Our weekly column summarizes the tech financing highlights in China this week.
China’s online shared homes industry welcomed a boom last year. It has not been easy for foreign house-sharing companies to enter the Chinese market, as it is difficult for them to comprehend Chinese users’ demands and meet those demands in acceptable ways. Cooperating with Chinese local services has also posed challenges. For these reasons and more, domestic companies are well-positioned to seize this opportunity.
House-sharing platform Xiaozhu receives USD 120M for Series E
Founder: Kelvin Chen Chi
Founded in: 2012
Financing status: RMB 793 million (USD 120 million) for Series E financing in 2017
House-sharing platform, Xiaozhu, received USD 120 million for Series E on November 1st to invest in building an ecosystem for house sharing services.
Gene health startup Annroad receives USD 106M for Series C
Founded in: 2012
Financing status: RMB 700 million (USD 106 million) for Series C financing in 2017
Gene health startup, Annroad, received USD 106M for Series C on November 2nd to improve its gene related research.
Study abroad service platform Smartstudy receives USD 30M for Series B+
Founder: Wei Xiaoliang
Founded in: 2013
Financing status: RMB 200 million (USD 30 million) for Series B+ financing in 2017
Study abroad service platform, Smartstudy, received USD 30 million for Series B+ on November 1 to accelerate branding.
Online auto insurance platform Cheche365 receives USD 30M for Series B
Founded in: 2014
Financing status: RMB 200 million (USD 30 million) for Series B financing in 2017
Online auto insurance platform, Cheche365, received USD 30 million for Series B on November 2 to establish an ecosystem for comprehensive financial and insurance services.
Fighting robot developer Ganker receives undisclosed Series A in millions of USD
Founder: Zhao Junjian
Founded in: 2015
Financing status: Series A in 2017 amounting to tens of millions of RMB ( a few millions USD)
Fighting robot developer, Ganker, received undisclosed Series A in millions of USD led by TencentCrop on November 6 for marketing.
(Top photo from 699pic.com)