Smart parking solutions developer AIpark has secured 300 million yuan ($42 million) in its Series C round of financing led by return backer Gaorong Capital, while biotechnology company Lc-Bio Technologies (Hangzhou) has garnered 115 million yuan ($16 million) in its Series B round of funding.
AIpark nets $42m in Series C funding
AI-driven parking solutions developer AIpark has secured 300 million yuan ($42 million) in its Series C round of financing led by return backer Gaorong Capital.
Other investors who participated in the round include state-owned Zhongguancun Science City and Changshang Kunzhong.
Gaorong Capital and state-owned sustainable energy player U.S-China Green Fund had collectively injected over 100 million yuan ($14 million) in AIpark’s Series A round in 2017.
Set up in 2015 and managed by Zhihui Hutong Technology, AIpark uses image recognition technology for smart urban parking management. Its flagship platform, AIpark City, is widely used in cities across Beijing, Shanghai, Guangzhou, Chengdu and Fuzhou.
Its other investors include CICC Capital, Qihang Fund, NIO Capital and Sanli Group.
Lc-Bio raises $16m in Series B round
Hangzhou-headquartered biotechnology company Lc-Bio Technologies (Hangzhou) Co., Ltd has garnered 115 million yuan ($16 million) in a Series B round of financing led by Heda Group’s healthcare-focused investment arm.
New investors Junchuan Capital and Taimeng Investment joined the round, while existing backers Sinowisdom, Zheshang Venture Capital and CrestValue Capital also participated.
Sinowisdom, Zheshang Venture Capital and CrestValue had invested 63.60 million yuan ($9 million) in the biotech firm’s Series A round in 2017. Long-term backer Zheshang also participated in its angel round as well as Series B round.
Driven by genomics and proteomics, Lc-Bio uses novel genome sequencing and gene chips to develop test kits for early detection in areas such as oncology.
With the proceeds, Lc-Bio aims to facilitate the commercialisation of DNA synthesis technology.