Tech Financing in China this week – Intelligent IoT is in vogue

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

Intelligent IoT is gradually becoming the infrastructure for many industries, such as supporting e-commerce with intelligent logistics, helping new retail in door to door delivery, facilitating smart cities with monitoring, and so on. The cases that were picked this week include intelligent IoT startup, G7 Networks, which secured USD 70 million to upgrade its industrial efficiency, as well as AI chip startup, ThinkForce, which secured USD 68 million, and supply chain finance platform, Daokoudai, a speech and language therapy startup.

Intelligent IoT startup G7 Networks receives USD 70M for strategic financing

G7 Networks

Founder: Zhai Xuehun

Financing status: RMB 463 million (USD 70 million) for strategic financing in 2017

Intelligent IoT startup, G7 Networks, received USD 70 million for strategic financing on December 18 to improve its efficiency.

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Photo from 699pic.com

AI chip startup ThinkForce receives USD 68M for Series A

ThinkForce

Founded in: 2017

Financing status: RMB 450 million (USD 68 million) for Series A financing in 2017

AI chip startup, ThinkForce, received USD 68 million for Series A on December 14 to further invest in the R&D of algorithms.

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Photo from xiaopeng.com

EV startup XiaopengMotors secures SeriesA+ from Alibaba & others

Xiaopeng Motors

Founder: He Xiaopeng

Founded in: 2014

Financing status: Undisclosed Series A+ financing in 2017

EV startup, XiaopengMotors, secured Series A+ from Alibaba & others on December 15 to launch its 2.0 version of electric vehicles that will target the public.

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Photo from 699pic.com

Supply chain finance platform Daokoudai receives USD 15M for Series A

Daokoudai

Founder: Luo Chuan

Founded in: 2014

Financing status: RMB 100 million (USD 15 million) for Series A financing in 2017

Supply chain finance platform, Daokoudai, received USD 15 million for Series A on December 13 to improve its financial risk management system.

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Photo from 699pic.com

Speech & language therapy startup Orient Speech Therapy receives USD 25M for Series B

Orient Speech Therapy

Founder: Yao Qiuwu

Founded in: 2007

Financing status: RMB 165 million (USD 25 million) for Series B financing in 2017

Speech & language therapy startup, Orient Speech Therapy, received USD 25 million for Series B on December 20 to serve more customers.

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Photo from Baidu Images.

China’s ride-hailing giant Didi Chuxing raises USD 4B for financing

Didi Chuxing

Founder: Cheng Wei

Founded in: 2012

Financing status: RMB 26 billion (USD 4 billion) for financing in 2017

China’s ride-hailing giant, Didi Chuxing, raised USD 4 billion on December 21 for AI, international expansion, and EV.

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(Top photo from Baidu Images.)

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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