China VC Weekly: Didi rival raises stakes, large injections from Xiaomi and ByteDance


In final week’s VC information, direct-to-consumer e-commerce platform Cider garnered $130 million for model constructing, Xiaomi AI firm backs Studio51, Didi rival CaoCao rakes in a large $589 million spherical, whereas TikTok proprietor ByteDance led a $31 million spherical for healthcare companies platform Hawkinsking.

Chinese language direct-to-consumer e-commerce agency Cider raises Sequence B spherical led by DST International

Chinese language direct-to-consumer (DTC) e-commerce platform Cider introduced on Thursday that it has accomplished a $130 million B-round financing led by DST International, adopted by Greenox Capital and A16Z. Cider has a present valuation of over $1 billion, making it one of many quickest rising unicorn firms on this planet.

Sider mentioned this spherical of financing might be used for model constructing, R&D of its programs and abroad enterprise enlargement. When it comes to strategic format, the agency mentioned it’s going to proceed to extend funding in its model and expertise by upgrading conventional manufacturing strategies with AI, large information and algorithms. Cider goals to construct clever factories and improve cross-border clothes e-commerce companies.

That is Cider’s fourth spherical of financing up to now yr. In September 2020, Cider acquired almost $10 million in angel funding led by A16Z and IDG Capital, whereas Dexun Funding, Fengrui Capital and Chuxin Capital adopted swimsuit. On the finish of 2020, Heyu Capital led the Pre-A spherical of financing. In Might 2021, Cider introduced the completion of Spherical A financing led by DST International and A16Z, adopted by IDG Capital and Descent Capital.

Cider. about

Based in Might 2020, Cider is a Chinese language DTC e-commerce platform specializing in abroad markets. Its merchandise are primarily low-priced and well-liked ladies’s clothes style. Cider has amassed one billion impressions on social media worldwide, together with shoppers in over 100 international locations, and has over 2 million followers from world wide. Presently, the agency has workplaces in Guangzhou, Beijing and Los Angeles with branches situated in New York, London, Seoul and Brisbane.

AI agency Studio 51 completes 100 million yuan spherical led by Xiaomi

Studio 51, an clever expertise firm collectively powered by AI, recreation engine and visible results expertise, has secured almost 100 million yuan ($15 million) in a financing spherical led by Chinese language electronics big Xiaomi, in line with a report Monday by 36Kr. Did it,

Xiaomi It was adopted by 37 Interactive Leisure and its present shareholders have been Shanghai Belief Bridge Companions Administration Co., Ltd. This spherical of funding might be used primarily to strengthen investments in product R&D and enterprise growth.

Presently, the corporate has offered Youku, Thunder Stone, Baidu . have compromised with Video, FunTV, Renren Video and HanjuTV.internet have grow to be their unique platforms for promoting service. It has iQiyi. has additionally established partnerships with the likes ofTencent Movies and extra.

Jiang Wen, Managing Director of Xiaomi’s Strategic Funding DivisionVideo expertise has been a long-term focus space for our firm’s strategic investments. Studio 51 boasts industry-leading advance expertise and an progressive enterprise mannequin in clever video promoting.

See additionally: Studio 51 led by Xiaomi receives nearly 100 million RMB

studio 51. about

Studio 51 is positioned as a world video expertise engine firm. After three years of R&D, the corporate has efficiently constructed NEURO, a video industrial SAAS platform. Utilizing automated real-time rendering and exact implementation of video advertisements, this platform can be utilized to create a digital advert area from video content material. The platform may also ship native movies with embedded advertisements primarily based on AI, visible results engine and different applied sciences.

Didi rival CaoCao raises $589 million in newest financing spherical

Caocao Chuxing, the ride-hailing arm of automaker Jelly, on Monday introduced the completion of a 3.8 billion yuan ($589 million) spherical B financing, which might be used to enhance companies for drivers and passengers, in addition to R&D and Okay. might be completed for Software of recent applied sciences.

Caocao Chuxing’s traders embody Suzhou Jiangcheng Monetary Holding (Group) Co., Ltd., Suzhou Excessive-Pace ​​Railway New Metropolis State-Owned Belongings Holding (Group) Co., Ltd., Suzhou City Development Funding and Improvement Co., Ltd. ABC Worldwide Funding (Suzhou) Co., Ltd., and Dongwu Innovation Asset Administration Co., Ltd.

This financing just isn’t solely the primary house fairness funding for the ride-hailing firm this yr, but additionally the most important financing for the ride-hailing firm in China since 2020. This means that traders could have recognized new alternatives on this area, probably because of the current ride-hailing big Didi investigation for China’s cybersecurity administration.

Gong Xin, CEO of Caocao Chuxing, mentioned, “The contemporary funds may also assist us to advance efforts in necessary duties corresponding to expertise analysis and growth, enterprise enlargement, service high quality enchancment and driver security, to additional improve our competitiveness. “

about caocao

Based in 2015, Caocao Chuxing supplies ride-hailing companies in 62 cities in China, with over 60 million registered customers, over 13.5 million month-to-month service customers, and three million registered drivers.

ByteDance Healthcare Agency Haoxinqing . $31m in results in the spherical

Chinese language on-line healthcare platform Haoxinqing has reportedly secured 200 million yuan ($31 million) in its Sequence C spherical of financing, specializing in central nervous system and psychological well being analysis. The spherical was led by TikTok proprietor ByteDance, which was additionally joined by notable healthcare traders Fosun Well being, life science and healthcare-focused Decheng Capital, PE agency Richen Capital and different traders.

Current shareholders 6 Dimension Capital and Korea Funding Companions (KIP) additionally raised their stake within the firm through the newest spherical. The startup’s monetary advisor, Chinese language funding financial institution WinX Capital, introduced the deal on Tuesday through a WeChat submit.

Extra about Haoxinqing

Established in 2015, Haoxinqing supplies on-line and offline psychological well being options protecting counseling, analysis and therapy of psychological issues by cellular apps in addition to brick-and-mortar clinics.



Supply hyperlink