China Digest: Guoke Hengtai raises Series B; UrWork gets $46m from Yintai Land

CASH Capital Investment Management Co Ltd and Legend Capital have led a series B round in a medical device logistics provider, while Chinese startup UrWork has raised $46 million in a pre-Series B round.

CASH Capital, Legend lead Series B round in Guoke Hengtai 

Beijing-based CASH Capital Investment Management Co, Ltd. and Legend Capital have led a series B round worth millions in Guoke Hengtai Medical Technology Co., Ltd, a medical device supply chain service provider.

Northern Light Venture Capital, Aeon Life, Frontline Bioventures and Blue Ridge China also participated in the round.

“(We) optimize resources allocation and help suppliers, logistics companies and medical firms to achieve efficiency,” said Liu Bing, founder of Guoke Hengtai (Beijing) Medical Technology.

CASH Capital is an investment arm of the Chinese Academy of Science Holdings. Legend Capital had in June reportedly invested $26 million in Kaola FM, an audio program network run by China’s AutoRadio Group.

UrWork secures $46m from Yintai Land

UrWork, which provides co-working space to individuals and small companies, has secured strategic investment of $46 million in a pre-Series B round from Chinese commercial property developer Yintai Land and Zhongrong International Trust Co Ltd.

UrWork plans to open in 36 locations across 16 cities in China. That will equate to 120,000 square meters of office space with 20,000 desks.

The company also offers legal and accounting services, marketing, healthcare, cloud computing, investor introduction and events to its members. UrWork has been gaining traction in the past year. In early March, the company, founded by a former executive at China Vanke Co., Ltd. secured over $31 million in a series A round from Gopher Asset Management Co Ltd.

Also Read:

China: Northern Light Venture, New Horizon lead $100m Series D in Beibei.com

China: Hua Medicine raises $50m in Series C round led by Harvest Investments

China Vanke may issue new shares to acquire a company

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.