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.