China Deal Monitor: Sinovation leads $30m in Deltaphone and more updates

Beijing-headquartered industrial internet services developer Deltaphone has raised 200 million yuan ($30 million) in a Series A+ round of financing led by Sinovation Ventures.

With this, Deltaphone has raised a total of $45 million in 2020, according to a company statement. Sinovation Ventures, China Merchants Capital and Yunqi Capital had together invested 80 million yuan ($16 million) in Deltaphone in June this year. 

The fresh round was joined by state-owned China Merchants Capital and Cash Capital, besides Puhua Capital. Existing backer Yunqi Capital re-invested in the fresh round. 

Deltaphone will deploy the proceeds towards product innovation and business development.

Founded by CEO Qingjie Wang in 2015, Deltaphone enables digital transformation for enterprises in the energy and power, petrochemical, tobacco and manufacturing sectors. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on October 19-20, 2020. 

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