TDHX, a Chinese firm that develops intelligent security solutions for industrial process control, has raised nearly 200 million yuan ($28 million) in Series C and C+ rounds of financing.
The Series C round was led by Chinese venture capital firm Addor Capital, while the Series C+ round was backed by Shenzhen-based telecom equipment manufacturer ZTE Corporation and Chinese investment platform Green Pine Capital Partners, TDHX announced in a statement released on its WeChat official account on Friday.
TDHX, founded in 2007 and fully known as TDHX Industrial Network Security, operates as a high-tech enterprise providing solutions for industrial process control, including the protection of information security, detection, and analysis, safety assessment, as well as consulting services.
The company has offered services to over 300 clients across 29 provinces in China, covering industries like transportation, energy, government affairs, and smart manufacturing.
Proceeds will be used for the research and development of technologies and products used in industrial process control, as well as the expansion of strategic cooperation with companies in other industries.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from October 24 to October 25, 2019.
Among the largest deals in the table, Kujiale, a Chinese software as a service (SaaS)-enabled home decoration and design platform, grabbed a massive amount of capital in a Series D+ round, paving its entry into the unicorn club at a valuation of over $1 billion.
Transwarp Data Hub, a Shanghai-based data processing provider, secured 500 million yuan ($70 million) in a Series D2 round led by Goldstone Capital, CICC Capital, among others, to innovate its big data-driven ecosystem.
The three largest investments in the past two days were all raised by startups aiming to leverage more digital and intelligent solutions and services to disrupt traditional industries, including home design and decoration, data management, and corporate marketing and operation.
“The wave of digital transformation has brought great market opportunities,” said Jason Xi Xingjie, head of tech and enterprise services at China Renaissance, commented on the $50 million Series B round raised by Chinese intelligent digital service provider Yunxi Technology.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|#Kujiale||Hangzhou||100 million||D+||Hillhouse Capital Group||Shunwei Capital, GGV Capital||Cloud|
|Transwarp Data Hub||Shanghai||71 million||D2||Goldstone Capital, CICC Capital||Bohai Capital||AI & Robotics|
|Yuxi Technology||Guangzhou||50 million||B||Oriza Holidings, Xiang He Capital, Sequoia Capital China||Software & Services|
|Emotibot||Beijing||45 million||B+||V Fund, Lingfeng Capital||Keywise Capital, Zhongan Holding, Puhua Capital||AI & Robotics|
|TDHX Industrial Network Security||Beijing||28 million||C, C+||Addor Capital||ZTE Corporation, Green Pine Capital Partners||Software & Services|
|Qunjielong/Shangshi Technology||Guangxi||5 million||A||SIG||Zero2IPO Group, GSR Ventures||E-Commerce & Internet Economy|
|MobLab Inc||Beijing, Pasadena (the United States)||*1 million||ANF, New Oriental Education & Technology Group||EdTech|
|Pengyun Network||Nanjing||B||Envision Capital||Software & Services|
* indicates that the company did not provide the specific size of the deal but only a range, such as “hundreds of millions of yuan.” In this case, we adopt the smallest number in the range, which should be “100 million yuan ($14 million)” in the example.
# indicates that the company has reached the unicorn valuation of at least $1 billion after the new funding round.