Crowdfunding website Kaistart announced a 33.5 million yuan ($5.2 million USD) series A funding round. The investment involved capital from Meridian Capital China, Tipping Point Partners, Jiusui Capital, and Zhejiang Wenchuang Group.

Kaistart is a crowdfunding platform for people to post personal projects, including films, books and small business ideas. Based in Hangzhou, Kaistart currently only has more than 50 crowdfunding projects on their platform, but has a 95% funding success rate. 

Following other ‘sheep husbandry’ startups in China, such as Renrenmu and Yunlianmuchang, Emubao closed a 30 million yuan ($4.6 million USD) series A. 

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com