It’s raining money in China, as we saw nine startups out of 13 covered in this roundup coming from China. The biggest fundraise has got to be online liquor store Jiuxian, which received US$48.8 million. Congratulations to all startups!
Chinese online education startup Xingshuai Teach received a US$30 million series B round of funding from Northern Light Venture Capital and Legend Capital. Founded in 2008, Xingshuai Teach began as a website for learning Photoshop. Since then, it has accumulated 32 courses, most in the areas of graphics, images, video, and design. The curriculum is a combination of interactive video and forum discussions. Xingshuai also has a mobile app so students can learn on the go.
Major Chinese online liquor store Jiuxian announced it received a RMB 300 million (US$48.8 million) equity investment from a handful of China’s state-run banks, including China Merchants Bank, Minsheng Bank, Shanghai Pudong Development Bank, and Jinzhou Bank, among others.
This is Jiuxian’s sixth round of financing, adding up to a total of RMB 930 million (US$151 million) in total funding since its series A in 2011. Previous investors include Sequoia Capital, Rich Land Capital, and Oriental Fortune Capital. It is reported that the company will soon seek an IPO, but the exact timeline isn’t known.
Mobile application testing platform Testin announced it concluded a series B funding round led by IDG Ventures. Its previous round was last raised in late 2011 and is also from IDG Ventures.
Mobile travel app TravelPi announced it raised RMB 5 million (US$813,000) in angel funding from WuYue Investments. It is currently in the midst of raising its next series A funding round.
Meeting venue booking platform Huixiaoer announced it raised series A funding from IDG Ventures.
Lagou, a Chinese job site that focuses on internet technology-related jobs, announced it raised US$25 million in series B funding, led by Qiming Ventures, with participation from Bertelsmann.
Chinese big data startup Xintu Shuju recently closed series A funding. Details of the investment were not revealed.
Chinese O2O social networking platform Yuenimei recently launched a new app called Yueni, and has also raised US$3 million in series A funding from Xiangjiang Ventures.
Caipiaobao, a Chinese entertainment platform that allows users to make purchases, enquiries, and prediction for lottery tickets, has announced that it has raised RMB 30 million (US$4.9 million) in series A funding. It currently has around 5 million users on its platform.
Cloud-hosted one-stop portal, VersaFleet, is designed to help fleet operators effectively manage their operations. It has raised S$589,000 (US$471,000) in seed funding led by Get2Volume, with co-funding from Singapore’s National Research Foundation (NRF) under its Technology Incubation Scheme.
Just two months after securing US$10 million in series B funding, cab aggregator TaxiForSure has just landed an additional US$30 million. This fresh infusion of captial came largely from Accel Partners US. Existing investors Accel India, Bessemer Venture Partners, and Helion Venture Partners also participated in this series C round of funding, for which exact figures are not known.
Spavista, an Indonesian platform that lets consumers search for and book beauty and wellness services, announced it has received an angel investment amounting to S$200,000 (US$160,000) from the founding team of Singapore’s automotive marketplace SGCarMart. The Bali-based team will use the cash to hire a few people in Jakarta as it focuses on acquiring more partners in the capital city area.
13. Research & Innovation | Japan
Research & Innovation is a Japanese startup that specializes in market research support. It announced it has received JPY 220 million (US$2.12 million) in funding from Mizuho Capital, Jafco, and DBJ Capital. Mizuho Capital participated in both previous funding rounds from 2012 and 2013.
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