Start-ups in China continue to attract investors’ interest, the latest being Fclassroom that has raised $15 million in a Series B round led by California’s DHVC or Danhua Capital, and Shanghai-based online used car trading platform Tiantian Paiche that has closed Series C with $180 million total funding. Meanwhile, data analytics start-up Asking Data and food and snacks brand A1Food have secured Series A funding, CMN reported.
Tiantian Paiche raises $80m Series C
Tiantian Paiche, a Shanghai-based online used car trading platform, has raised $80 million led by Industrial Bank of China, taking its total Series C funding to $180 million. The round was also joined by investment institution Hanfor Capital Management. The start-up had raised $100 million in a Series C round led by private equity firm Pagoda Investment a year ago. Established in September 2015, the company has set up transaction service centers in over 40 cities across China, with monthly transaction volume of over 10,000.
DHVC leads $15m round in Fclassroom
Fclassroom, an artificial intelligence (AI) education firm based in China, has raised $15 million in a Series B round led by DHVC or Danhua Capital, a California-based venture capital fund founded by Stanford physics professor Shoucheng Zhang. The round also saw participation from XVC, a Chinese TMT focused venture fund. Fclassroom was founded by Chinese entrepreneur Li Kejia in 2014. It uses image recognition and natural language processing technology to develop a smart educational system to help students with their homework and exams. Fclassroom has worked with 1,800 K-12 schools with more than two million students and 3.2 million parents.
Asking Data secures $5.3m Series A
Baidu Ventures, the independent investment arm of the Chinese technology conglomerate Baidu, has led a $5.3 million Series A round in Beijing-based data analytics start-up Asking Data. IPV Capital and CDI Fund also participated in the round. Baidu Ventures was formed in September last year with an intent to invest in AI, augmented reality and virtual reality projects. Asking Data provides data analysis and predictions for enterprises.
Capital Today leads funding in A1Food
A1Food, a Chinese high-end food and snacks brand, has raised tens of millions of U.S. dollars in a Series A funding led by Capital Today, with participation from Dyee Capita. Capital Today is a Chinese independent private equity firm that caters to small and medium sized companies in retail, consumers, pharmacy, and Internet sectors. A1Food mainly sells nuts, pastry and other snacks.