China Deal Monitor: Galactic Energy raises $22m and more updates

Chinese space launch firm Galactic Energy has raised 150 million yuan ($22 million) in a pre-Series A funding round led by Puhua Capital and Huaqiang Capital, according to a company statement.

The round also saw the participation of LC Securities, Sichuan Entrepreneur Fund, Weed Ventures, and existing investors Plum Ventures and New Potential Energy Fund.

Winsoul Capital served as the financial advisor.

Galactic, headquartered in Beijing, claims to produce low-cost, high-frequency access solutions for the global space technology industry. The corpus raised will help the company develop solid-fueled rocket Ceres-1 for launch in 2020. Besides, the company also plans to use a part of the funding to perform tests on the main engine of its reusable Pallas-1 rocket, the first reusable liquid oxygen/kerosene carrier rocket in China.

So far, Galactic has raised as much as 300 million yuan ($43 million).

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from December 25, 2019 to January 2, 2020. 

Topping the table was Elpiscience Biopharmaceuticals Ltd (Elpiscience), a Shanghai-based firm, that raised $100 million in its Series B round of financing led by Hyfinity Investments. Other investors who participated in the round include Tencent Holdings, GTJA Investment Group, Dyee Capital, Oriza Holdings, Ming Bioventures, WisdoMont Asset Management, Parkway Global, and the existing investors Lilly Asia Ventures, Hillhouse Capital Group and CDH Investments.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
ElpiscienceShanghai100 millionBHyfinity InvestmentTencent Holdings, GTJA Investment Group, Dyee Capital, Oriza Holdings, Ming Bioventures, WisdoMont Asset Management, Parkway Global, Lilly Asia Ventures, Hillhouse Capital Group, CDH InvestmentsHealth Tech
AInnovationShenzhen57 millionBChina RenaissanceCICC Alpha, Esaif Capital, CreditEaseAI & Robotics
ChuxinBeijing33 millionBLan FundHejun Group, Jiawei Gan (Individual investor) AI & Robotics
Unitechem GroupSuqian29 millionBFoutainVest Partners-Cloud
Galactic EnergyBeijing22 million Pre-APuhua Capital, Hua Qiang CapitalLC Securities, Sichuan Entrepreneur Fund, Weed Ventures, Plum Ventures, New Potential Energy FundSpace Tech
Dtstack.comHangzhou* 14 millionBSDIC Venture CapitalShenzhen Capital Group, Hefeng Capital, HFI CapitalAI & Robotics
Mygene Guangzhou14 millionBShenzhen Capital Group, Cash CapitalFujian Zhanglong Sanjun, Great Wall FundHealth Tech
Space TransportationBeijing14 millionPre-AVolcanics VentureKeli Capital, Oriza Holdings, Zhencheng Capital, Source Code CapitalSpace Tech
GritWorldGuangzhou* 10 million A+C VenturesHillhouse Capital Group, Linear CapitalAI & Robotics
Muniu TechnologyBeijing7 million--JM Capital, Lima Capital, Jinbang CapitalAutomotive
Shenshang TechnologyBeijing6 millionAngelBAI CapitalPlum Ventures, Morningside Venture CapitalAI & Robotics
Shenzhen Wisonic Medical TechnologyShenzhen6 millionAAddor Capital-Health Tech
Chengdu Nuobikan TechnologyChengdu4 million ABojiang Capital-AI & Robotics
ArteryFlowHangzhou* 1 million A+Sinopharm Group (Shanghai)-Health Tech
Yunphant BlockchainHangzhou* 1 million A++--Blockchain
Songyang GroupHangzhou* 1 millionATengyun Dajiankang Management Group -Health Tech
Onlystem.cnShanghai* 1 millionBV-CapitalNt FundEd Tech
Tea BudsBeijing* 1 millionAngelBAI Capital, K2VCShangcheng Jiaxun CapitalConsumer & Brands
FeiboeduBeijing* 1 million A+Young FundGaosi Education, Kaiwu CapitalEd Tech
BooleandataHangzhou* 1 million--HZTi, Huaou Equity InvestmentAI & Robotics
BioheartShanghai* 1 millionB+bioVentureCd CapitalHealth Tech
llegg.cnShanghai* 1 millionASky Saga CapitalMonarch Capital, iStart Investment FundConsumer & Brands
WangbaobaoHangzhou* 1 millionASource Code Capital, Vertex VenturesDecent CapitalConsumer & Brands
Huihe TechnologyHangzhou* 1 millionAAqua Ventures-Consumer & Brands
Xiaoyun Info TechShanghai1 million AScore CapitalLangcheng CapitalCloud
RoulianbangLianshan-ADragonBall Capital-Consumer & Brands
Nebula LinkBeijing-APuhua CapitalZuig Investment, Haila Capital, Aopu Capital, Tianchuang CapitalAutomotive
Percipio.xyzShanghai- A+Panlin Capital-AI & Robotics

* 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.