China Digest: Instruction Set bags over $14m; Soterea closes Series A round

Instruction Set has raised 100 million yuan ($14 million) in its Series A round of funding from Zhejiang Paradise Silicon Valley Asset Management Group while Soterea has secured ‘tens of millions of USD dollars’ in a Series A round from SK China.

Instruction Set bags over $14m in Series A round

Chinese internet of things (IoT) driven software startup Instruction Set said it has garnered more than 100 million yuan ($14 million) in its Series A round from Zhejiang Paradise Silicon Valley Asset Management Group and other unspecified investors.

The startup plans to invest in its IoT management platform innovation, the company announced on WeChat. 

Headquartered in Hangzhou, the two-year-old Instruction Set is active in the IoT business providing IT infrastructure services for hotels, offices, campus spaces, among others. It claims that to have served over 300 clients. 

Instruction Set has established an R&D centre in Hangzhou as well as two subsidiaries in Shanghai and Chongqing. 

In 2019, Instruction Set had closed its angel round and equity investments from Zhongzhou Holding Group and Taiyou Fund, respectively. 

SK China backs Soterea in Series A round 

Commercial-vehicle driving safety solution developer Soterea has closed ‘tens of millions of USD dollars’ in a Series A round of financing exclusively from SK China, per a company statement. 

The developer, set up in 2014, offers smart safety services to the commercial automotive segment. It leverages new-generation technologies for its advanced emergency braking system, intelligent brake-by-wire system, and IoT cloud platform.

It counts a collection of Chinese motor giants as top clients including Foton Motor Group, BYD, SANY, Golden Dragon, Saic-iveco Hongyan Commercial Vehicle, among others. 

SK China, a subsidiary of Korean conglomerate SK Holdings, targets China-based investments in AI, semiconductor, information and communications technology, new material and logistics.

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.