Fangdd, a popular Chinese real-estate platform announced they had closed a series C funding of $223 million USD led by Fountainvest Partners this July. The company announced series B funding of $80 million USD just two months ago from Vision Knight Capital China Fund, Lightspeed China Partners, and CDH Venture Partners. The Chinese government has recently eased restrictions on owning multiple […]
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Used Car Trading Platform Youxin Lands US$170M Round Led by Baidu
Chinese used car trading platform Youxin has reportedly secured US$170 million of Series C funding from Baidu, KKR and Coatue, just six months after receiving a whopping US$260 million B round led by Warburg Pincus and Tiger Fund. A US$30 million Series A funding was raised from Legend Capital, DCM, Bertelsmann Asia Investments and Tencent in 2013. Founded […]
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Car Maintenance B2C Platform Tuhu Completes $100M USD Series C Funding
Shanghai-based Lantu Information Technology, operator of car maintenance B2C platform Tuhu, has raked in nearly $100 USD in series C funding from Joy Capital, Welkin, Far East Horizon and Haitong. Existing investors, Legend Capital and Qiming Venture Partners, also participated. The investment is earmarked for team, technology and offline expansion in a bid to maintain sustainable […]
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Exclusive: Pictures from World Internet Conference suggest WeWork, URWork on an “ice-breaking tour”
Like its previous versions, the ongoing World Internet Conference in Wuzhen has attracted the biggest names in China’s tech industry. Official meetings and keynotes aside, more casual business dinners, which gather China’s, or even the world’s richest technology tycoons, offered precious opportunities for them to get connected and share insights. It’s in China after all, […]
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China’s Craglist 58.com To Invest 100 O2O Startups: Here’s the List… So Far
Chinese local listing site 58.com, which Tencent holds a stake in, is among the most active investor and acquirer of Chinese internet startups this year in an attempt to drive its O2O initiative. A total of $1.5 billion USD funding was injected in various projects since the beginning of this year, said 58.com Chief Strategy Officer Chen Xiaohua […]
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Live from TechCrunch – How can a foreign hardware company enter China?
Shenzhen, the Silicon Valley in China, is becoming a must-destination for the foreign hardware startups to start their business. On the other hand, Chinese startups are starting from Shenzhen and expanding to global markets, such as educational robot kit Makeblock, drone maker DJI, and smartphone manufacturer Huawei. In the panel “Startup in Shenzhen”, Benjamin Joffe, Partner […]
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4 take aways from 34 new Chinese unicorns in 2017: IT Juzi report
A “unicorn” refers to those companies less than 10 years old and valued at $1 billion or more. There were 34 Chinese new unicorn companies in 2017 that match these conditions, according to a new report released by Chinese startup database IT Juzi (IT桔子). In the first half of 2017, rental economy startups gained prominence […]
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We tried Starbucks Roastery’s AR game, and this is what we think
The practice of drinking tea has a long history in China, having originated there during the Tang Dynasty. But in 2017, the practice of drinking coffee could be adding a new chapter to its history in China. For those living in Shanghai, last week’s WeChat Moments were filled with Shanghai locals posting pictures and selfies […]
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Slush Panel: Connecting startup communities and ecosystems
Why do we attend so many business events and meet-ups? While the idea of a startup might be based on beginning a business online and hoping to see exponential growth by attracting millions of internet users to their product, we know that it’s human-to-human connections that actually make things happen and these are done offline. So why do we […]
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Are China’s bike-sharing platforms really part of the sharing economy?
China’s O2O market has seen quite a few companies doing interesting things, some succeeding, some failing. The latest hot vertical is bike-sharing. According to the China’s bike sharing industry mini-report by China Channel, Mobike (backed by Tencent and Foxconn) and Ofo (backed by Didi and Xiaomi) are clear market leaders amongst growing competitors. Founded in January 2015, the […]
