Our weekly column summarizes the tech financing highlights in China this week.
In the recent past, there have been a few major deals in the Indian B2B e-commerce space, which has become fiercely competitive for both enterprises and investors. On February 21st, a B2B e-commerce platform, Udaan, raised USD 50 million in a Series B financing round from Lightspeed Venture Partners. Udaan helps businesses discover customers, suppliers, and products across categories and connects them directly with each other for the best deal. The startup will use the capital to enlarge its market share.
1. On February 9th, HealthifyMe, a fitness startup, raised USD 12 million in Series B funding led by Sistema Asia Fund. The startup has introduced a calorie tracking service for Indian dishes, and it also provides real-time insights and automated analytics that allow users to monitor their overall health. The startup will use the funding to expand its services by offering healthy foods, diagnostics and insurance products beyond its digital nutrition and fitness services portfolio.
2. On February 10th, WebEngage, a user engagement SaaS startup, received an undisclosed amount of funding from Social Capital. WebEngage will use the money to enhance its product offerings this year.
3. On February 22nd, shared-living space provider CoLive secured USD 1.8 million in financing from Ncubate Capital Partners. CoLive enters into long-term rental agreements with investors, developers, and franchisees that own properties. The average rental agreement runs for a period of five years. The startup then transforms the property into branded and serviced houses for shared living. With this support from investors, the startup aims to enter the student housing rental market.
(Top photo from 699pic.com)
