China Deal Monitor: AI startup Aibee raises $74m and more updates

Artificial intelligence guided startup Aibee has gathered 522 million yuan ($74 million) in its Series A1 round of financing led by ClearVue Partners, Singularity Power Capital (SPC), per a company statement released on Thursday.

GSR Ventures, Chow Tai Fook Jewellery Company, and existing investor Sequoia Capital also joined the round. Aibee has raised as much as 1 billion yuan ($170 million) to date since it was set up in 2017.

Co-founded by Yuanqing Lin, former head in Baidu Research, Aibee serves AI total solutions to vertical industries. It offers solutions across streams such as computer vision, speech recognition, natural language understanding, big data analytics and robotics to provide operation management inputs for retail and tourism industries.

Aibee has partnered with companies such as Wanda Group, K11, Macalline, and Beijing Daxing International Airport.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on December 4-6, 2019. 

Among the top deals in the table, Sequoia Capital has backed a $10-million pre-A round funding in artificial intelligence solution provider Graviti.

Meanwhile, Hong Kong-based AI service platform Area28 has bagged 15 million yuan ($2.15 million) in its seed round led by Alibaba and Vectr Ventures.  

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
AibeeBeijing74 millionA1ClearVue Partners, Singularity Power CapitalGSR Ventures, Chow Tai Fook Jewellery Company, Sequoia CapitalAI/Robotics
Suzhou Ribo Life ScienceSuzhou28 million C1Panlin Capital, BaxxonLegend Capital, China SDIC Gaoxin Industrial Investment Corp, Hanyang Capital, Blue Ocean Capital, InnoSpring, Daxie Yungong Capital, Zhonghui CapitalHealth-Tech
Hygea Medical TechnologyBeijing28 millionBBeijing Jianxing Medical FundKunying Capital, Shuncheng CapitalHealth-Tech
Dami&XiaomiShenzhen14 million BbioVenture-High-Tech
RizhiyiBeijing11 million BDanhua CapitalCGP Investment, Sequoia Capital ChinaAI/Robotics
GravitiShanghai10 millionPre-A-Sequoia Capital, Yunqi Capital, Zhen Fund, Fenghe Fund ManagementAI/Robotics
LeagsoftShenzhen9 million -Fortune Capital-Software & Service
Jinxing TechnologyShenzhen7 millionA+Hongta CapitalBright Venture CapitalHigh-Tech
Area28Hong Kong2.15 millionSeedAlibaba, Vectr VenturesAPES Ventures, Bright Success Capital, Ironfire VentureMedia & Entertainment
UnimeddxShanghai* 1 millionACICC Capital-Health-Tech

* indicates that the company did not provide the specific size of the deal but only a range, such as “hundred millions of yuan.” In this case, we adopt the smallest number in the range, which is “100 million yuan ($14 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.