China Digest: Henlius, Huitongda, Mustliten, WM Motor, Chomp Cloud get funding

A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan

The start-ups in China continue to attract investors’ attention. Henlius, Huitongda, Mustliten, WM Motor, and Chomp Cloud have recently secured funding, reports CMN.

Henlius issue additional shares for $190m

Shanghai Henlius, has raised $190 million in a strategic financing round from Shanghai Fosun Pharmaceutical, and other investors including Shenzhen GTJA Investment Group, Joyful Ascent, and Green Tomato. Henlius is a joint venture established by Shanghai Fosun Pharmaceutical (Group) and Henlius Biopharmaceuticals. As part of the deal, Fosun Pharma will acquire 14.6 million additional shares in Shanghai Henlius at RMB22.71 per share, while other investors will buy a total of 40.8 million additional shares in the company at RMB22.71 per share, for $140 million.The company focuses on the development, production and commercialization of mAb biosimilar drugs, bio-betters and novel mAbs using cutting-edge technology.

China Green Fund invests $76m in Huitongda

China Green Fund, an innovative private equity firm with a focus on green investments, is making an investment of $75.8 million in Huitongda Network Co Ltd. Founded in 2010 in Nanjing, Huitongda started its rural e-commerce network in 2012. Through its platform, Huitongda provides franchise members with training tools, financing, supply chain management, and sales support to better serve their rural customers.

Shangshi Fund backs Mustliten

Mustliten Background Music has raised an undisclosed amount in a Series A round of funding led by Shangshi Fund. Based on intelligent data analysis, Mustliten is a Shanghai-based smart background music system developer. Its app can recommend and provide background music to stores according to business requirements.

Tencent, Sequoia invest in WM Motor

Shanghai-based WM Motor, has closed another round of financing from investors including Tencent Holdings, Sequoia Capital China, Minmentals Development Co., Ltd, and China Structural Reform Fund Co., Ltd. Founded in 2015, WM designs, develops, and manufactures electric motor cars. Its first mass-produced model EX5 is a battery electric and intelligent SUV, the production of which will start in the first quarter of 2018.

Chomp Cloud raises $10m Series A+

Chomp Cloud, retail space and service platform targeting catering industry, has raised $10 million in a Series A+ round of funding led by BlueRun Ventures. Chomp Cloud, which operates under shiyunji.com, provides hardware, software solutions, store operation, brand promotion and other infrastructural services.

 

 

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.