Our weekly column summarizes the tech financing highlights in China this week.
As a representative case of the sharing economy, the popularity of bike-sharing in China continues, drawing favor from both investors and users. The competition in large Chinese cities is fierce, but the market is comparatively less saturated in smaller cities. This week bike-sharing startup Hellobike secured USD 152M in Series-D2 funding to take on bike-sharing giants ofo and Mobike. Hellobike intends to focus on smaller cities. Plus, AI-powered concierge service startup Laiye secured Series B funding this week, co-working unicorn UrWork secured USD 45M in Series C for expansion, plastic surgery app SoYoung landed USD 60M in Series D, and mobile live video streaming platform Chushou TV received USD 76M in Series E in preparation for IPO.
Bike-sharing startup Hellobike receives USD 152M in Series-D2 funding
Hellobike
Founder: Yang Lei
Founded in: 2016
Financing status: RMB 1 billion (USD 152 million) for Series D2 financing in 2017
Bike-sharing startup Hellobike received USD 152 million for Series D2 funding on December 27. The newly raised capital will be allocated toward diversifying its transportation solutions.
AI-powered concierge service startup, Laiye, receives tens of millions of USD for Series B
Laiye
Founder: Wang Guanchun
Founded in: 2015
Financing status: Series B financing in 2017 amounting to hundreds of millions of RMB (tens of millions in USD)
AI-powered concierge service startup, Laiye, received tens of millions of USD for Series B on December 21 to promote its enterprise concierge service, wul.ai.
New retail startup Zailouxia receives USD 15M for financing
Zailouxia
Founded in: 2017
Financing status: RMB 100 million (USD 15 million) for financing in 2017
New retail startup, Zailouxia, received USD 15 million for financing on December 21 to turn its unmanned containers into public refrigerators in communities.
Co-working space startup UrWork receives USD 45M for Series C
UrWork
Founder: Mao Daqing
Founded in: 2015
Financing status: RMB 300 million (USD 45 million) for Series C financing in 2017
Co-working space startup, UrWork, received USD 45 million for Series C on December 22 to expand its business in smaller cities.
Plastic surgery app SoYoung receives USD 60M for Series D
SoYoung
Founder: Jin Xing
Founded in: 2013
Financing status: RMB 400 million (USD 60 million) for Series D financing in 2017
Plastic surgery app, SoYoung, received USD 60 million for Series D on December 24 to improve its user experience.
Mobile live video-streaming platform Chushou TV receives USD 76M for Series E led by Google
Chushou TV
Founded in: 2015
Financing status: RMB 500 million (USD 76 million) for Series-E financing in 2017
Mobile live video-streaming platform Chushou TV received USD 76 million for Series E led by Google on December 27, in preparation for IPO.
(Top photo from Hellobike)
