Tech Financing in China this week – The battle among power bank sharing companies continues

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

At this stage, most companies in the Internet industry have realized that it is hard to get access to new users online to expand their service range, due to the high cost of acquiring new users and the difficulty of maintaining them. This brings them back to offline businesses. Power bank sharing is one of these businesses. Its services and devices can be standardized so that they can be easily copied to new areas.

Power bank sharing startup Chongchong received USD 75 M for Series A

Chongchong

Founder: Qin Yi

Founded in: 2016

Financing status: RMB 500 million (USD 75 million) for Series A financing in 2017

Power bank sharing startup, Chongchong, received USD 75 M for Series A on August 20 to manufacture and build more power banks in cities to conquer the market.

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AI service provider Unisound received USD 45 M for financing

Photo from 699pic.com

Unisound

Founder: Huang Wei

Founded in: 2012

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

AI service provider, Unisound, received USD 45 M for financing on August 17 to expand its team by recruiting more talent.

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Housing property e-commerce platform Julive received undisclosed Series B in tens of millions of USD

Photo from 58pic.com

Julive

Founder: Wang Peng

Founded in: 2014

Financing status: Series B in 2017 amounting to hundreds of millions in RMB (tens of millions in USD)

Housing property e-commerce platform, Julive, received undisclosed Series B in tens of millions of USD on August 17 to expand its housing property business to more cities in China.

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Online truck logistics platform Huochebang received USD 56 M for Series B-3  round

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Huochebang

Founder: Dai Wenjian

Founded in: 2011

Financing status: RMB 373 million (USD 56 million) in Series B-3 financing in 2017

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Online educational platform Hiketang receives USD 7.5 M for Series A

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Hiketang

Founder: Ji Yi

Financing status: RMB 50 million (USD 7.5 million) for Series A financing in 2017

Online educational platform, Hiketang, received USD 7.5 M for Series A on August 21 to launch offline outlets for a better user experience.

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Medical imaging platform Yinglink receives undisclosed pre-Series A in millions of USD

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Yinglink

Founder: Dong Jie

Financing status: Pre-Series A in 2017 amounting to tens of millions of RMB ( a few million USD)

Medical imaging platform Yinglink receives undisclosed pre-Series A in millions of USD on August 21 for market expansion plans.

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Workforce management solutions provider GaiaWorks received USD 19.5 M for Series B+

Photo from 58pic.com

GaiaWorks

Founder: Zhang Xinbo

Founded in: 2009

Financing status: RMB 130 million (USD 19.5 million) for Series B+ financing in 2017

Workforce management solutions provider, GaiaWorks, received USD 19.5 M for Series B+ on August 22 to accelerate its business development.

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AR technology provider EasyAR receives nearly USD 15M in Series A+

Photo from 58pic.com

EasyAR

Founder: Zhang Xiaojun

Founded in: 2014

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

AR technology provider, EasyAR, received nearly USD 15M in Series A+ on August 22 to expand its technology to more industries.

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Online English teaching platform VIPKID received USD 200 M for Series D led by Tencent

Photo from 669pic.com

VIPKID

Founder: Mi Wenjuan

Founded in: 2013

Financing status: RMB 1.3 billion (USD 200 million) for Series D financing in 2017

Online English teaching platform, VIPKID, received USD 200 M for Series D led by Tencent on August 24 to expand its business overseas.

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Automobile circulation service platform Maihaoche received USD 30 M for Series B

Photo from 58pic.com

Maihaoche

Founder: Li Yanzhu

Founded in: 2014

Financing status: RMB 200 million (USD 30 million) for Series B financing in 2017

Automobile circulation service platform, Maihaoche, received USD 30 M for Series B on August 23 to boost its business in the automobile industry.

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(Top photo from 699pic.com)

Kaikai Shi
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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