Our weekly column summarizes the tech financing highlights in China this week.
The travel-service industry is growing as the frequency and consumer demands of tourism increase among China’s middle class. This week, Chinese online travel-service platform Mafengwok, which specializes in travel information and booking services for independent travelers, secured USD 133M in funding. Additionally, cloud service provider Kingsoft Cloud, Vehicle leasing platform Yichechuxing, AI startup Vion Technology, and Unmanned retail startup Xiaoyiweidian garnered funding as well.
Online travel service platform Mafengwo receives USD 133M for Series D
Mafengwo
Founder: Cheng Gang
Founded in: 2006
Financing status: RMB 881 million (USD 133 million) for Series D financing in 2017
Online travel service platform Mafengwo received USD 133 million for Series D on December 12 to invest in data development.
AI startup Vion Technology receives USD 20M for Series B
Vion Technology
Founded in: 2005
Financing status: RMB 132 million (USD 20 million) for Series B financing in 2017
AI startup, Vion Technology, received USD 20 million for Series B on December 8 to facilitate its deep learning technology in more areas.
Unmanned retail startup Xiaoyiweidian receives USD 30M for SeriesB
Xiaoyiweidian
Founded in: 2016
Financing status: RMB 200 million (USD 30 million) for Series B financing in 2017
Unmanned retail startup, Xiaoyiweidian, received USD 30 million for SeriesB on December 11 to place its unmanned shelves in more companies.
Intelligent tax startup Onlyou.com receives USD 45M for SeriesA
Onlyou.com
Founder: Tong Deliang
Founded in: 2013
Financing status: RMB 300 million (USD 45 million) for Series A financing in 2017
Intelligent tax startup, Onlyou.com, received USD 45 million for Series A on December 9 to enhance its services by introducing AI technology.
Vehicle leasing platform Yichechuxing receives USD 26M for financing
Yichechuxing
Founded in: 2017
Financing status: RMB 175 million (USD 26 million) for financing in 2017
Vehicle leasing platform, Yichechuxing, received USD 26 million for financing on December 12 to expand its services to more cities.
Cloud service provider Kingsoft Cloud receives USD 300M for Series D
Kingsoft Cloud
Founded in: 2012
Financing status: RMB 2 billion (USD 300 million) for Series D financing in 2017
Cloud service provider, Kingsoft Cloud, received USD 300 million for Series D on December 12 to introduce AI technology to more industries.
Computer vision startup Tunicorn Technology receives USD 38M for Series A
Tunicorn Technology
Founder: Wei Jingjing
Founded in: 2014
Financing status: RMB 250 million (USD 38 million) for Series-A financing in 2017
Computer vision startup Tunicorn Technology received USD 38 million for Series A on December 13. The newly raised capital will be allocated towards recruiting additional talents in the AI (Artificial Intelligence) domain.
(Top photo from 699pic.com)
