China Deal Monitor: BOCI leads $28m Series B1 round in Shukun and more updates

AI-driven medical diagnosis service developer Beijing Shukun Network Co., Ltd has announced that it has secured 200 million yuan ($28 million) in its Series B1 round of financing led by BOC International Holdings Limited, a state-owned investment bank.

CCB International’s joint fund Jianxing Medical Fund participated in the latest round, which was also joined by existing investors Huagai Capital and CCV. 

The company will use the proceeds to develop smart detection capability for the nervous system, oncology and heart diseases.

Headquartered in Beijing, Shukun offers smart “scan to report” to help hospitals and clinics to maximize disease diagnosis efficiency management. It claims to have served over hundreds of leading hospitals including Peking Union Medical College Hospital, Beijing Friendship Hospital, The First Affiliated Hospital of Sun Yat-Sen University, among others. 

Shukun closed 100 million yuan ($14 million) in its Series A round of funding from Morningside Venture Capital, Huagai Capital, Marathon Venture Partners, and Lightsilver Capital in July 2018. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from June 11-15, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Tongcheng LifeSuzhou200 millionCJoyy Inc, Engage CapitalLegend Capital, Oriza Holdings, Tongcheng CapitalE-commerce
Beijing Yuanxin TechnologyBeijing85 millionD1-INCE Capital, CITIC Securities, Index Capital, Qiming Venture Partners, Sequoia Capital ChinaHealthTech
ImmviraShenzhen58 millionBHuagai CapitalApricot Capital, Cowin Capital, Hillhouse CapitalHealthTech
Baijia FoodChengdu28 millionBGL VenturesYishan Capital, MTCCBT, Before Capital, Cowin CapitalFoodtech
Beijing Shukun NetworkBeijing28 millionB1BOC Internatinal Holdings LimitedJianxing Medical Fund, Huagai Capital, CCVAI and Machine Learning
VisionNov RoboticsShenzhen14 millionB1Lenovo CapitalFlyfot Ventures, Eastern Bell CapitalElectric/Hybrid Vechicles
Maoruixin (Shenzhen) TechnologyShenzhen7 millionAAllin Capital, Jinpu Xinchao Investment ManagementPengchen InvestmentN/A
MounseyBeijing7 millionAN5 Capital-E-commerce
Shenzhen Tengshi TechnologyShenzhen* 1.4 millionAQualcommFounder H Fund, FH Capital, Dingqing VenturesAI and Machine Learning

∗ 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.