Our weekly column summarizes the tech financing highlights in China in the last week.
The sharing economy continues to thrive in China. After the rising popularity of bike-sharing and power bank rentals among Chinese consumers, umbrella rentals have emerged as the next sharing trend and have succeeded in securing funds for its development. With entrepreneurs and investors banking on new business models of the sharing economy, what other new trends can we expect from the sharing economy in China?
Umbrella rental startup Esan receives USD 1.4 million for its angel round
Founder: Zhao Shuping
Founded in: 2017
Financing status: RMB 10 million (USD 1.4 million) angel financing round in 2017
Umbrella rental startup Esan on Wednesday receives USD 1.4 million for its angel round to place more umbrellas in new cities.
Urban youth community LEFULL receives undisclosed Series A in millions of USD
Founder: Luo Yi
Founded in: 2015
Financing status: Series A amounting to tens of millions in RMB (a few million in USD) in 2017
Urban youth community LEFULL on Saturday receives undisclosed Series A round in millions of USD to increase its efficiency in the management of an urban youth housing community.
Network monitoring services provider Yunzhihui receives USD 26 million for Series C
Founder: Liu Hongtao
Founded in: 2009
Financing status: RMB 179 million (USD 26 million) Series C financing in 2017
Network monitoring services provider Yunzhihui on Monday receives USD 26 million for its Series C round to enhance its network monitoring services.
Online education platform Yangcong receives USD 14 million for Series B
Founder: Yang Linfeng
Founded in: 2013
Financing status: RMB 97 million (USD 14 million) Series B financing in 2017
Online education platform Yangcong on Monday landed USD 14 million for its Series B round to integrate artificial intelligence and big data technology on its platform to provide students with customized learning suggestions.
Medical equipment manufacturer Goodwill receives USD 48 M financing
Financing status: RMB 330 million (USD 48 million) financing in 2017
Medical equipment manufacturer Goodwill on Monday received USD 48 million financing from AliHealth to enhance its medical services for customers.
VR learning platform Growlib receives undisclosed pre-Series A in millions of USD
Founder: Zhang Kun
Founded in: 2016
Financing status: Pre-Series A amounting to tens of millions in RMB (a few million USD) in 2017
VR learning platform Growlib on Tuesday received an undisclosed pre-Series A financing round in millions of USD to create more VR learning content.
Mobile communication app developer Chubao receives USD 100 M for Series D
Founder: Wang Jialiang
Founded in: 2008
Financing status: RMB 689 million (USD 100 million) Series D financing in 2017
Mobile communication app developer Chubao on Monday received USD 100 M in its Series D financing round to increase investment on its technology.
Power bank rental startup Suichong receives undisclosed angel round in millions of USD
Founder: Li Xiawei
Financing status: Angel round amounting to tens of millions in RMB (a few million USD) in 2017
Power bank rental startup Suichong on Wednesday receives its undisclosed angel round in millions of USD to increase its marketing influence.
Robotics startup Krund receives USD 8.7 million for Series A
Founder: Wang Yunzhi
Founded in: 2015
Financing status: RMB 60 million (USD 14.5 million) Series A financing in 2017
Robotics startup Krund on Thursday receives USD 8.7 million for its Series A financing round for the research and development of new robots.
Live streaming mobile app Huajiao receives USD 14.5 million financing
Founded in: 2015
Financing status: RMB 100 million (USD 14.5 million) financing in 2017
Live streaming mobile app Huajiao receives USD 14.5 million financing to promote live streaming technology on mobile phones.
(Top photo from 58pic.com)