Tech Financing in China this week – BJEV raises the largest financing round in the electric-vehicle industry

Our weekly column summarizes the tech financing highlights in China this week.

To preserve the environment as much as possible and curb pollution from cars, the Chinese and some other countries’ governments have made supporting investments in electric vehicles a strategic initiative. This has gradually made the electric-vehicle industry a hot area for investments, as seen with Tesla in the U.S.. This week BAIC’s electric-vehicle unit BJEV raised the largest single financing round in the electric-vehicle industry in China. Will this make a difference on the electric-car industry? Let’s wait and see.

BAIC’s electric-vehicle company BJEV receives USD 1.6 B for Series B

BJEV

Founder: Zheng Gang

Founded in: 2014

Financing status: RMB 11 billion (USD 1.6 billion) for Series B financing in 2017

BAIC’s electric-vehicle company BJEV, on July 22, received USD 1.6 B for their Series B financing for market expansions.

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E-scooter rental startup BeeFly receives USD 14.8 M for pre-Series A

Photo from 58pic.com

BeeFly

Founded in: 2016

Financing status: RMB 100 million (USD 14.8 million) in pre-Series A financing in 2017

E-scooter rental startup BeeFly, on July 20, received USD 14.8 M for pre-Series A financing round to help with its market expansion.

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Maternal and child service platform Mamabang receives tens of millions of USD in an undisclosed Series B round

Photo from 58pic.com

Mamabang

Founder: Zhang Liang

Founded in: 2011

Financing status: Series B in 2017 amounting to hundreds of millions of RMB (tens of millions of USD)

Maternal and child service platform Mamabang, on July 20, received undisclosed Series B in tens of millions of USD. Mamaband plans to expand its business to the education industry by using big data and artificial intelligence technologies.

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Pet e-commerce platform Epet receives USD 50 M for Series B

Photo from 58pic.com

Epet

Founder: Xiao Yu

Founded in: 2009

Financing status: RMB 338 million (USD 50 million) for Series B financing in 2017

Pet e-commerce platform Epet, on July 22, received USD 50 M for its Series B financing round for global expansions.

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Bike-sharing startup X-bike receives undisclosed angel round in millions of USD

Photo from Baidu Images.

X-bike

Founder: Hu Jiarun

Founded in: 2017

Financing status: Angel round in 2017 amounting to tens of millions in RMB (few millions of USD)

Bike-sharing startup Xiaoxiao, on July 24, received its undisclosed angel round in millions of USD for partnering with new universities to place more bikes on campuses.

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Fintech company iQianbang receives USD 74M for Series B

Photo from 58pic.com

iQianbang

Founder: Wang Jitao

Founded in: 2013

Financing status: RMB 500 million (USD 74 million) for Series B financing in 2017

Fintech company iQianbang, on July 24, received USD 74 M for its Series B financing round to expand its business to more industries.

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Autonomous driving technology startup Momenta receives USD 46M for Series B

Photo from 58pic.com

Momenta

Founder: Cao Xudong

Founded in: 2016

Financing status: RMB 311 million (USD 46 million) for Series B financing in 2017

Autonomous driving technology startup Momenta, on July 25, received USD 46M for Series B financing round to invest on its artificial intelligence technologies.

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Big data based security technology provider HanSight receives USD 14.8M for Series B

Photo from 58pic.com

HanSight

Founder: Gao Hanzhao

Founded in: 2014

Financing status: RMB 100 million (USD 14.8 million) for Series B financing in 2017

Security technology provider HanSight, on July 25, receives USD 14.8M for its Series B financing round to improve its market influence.

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English-learning community Liulishuo received approximately USD 100 M for Series C

Photo from 58pic.com

Liulishuo

Founder: Wang Yi

Founded in: 2012

Financing status: Approximately RMB 675 million (USD 100 million) for Series C financing in 2017

English learning community Liulishuo, on July 26, received approximately USD 100M for their Series C financing round. Funds will be used to introduce artificial intelligence technologies to its current app offerings in order to provide a better English-learning experience.

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Online language learning platform Duolingo received USD 25M for Series E

Photo from 58pic.com

Duolingo

Founded in: 2011

Financing status: RMB 168 million (USD 25 million) for Series E financing in 2017

Online language learning platform Duolingo, on July 26, received USD 25M for their Series E financing round to offer new language courses.

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(Top photo from 58pic.com)

Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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