Power bank rental startup Xiaodian receives millions in USD from GSR Ventures and Didi’s investor Wang Gang
Founder: Tang Yongbo
Founded in: 2016
Financing status: Tens of millions in RMB (millions in USD) in angel round in 2017
Xiaodian is a power bank rental startup that enables users to charge their smartphones easily outside their homes without chargers. Founded in Beijing in 2016, it has so far deployed its power bank rentals in several cities, and its power bank rentals can now be found in subways, canteens, shopping malls, and so on. Users can scan the QR code on the power bank to unlock it for charging without deposit guarantees. Xiaodian aims to deploy 3.6 million power banks across China in 2017, and it will use this as a platform to expand advertising opportunities and enhancing payment development.
Xiaodian’s angel financing round was led by GSR Ventures and Wang Gang who also invested in Didi’s angel round. Xiaodian does not think about making profit now, and it will use this fund to attract new users with deploying more power banks in new cities and improving user experience.
Tumor therapy drug research and development startup Qide receives USD 5.8 M in Series A round
Founder: Qin Gang
Founded in: 2013
Financing status: RMB 40 million (USD 5.8 million) Series A round in 2017
Qide is a tumor therapy drug research and development startup that aims to develop drugs to accurately kill tumor cells. Qide is a Suzhou company founded in 2013, and it is now focusing on developing a new tumor drug that will deal with the current problem in traditional chemotherapy – killing a patient’s normal cells as well as tumor cells. Qide has built a new technology that can greatly improve drug effects for tumor therapy.
Qide’s Series A round was led by Oriza Holdings, and this fund will be used to accelerate its research and development process of tumor therapy drugs.
(Top photo from Xiaodian.so)