Our weekly column summarizes the tech financing highlights in China in this week.
Online education platforms seem to be a hot sector in China’s tech scene with large amounts of funding being poured into these platforms. The latest technologies such as artificial intelligence and live streaming are being integrated into education offerings. Can we expect more of these advanced technologies to be integrated with education platforms? We had the “Internet plus” strategy in several industries over the last few years, and are we now welcoming the “AI plus (AI+)” strategy too?
AI based online education startup Yuanfudao receives USD 120 M financing
Yuanfudao
Founder: Li Yong
Founded in: 2012
Financing status: RMB 821 million (USD 120 million) financing in 2017
AI based online education startup Yuanfudao on Wednesday landed USD 120 M financing to recruit more teachers and to make profits through its new business model of live streaming tutoring sessions.
Electric bike-sharing startup E-Bike receives USD 2.9 million for pre-Series A
E-Bike
Founder: Cao Gaoming
Founded in: 2016
Financing status: RMB 20 million (USD 2.9 million) pre-Series A financing round in 2017
Electric bike-sharing startup E-Bike on Thursday received USD 2.9 million for its pre-Series A to improve user experience of its electric bikes and mobile app.
Robotic parts manufacturer Dobot receives USD 10 million for Series A
Dobot
Founder: Liu Chaopei
Founded in: 2015
Financing status: RMB 70 million (USD 10 million) Series A financing in 2017
Robotic parts manufacturer Dobot on Thursday receives USD 10 million for its Series A round for the research and development of new robotic parts and marketing.
Biotech company InventisBio receives USD 19 million for Series B
InventisBio
Founded in: 2015
Financing status: RMB 129 million (USD 19 million) Series B financing in 2017
Biotech company InventisBio on Thursday receives USD 19 million for its Series B round for the discovery and development of new medicine.
VR game platform Zamer VR receives USD 1.4 million for pre-Series A
Zamer VR
Founder: Wang Anzhen
Financing status: RMB 10 million (USD 1.4 million) pre-Series A financing in 2017
VR game platform Zamer VR on Thursday receives USD 1.4 million for its pre-Series A round to develop more VR games and increase its investment on marketing.
Big data based drone platform Boonray receives undisclosed financing in millions of USD
Boonray
Founder: Jacky Hu
Founded in: 2015
Financing status: Financing amounting to tens of millions in RMB (a few millions USD) in 2017
Big data based drone platform Boonray on Friday received an undisclosed financing round in millions of USD to improve its big data technology for drones to meet customers’ demand.
(Top photo from 58pic.com)
