China Digest: Vertex leads Geek+ round; Qiming invests in Hypereal

Image from Geekplus.com.cn

Temasek-backed Vertex Venture Holdings has led a series A+ funding round in logistics robot developer Geek+ while Qiming Venture has invested in series B round of VR headset maker Hypereal.

Vertex leads $14m round in Chinese logistic robot firm

Vertex Venture Holdings, a venture capital subsidiary of Singapore’s Temasek Holdings, has led a RMB100 million ($14 million) series A+ round in Beijing-based intelligent logistics robot developer Geek+, according to a report in China Money Network.

Last May, the Chinese firm secured RMB50 million ($14 million) from Banyan Capital and Volcanic Stone Investment, who also joined this new round.

The company claims that over 300 robots are used in China including Suning Commerce Group and Alibaba’s e-commerce firm Tmall. The proceeds from the latest round will be injected for research and development and business expansion.

Qiming Venture leads series B in Chinese VR headset maker

Qiming Venture Partners has led a $10 million series B round in Shanghai-based virtual reality headset developer Hypereal, which aims to be a leading global VR solution provider.

Hypereal had secured tens of millions US dollars from SIG in 2015 before launching its first VR headset product Pano in 2016, according to a report on China Money Network.

“Visual reality and augmented reality industry is one the most promising industries in the next ten years. The experience which was brought by visual reality is unique,” said Ye Guanqin, a partner at Qiming Ventures. “We think Hypereal is one of a few companies that have the ability to develop both software and hardware. We are confident with the future of the company.”

The report also cited that there were total 36 deals raising $1.2 billion from China-based investors in VR and AR industry last year. The deals included CITIC Capital’s investment in a $35 million series B round of another VR headset producer Baofeng Mojing.

Also read:

Vertex Ventures set to beat $150m target for SE Asia & India focused fund: Kee Lock

Singapore: EDBI & Vertex Ventures-backed Ivantis closes $25m Series C

China: Qiming Venture Partners backs rehab institution LIH Investment

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.