Tech Financing in China this week – Travel services catch on

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


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.

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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.

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Unmanned retail startup Xiaoyiweidian receives USD 30M for SeriesB


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.

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Intelligent tax startup receives USD 45M for SeriesA

Founder: Tong Deliang

Founded in: 2013

Financing status: RMB 300 million (USD 45 million) for Series A financing in 2017

Intelligent tax startup,, received USD 45 million for Series A on December 9 to enhance its services by introducing AI technology.

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Vehicle leasing platform Yichechuxing receives USD 26M for financing


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.

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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.

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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.

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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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