China Deal Monitor: Smart city operator CCI snags funds and more updates

AI-based smart city internet operator City Cloud Technology Co Ltd has secured a strategic investment from blockchain provider Hangzhou Qulian Technology Co. Ltd (Hyperchain). 

Following the deal, Hyperchain will become a majority stakeholder in CCI.

Set up in 2012, CCI seeks to provide intelligent products and solutions to expedite digital transformation. CCI has launched the concept of the Internet of City, an ecosystem that combines new technologies such as big data, AI and IoT.

Headquartered in Hangzhou, CCI has offices in Hong Kong, Beijing, Shanghai, Chengdu and Wuhan. 

As part of the latest partnership, the firm will deploy blockchain products and solutions to boost efficiency in areas such as smart parking, cross-border e-commerce, and banking. 

CCI previously raised as much as 500 million yuan ($73 million) from state-owned real estate developer Greenland Group and Country Garden Holdings Co.  

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on January 15, 2020. 

Topping the list is Marching-power.com, a power semiconductor software developer, which has raised nearly 100 million yuan ($14 million) in its Series B1 round of financing from Delta Capital, Sunic Capital, Nanjing Dynamic Balance Investment Management, Dailanhe Capital, Shenzhen Hicr Capital.  

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Marching-power.comNanjing14 millionB1-Delta Capital, Sunic Capital, Nanjing Dynamic Balance Investment Management, Dailanhe Capital, Shenzhen Hicr CapitalSoftware & Services
Shenzhen Tisenc Medical DevicesShenzhen12 millionBTF Capital, Elink Venture CapitalQiming Venture PartnersHealth Tech
Taos DataBeijing10 millionPre-AGGV CapitalSequoia China Seed Fund, Yonghui Ruijin Venture CapitalIoT
City Cloud TechnologyHangzhou-Strategic Investment-HyperchainBlockchain

* 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.