China Deal Monitor: VC-backed 6cloud closes funding and more updates

Chinese industrial internet security service provider Beijing Liufangyun Technology Company Limited, also known as 6cloud Tech, on Friday announced the completion of a new round of financing running into ‘millions of US dollars.’

The fresh round was joined by new investor China Science and Techinnovation Capital Management (CSCT) and existing backer Topping Capital. Cipher Capital served as the financial advisor. 

The proceeds will be used for product research and market expansion. 

Founded by Zengqiang Ten in 2018, 6cloud’s products serve the smart manufacturing, energy and power, rail transit, tobacco, education sectors among others.

Earlier in April, 6cloud secured its Series B round from Topping Capital, Fortune Capital, CSC Group and Infore Holding. Back in 2018, it had raised ‘millions of USD dollars’ in its Series A round funding from Sharewin Investment. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 16-17, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
UMU TechnologyBeijing14 millionBGaocheng-EdTech
Instruction SetHangzhou14 millionA-Zhejiang Paradise Silicon Valley Asset Management GroupInternet of Things
Stroke CareShanghai* 10 million C-Sherpa Healthcare Partners, Lyfe CapitalHealthTech
SotereaTianjin* 10 million ASK China-Autonomous Driving
InnerMedicalShenzhen* 1.4 million-Efung Capital-HealthTech
Hangzhou Lifereal BiotechnologyHangzhou* 1.4 millionA+Zheshang Venture Capital's innovation fund-HealthTech
iRegeneWuhan* 1.4 millionPre-A-Humanwell Healthcare's Group's industrial fund, Hua Fang InvestmentBiotech
6cloud TechBeijing* 1.4 million--China Science and Techinnovation Capital Management (CSCT),Topping CapitalInternet of Things
WaseeShanghai1.4 millionAngelWondertek-AR & VR
Fast LineShaoxing-Strategic InvestmentHikvision-Big Data
TuSimpleBeijing--Navistar-Autonomous Driving
Biren TechnologyShanghai--China Fortune-Tech Capital-N/A

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example. 

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.