Tech Financing in China this week – News aggregator takes the lead

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

News aggregation continues to be a hot area for companies, even the Chinese search engine giant, Baidu, is targeting it. Based on big data and advanced technologies, new aggregation is a door for meeting users’ customized and interest-oriented demands, as well as precise marketing to target different users. This week we have Chinese news aggregator Toutiao’s rival, Yidian Zixun, securing USD 100 million for Series E financing round.

Mobile news aggregator Yidian Zixun receives USD 100M for Series E

Yidian Zixun

Founder: Zheng Chaohui

Founded in: 2013

Financing status: RMB 661 million (USD 100 million) for Series E financing in 2017

Mobile news aggregator Yidian Zixun received USD 100 million for Series E on October 17 to solidify its content system.

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Photo from 699pic.com

K12 online education firm KnowBox receives USD 30M for Series B+

KnowBox

Founder: Liu Ye

Founded in: 2015

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

K12 online education firm, KnowBox, received USD 30 million for Series B+ on October 12 for more products in various education scenes.

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Photo from 699pic.com

Fintech startup MioTech receives USD 7M for Series A

MioTech

Founder: Jason Tu

Financing status: RMB 46 million (USD 7 million) for Series A financing in 2017

Fintech startup, MioTech, received USD 7 million for Series A on October 12 to develop artificial intelligence based software.

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Fitness O2O platform Lefit receives USD 45M for Series C

Lefit

Founder: Han Wei

Founded in: 2015

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

Fitness O2O platform, Lefit, received USD 45 million for Series C on October 13 to invest in market expansion plans.

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Photo from 699pic.com

Part-time service platform QTSHE receives USD 9M for Series B

QTSHE

Founder: Deng Jianbo

Founded in: 2013

Financing status: RMB 60 million (USD 9 million) for Series B financing in 2017

Part-time service platform, QTSHE, received USD 9 million for Series B on Oct. 16 to solidify its business model and expand to more cities.

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Photo from Vingoojuice.com

Fresh juice vending machine startup Vingoojuice receives USD 60M for Series B

Vingoojuice

Founder: Zhou Qi

Founded in: 2009

Financing status: RMB 400 million (USD 60 million) for Series B financing in 2017

Fresh orange juice vending machine startup, Vingoojuice, received USD 60 million for Series B on October 17 to expand to the unmanned retail industry.

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Photo from 699pic.com.

Autonomous driving technology startup Momenta receives USD 46M for Series B2

Momenta

Founder: Cao Xudong

Founded in: 2016

Financing status: RMB 200 million (USD 30 million) for Series B2 financing in 2017

Autonomous driving technology startup, Momenta, received USD 30 million for Series B2 financing round on October 17 to invest in artificial intelligence technologies.

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Online computer rental startup Edianzu receives USD 18M for Series B

Edianzu

Founder: Ji Pengcheng

Founded in: 2015

Financing status: RMB 120 million (USD 18 million) for Series B financing in 2017

Online computer rental startup Edianzu received USD 18 million for Series B on October 18 to set more offline outlets in new cities.

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Photo from 699pic.com

Auto part supply chain platform Casstime receives USD 23M for Series B

Casstime

Founder: Jiang Yongxing

Founded in: 2015

Financing status: RMB 150 million (USD 23 million) for Series B financing in 2017

Auto part supply chain platform, Casstime, received USD 23 million for Series B on October 18 to invest in market expansions.

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Photo from 699pic.com

Second-hand goods recycling platform iXiandou receives USD 15M for Series B

iXiandou

Founder: Fang Hao

Founded in: 2015

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

Second-hand goods recycling platform, iXiandou, received USD 15 million for Series B on October 19 to expand its logistic and warehouse system to more cities.

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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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