China Deal Monitor: Lianlian nabs nearly $14m and more updates

Hangzhou-headquartered software-as-a-service (SaaS) service platform dface.com, also known as Lianlian Technology, has gathered nearly 100 million yuan ($14 million) in a new round led by Invention Capital, a joint fund launched in 2018 by Ant Group and Xiaofanzhuo Investment. 

Other new investors include Z&H Investment, Aqua Ventures, and The Capital. Existing backer Cypress Capital also participated in the round, per a company statement on Thursday. 

Set up in 2013, Lianlian develops solutions catering to the retail and hospitality segments.

The company claims to have served China Resources, COFCO, Wanke, Wanda, Macquarie, China Poly Group Corporation, among others.  

Lianlian’s early-stage investors include Harvest Fund’s Ample Harvest Finance and Beihang Investment. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on August 12-13, 2020. 

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