By Ardi Wirdana
The fund’s investors include Neil Shen of Sequoia China, Zhang Tao of Meituan-Danping, Baidu founder Eric Xu, Salil Deshpande of Bain Capital Ventures, JP Gan of Qiming Venture Partners, and Annie Xu of Alibaba U.S.
The round was joined by Skystar Capital and existing investors Beenext and Convergence.
Truebil, an online marketplace to buy and sell second-hand cars, has raised close to $1 million in a fresh round from existing investor Kalaari Capital.
Tencent, whose internal venture arm is co-led by Forest Lin and Jeffrey Li, is one of China’s most prolific investors, seeding at least 600 companies.
Chinese startups Deep Intelligent Pharma and Meishubao has secured $15 million each in their latest funding rounds.
The latest financing will help RWDC accelerate the development of its polyhydroxyalkanoate (PHA) biodegradable biopolymers that it says can replace single-use plastics,
The Series B round was closed over two years after the company raised $2.57 million in its Series A led by Walden International.
IDG Venture’s move is as part of a broader strategy to move away from the global brand and appeal more to entrepreneurs in India.
The company’s top rival, Tujia.com, raised $300 million in October 2017 and is backed by Chinese travel-giant Ctrip.com International.
GoWork plans to use the proceeds to triple its footprint by next year, targeting over 100,000 sqm in operation by early 2020.