Tech financing in China this week – digital ad company announces USD 78M pre-IPO financing, & more

Don’t miss out these headlines for the week: Splunk’s Chinese version raises USD 9.3 million; Hunan Broadcasting and TV Media invests USD 47 million in Qihoo 360 buyout;  a digital ad company announces USD 78M financing to return to the Chinese market.

Screenshot from RiZhiYi
Screenshot from RiZhiYi

Splunk-like analysis tool raises USD 9.3 million from Sequoia Capital 

Yottabyte, the developer of Splunk-like log analysis tool RiZhiYi, has completed a RMB 60 million (USD 9.3 million) A-series fundraising from Sequoia Capital, Sohu Tech reported on Monday.

Yottabyte was founded in 2014 by Chen Jun, a former tech executive at Google and Tencent. The company was selected to be part of the Microsoft Ventures Accelerator project this January. Yottabyte received RMB 14 million (USD two million) in a round of angel funding led by ZhenFund last March.

Yottabyte’s log analysis system RiZhiYi is the only Chinese company certified in Spark Streaming by Databricks, according to 36Kr. It provides its log analysis service to various cloud computing platforms including UCloud, Tencent Open Cloud and Windows Azure.


Hunan Broadcasting and TV Media invests USD 47 million in Qihoo 360 buyout

Hunan Broadcasting and TV Media Co.,Ltd., a Shenzhen-listed Chinese firm, announced on Wednesday that it will invest up to RMB 300 million (USD 47 million) in the buyout of Chinese internet giant Qihoo 360. Hunan Broadcasting and TV Media intends to utilize its “Huarong 360 Special Investment Fund” to complete the transaction reports financial media website,

The Huarong 360 Special Investment Fund was set up by Huarong Securities to assist with Qihoo 360’s return to China’s main board.

According to Hunan Broadcasting and TV Media, the buyout of Qihoo 360 is going to be one of the biggest buyouts in China’s internet industry. The company will cooperate with Qihoo 360 in games, and internet ads.

In June, an investment group led by Qihoo Chairman Zhou Hongyi, including Citic Securities and Sequoia Capital, made a preliminary offer to buy Qihoo 360.



Chinese women’s health app “Meet you” completes series D fundraising

“Meet you”, a women’s health app, has announced the completion of its D-series fundraising. This round of financing is led by Sino-France Innovation Capital, owned by France-based Cathay Capital Private Equity, followed by Matrix Partners, reported Tencent Tech portal’s tech channel on Wednesday.

The amount raised was not disclosed, but the last series C financing completed in 2014 totaled USD 35 million.

“Meet you” was originally a women’s health app developed by Meiyou Info Tech Co., based in a southern China’s city Xiamen, in April 2013. It then developed from a menstrual cycle management tool into a community and e-commerce platform for women in the past two and a half years with over 100 million registered users.

Chen Fangyi, CEO of “Meet you”, told Tencent Tech that this round of financing will be used to raise sales volume and improve technology, and “Meet you” will continue to meet the various needs of female users, including services for pregnancy, early-stage parenting and weight loss.



Digital ad company announces USD 78M pre-IPO financing to return to Chinese market

Ipinyou, a Chinese programmatic buying demand-side platform (DSP) and big data marketing platform, has announced its return to the Chinese domestic capital market by removing its variable interest entity (VIE) structure and completing its RMB 500 million (USD 78 million) funding at the same time, reported Tencent news portal on Monday. This is the highest single funding for China’s ad technology firms.

This round of financing is jointly led by several state-prefix funds: China Mobile Innovation Industry Capital, the Beiguang Wenzi Gehua Fund, and Shenzhen Capital Group. Ipinyou plans to accelerate its programmatic layout in mobile, TV and outdoor terminals and may go public in 2016, according to the founder and CEO of Ipinyou, Huang Xiaonan.

Ipinyou, founded in 2008 in Beijing, is a market leader of Real Time Bidding (RTB) and DSP in China. According to research organization Analysys China, it took up 59.8% of market shares in China’s brand-programmed purchasing in 2014.

(With contributions from Rhea Liu)

AllTechAsia Staff

AllTechAsia is a startup media platform dedicated to providing the hottest news, data service and analysis on the tech and startup scene of Asian markets in English.

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