of ten times per year.

(With contributions from Mochou Lee and Stella Yu)
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