China Digest: Sequoia invests in AccuMedical; Qiming backs Kingsware

AccuMedical has garnered more than 100 million yuan ($14 million) in a Series B round of financing led by Sequoia Capital China, while Kingsware has raised approximately 100 million yuan ($14 million) in its Series A round from Qiming Venture Partners, Junsan Capital, among others. 

AccuMedical raises $14m led by Sequoia China

Chinese medtech company AccuMedical has garnered more than 100 million yuan ($14 million) in a Series B round of financing, according to a company statement on Monday. The round was led by Sequoia Capital China with participation from Huagai Capital.  

The fresh round follows the completion of its undisclosed equity interest investment from healthcare-based investment firms BioTrack Capital and Proxima Ventures in August 2019. Haoyue Capital served as the financial advisor for the latest deal. 

Beijing-based AccuMedical, which started operation in 2016, designs and makes neurovascular interventional medical devices.

“Neurovascular interventional therapy enables safe and efficient treatments for cerebrovascular diseases. We look forward to working with AccuMedical and other investors to facilitate the business development and develop better products and services,” said Sequoia Capital China’s managing director Yunxia Yang in the statement. 

Qiming backs Kingsware 

Zhuhai-headquartered robotic process automation (RPA) solution developer Kingsware has raised approximately 100 million yuan ($14 million) in its Series A round of funding led by Qiming Venture Partners, per a company statement.

Other investors who participated in the debut round are Junsan Capital, Huajin Capital, Taiya Dingfu Investment Management, Zhuhai Technology Venture Capital, Zhuhai Angel Fund and Zhuhai Talent Fund. 

The proceeds will be used for building up its innovation programmes, sales networks, and RPA developer group. 

Kingsware, a subsidiary of Shanghai-listed fintech service group Shenzhen Kingdom Sci-Tech, leverages AI technologies such as optical character recognition, natural language processing and automatic speech recognition to deliver RPA management softwares and platforms. It claims to have served over 200 clients from the financial services sectors.

 

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.