China Digest: Huakong TsingJiao bags $78m; Whale nets $50m

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Huakong TsingJiao Information Science (Beijing) has garnered 500 million yuan ($78 million) in a Series B round while digital marketing operation platform Whale has secured $50 million. 

Huakong TsingJiao bags $78m in Series B

Beijing-based data technology startup Huakong TsingJiao Information Science (Beijing) Limited has garnered 500 million yuan ($78 million) in a Series B round of financing.

The new corpus brings the firm’s valuation to over 4 billion yuan ($621 million), per a company statement on Wednesday. 

Besides existing investor Lenovo Capital, the fresh round also roped in a clutch of new investors – China Renaissance, state-backed Beijing Zhongguancun Science City Construction Holding, technology-focused Everest VC, and Cowin Capital. 

Huakong TsingJiao’s shareholders include China’s Tsinghua University and Hong Kong Exchanges and Clearing Limited (HKEX). Its previous backers also include Gaorong Capital, Lotus Lake Capital, National Internet Finance Association of China’s sub-fund Zhonghu Jiaotou Fund Management, among others. 

Whale secures $50m in Series B 

Singapore’s state investor Temasek has led a $50-million Series B round funding in Hangzhou-based digital marketing operation platform Whale.  

Returning investors – NIO Capital, Linear Capital and Alpha Startups – have made follow-on investments in the round. The three investors alongside an undisclosed investor had together poured ‘tens of millions of US dollars’ for Whale’s Series A+ round funding late last year. 

Boutique investment bank Silver Oak Capital served as a financial advisor for the deal, per a company statement on Wednesday. 

Going forward, Whale will allocate the proceeds toward business development, global expansion and cloud platforms. 

Whale has served over 100 retailers and consumer brands like Unilever, Watsons and Midea. 

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.