China: Alibaba fund backs Kneron, HowLiving; Yunfeng Capital leads funding in ZMT

Kneron
Image: Kneron website

Alibaba Entrepreneurs Fund has led two separate funding rounds — in AI solutions provider Kneron and Taiwan’s cooking video website HowLiving — while private equity firm Yunfeng Capital, which was founded by Jack Ma, has led a $27-million Series B+ round in ZMT Zhongmeng, the China Money Network reported.

Alibaba Entrepreneurs Fund backs Kneron, HowLiving

Alibaba Entrepreneurs Fund, a not-for-profit initiative run by Alibaba Group Holding Ltd, has led two separate funding rounds in artificial intelligence solutions provider Kneron and Taiwanese cooking video content platform HowLiving.

The funding in Kneron, which provides custom Deep Learning software solutions for image and video analytics, is estimated to be worth tens of millions of US dollars, according to a China Money Network report. The round in the San Diego-headquartered firm was joined by Qualcomm, Sequoia Capital China, Cyzone Angel Fund, CDIB Venture Capital, ThunderSoft, and Himax Technologies Inc.

Taiwan’s HowLiving raised $4 million in a pre-Series A round which was co-led by WI Harper Group. Cherubic Ventures also participated in the round.

Yunfeng leads $27m round in ZMT Zhongmeng

Private equity firm Yunfeng Capital has led a $27 million Series B+ round in ZMT Zhongmeng, a Beijing-based precision marketing services provider.

IDG Capital and Kinzon Capital also participated in the round.

ZMT offers mobile precision marketing solutions, covering life services, automobile, real estate, education, healthcare, finance, tourism, among others.

Yunfeng Capital was founded by Jack Ma and Chinese entrepreneur David Yu in early 2010. Headquartered in Shanghai, it has offices in Hong Kong, Beijing, Hangzhou, and other cities of China. The firm currently manages a number of US dollar funds, RMB funds, as well as special funds. Its focus sectors include internet, technology, healthcare, media & entertainment, financial services, logistics and consumer.

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