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.
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.
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.
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.
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.
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.
（Top photo from Baidu Images.）
