China DB: Yunmanman fundraise; WI Harper, JAFCO to exit Suzhou MedicalSystem

China’s freight transportation and logistics mobile app company, Yunmanman, has raised $160 million in new funding, while venture capital firms WI Harper Group and JAFCO Asia plan to exit hospital IT operator Suzhou MedicalSystem following its successful IPO last week.

New funding for logistics app operator

Yunmanman has obtained $160-million worth of funding from two undisclosed international investors, with participation of existing backers, according to Chinese media reports. The new funding includes a $50-million series C2 round completed five months ago, and a $110 million series D round that was closed recently.

Proceeds from the new round will be used on big data and artificial intelligence, the company said. It is planning to improve matching efficiency between cargo and truck drivers, as well as monitor road conditions.

The Jiangsu province-based company raised a series C round led by Yunfeng Capital back in August. It had also raised venture funding from other investors such as Lightspeed Venture Partners, and Sequoia Capital.

Yunmanman started in 2013 as a tool for vehicle and cargo management for both cargo owners and truck drivers. The company, which operates via Ymm56.com and a number of mobile apps, has about 800,000 registered cargo carriers and 3.5 million truck drivers.

JAFCO, WI Harper exit healthcare firm

Venture capital firms JAFCO Asia and WI Harper will initiate the process to exit Suzhou MedicalSystem after the company completed its A-share listing in the Shanghai Stock Exchange last week, ChinaMoneyNetwork reported.

Liu Yuhuan, chairman of WI Harper, said in a statement, “Smart healthcare brings great value to the people, and the company has helped move China’s healthcare industry forward.”

WI Harper made its initial investment in the company about nine years ago, where in 2007 it invested an undisclosed amount. In 2009, WI Harper joined JAFCO Asia in a $10 million funding round for MedicalSystem.

Founded in 2005, MedicalSystem provides the technology infrastructure for hospitals to digitise their operations, including smart operating room, smart ICU, smart emergency operations, and smart specialty care. The firm claims to be the first medical information and IT company listed on the Shanghai Stock Exchange.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.