Nanjing-based e-invoicing supply chain platform Tcpjw.com has raised 150 million yuan ($21 million) as part of its Series B, B+ rounds from MatrixPartners China, DCM and top asset management firm Huagai Capital, according to a company statement on Tuesday.
The current round comes after Tcpjw secured ‘tens of millions of dollars’ in its Series A round from Bamb Capital and HK-listed home furnishings & building materials group China Lesso Group Holdings Limited in August 2018.
Tcpjw, founded in 2012 and managed by Jiangsu Yincheng Network Technology, is one of the largest e-invoicing supply chain platforms in China. Using big data, cloud and fintech innovation, Tcpjw creates a transparent online trading platform for enterprises to manage efficiency.
Besides, Tcpjw also cooperates with banks and third-party payment platforms to secure transactions.
As of 2019, the company generated about 2 trillion e-invoicing tickets while it claims to have helped reduce costs by 1.4 billion yuan ($200 million) for China’s small to medium-sized enterprises.
Founding proceeds will be used to upgrade its online platform and to expand its market.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 17, 2020.
Topping the list are two deals from the healthcare industry. Yantai-based biopharmaceutical firm RemeGen has completed raising over $100 million in a new funding round jointly led by China-based biomedical venture capital firm Lilly Asia Ventures, and Hong Kong’s healthcare investment fund Lake Bleu Capita.
And, Meizhong Jiahe Hospital Management Group, the China-focused healthcare services platform of New York-listed Concord Medical, has raised about 700 million yuan ($100 million) from CITIC Industrial Investment.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|RemeGen||Yantai||100 million||-||Lilly Asia Ventures, Lake Bleu Capital||Vivo Capital, Janchor Partners, Hudson Bay Capital, OrbiMed||Health Tech|
|Meizhong Jiahe Hospital Management||Beijing||100 million||-||CITIC Industrial Investment||-||Health Tech|
|Tcpjw.com||Nanjing||21 million||B, B+||MatrixPartners China||DCM, Huagai Capital||E-Commerce & Internet Economy|
|Matridx||Hangzhou||14 million||Pre-A||-||Proxima Ventures, Puhua Capital||Health Tech|
|Eoitek||Shanghai||10 million||B+||GGV Capital||-||AI/Robotics|
|Singular Medical||Suzhou||1.4 million||A||Qiming Venture Partners||-||Health Tech|
|Starsee||Nanjing||1.4 million||Pre-A+||-||GSR Ventures, JC Capital||AI/Robotics|
|Cellnuo||Nanjing||-||Pre-A||BGI CO-WIN||Dynamic Capital||Health Tech|
|Lypersics Semiconductor||Yizheng||-||Angel||-||Cowin Capital, Leimerious Capital||Hardware|