China Digest: 51HiTech, NewBanker, Accutar Bio secure funding

Photo by Eddie Kopp on Unsplash

SenseTime has made its first major investment by joining Modern Land to lead a Series B round in 51HiTech. Meanwhile, NewBanker and Accutar Biotech also announced the closure of their latest rounds.

SenseTime, Modern Land lead $32m Series B in 51HiTech

Hong Kong-based artificial intelligence startup SenseTime and Chinese property developer Modern Land (China) Co Ltd have led a $32-million Series B round in Beijing-based virtual reality (VR) and augmented reality (AR) company 51HiTech.

This is the first major investment by SenseTime since it secured $227 million from Alibaba recently.

Other participants in the round included Shanghai Pudong Development Bank, Silicon Valley Bank, Lightspeed China Partners, Shenzhen Green Pine Capital Partners, Green Living equity investment fund and Star VC, according to a China Money Network report.

Founded in 2015, 51HiTech has developed VR and AR technologies for real estate developers to demonstrate their products to customers, while it is expanding its services to automobiles, education and gaming sectors. It will use the latest funding to expand its workforce, update autonomous driving systems and enhance its VR and AR technologies.

NewBanker closes pre-B round

NewBanker, a Beijing-based wealth management service tech startup, has secured tens of millions of RMB in a pre-B round led by Genesis Capital. The round was joined by Matrix Partners China and Atlas Capital.

The proceeds will be mainly used to expand the technical team, improve its products and services and deepen the industry’s research, the company said.

It completed an RMB25-million pre-A financing round from Matrix China in June this year, according to reports in the Chinese media. NewBanker offers business support, customer acquisition and product management systems for wealth managers. It targets to serve over 100 wealth managers by the end of next year.

Accutar Bio secures Series A funding

Shanghai-based biopharmaceutical firm Accutar Biotech has raised an undisclosed sum in a Series A round led by IDG Capital and Yitu Technology, China Money Network has reported.

Accutar Biotech has employed artificial intelligence technology to accelerate drug discoveries.

Also Read:

China Digest: ALO7 gets $37.5m led by Legend; Alibaba invests $227m in SenseTime

Walgreens to buy 40% stake in Chinese pharmacy chain for $416m

CEC Data leads $60m series C in Chinese doctor app Medlinker

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.