China Deal Monitor: Baidu-backed Lightelligence snags funding and more updates

Baidu Venture (BV)-backed optical chips startup Lightelligence on Monday announced the completion of ‘tens of millions of US dollars’ in a Series A+ round of financing from semiconductor-focused CTC Capital, the company announced on WeChat. 

The latest round comes after it secured $26 million in its Series A round funding from BV, Matrix Partners China, CICC Silicon Valley Fund, China Merchants Venture, Vertex Ventures, Casstar and Frees Fund in April 2020. In 2018, BV and ZhenFund had together injected $10.70 million in its seed funding round. 

Co-founded by Yichen Shen in 2018, Lightelligence, an AI-oriented photonics solutions developer,  provides chip products for a slew of fields including automobile and household appliances. The company is based in Boston and Shanghai. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out 15 prominent venture capital transactions in the Greater China region from July 2-6, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
KK Group Shenzhen142 millionECMC Capital BA Capital, Hongtai Aplus, INCE Capital PartnersE-commerce
FineExShanghai71 million DBaidu CapitalRussia-China Investment FundE-commerce
Zongteng Group Fuzhou71 million C1Taikang Insurance GroupXiamen C&D, Zheshang Innovation Capital, Fuzhou Financial Holdings, JAHGE-commerce
CF PharmTech Suzhou50 millionFBioTrack Capital, CICC QichenCICC Qide, SAIC Hengxu, GP M&A Fund, Wosheng Investment Management, Passion Capital, Yuanming CapitalHealthTech
XSKY (Beijing) Data TechnologyBeijing45 millionDChina State-owned Venture Capital FundTsinghua Holding's investment arm, Qiming Venture PartnersSaas
eRoad SoftwareShanghai28 millionC3Huaxing Growth Capital-HR tech
iMotion Automotive Technology (Suzhou)Suzhou14 millionB1CCB International's sub-fundHeyu Yihao Investment, Leading Ideal, Future Capital, Shenzhen Guozhong Venture Capital ManagementAutonomous Driving
LightelligenceShanghai/Boston* 10 millionA+CTC Capital-AI and Machine Learning
OrayShanghai10 millionStrategic Investment Gaocheng Capital-Saas
neoX BiotechBeijing10 millionPre-AVision Plus Capital, Sequoia Capital ChinaMorning Ventrure CapitalHealthTech
Zhige TechnologyBeijing* 1.4 millionEquity Investment TGH Ventures, TusStarAR & VR
3D Printing TechnologyBeijing* 1.4 millionBCICC CapitalNanning Gaoxin Industrial Fund, Xizi Capital3D Printing
DongshifuBeijing* 1.4 millionPre-AINCE Capital, Albatross VentureZhan Wang (Individual Investor)E-commerce
Darbond TechnologyYantai* 1.4 million-Triniti Capital-N/A
Qingtao DevelopmentKunshan-E+SAIC CapitalKunshan Guochuang Investment Group, Huai'an City Water Holding Group's unitCleanTech

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 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.