China Digest: XiaoduoAI nets over $28m; Etern bags nearly $14m

Customer Service Robots

AI-driven smart chat solutions provider XiaoduoAI has raised over 200 million yuan ($28 million) in its Series B+, C rounds of financing, while biopharma company Etern has raised approximately 100 million yuan ($14 million) in a Series A round. 

Xiaoduo nets over $28m in Series B+, C rounds

AI-driven smart chat solutions provider XiaoduoAI (Xiaoduo) on Monday announced the completion of over 200 million yuan ($28 million) in its Series B+, C rounds of financing. The Series B round was led by Shanghai-based investment management firm Silicon Harbour, while it raised its Series C round from private equity company Vision Knight Capital. 

Existing investors Vertex Ventures China and Oriza Holdings have also participated in the Series C round. Chinese investment bank Scheme Capital acted as a financial advisor, according to a company statement.  

Chengdu-headquartered Xiaoduo offers robotics-based customer service solutions to enterprises. Its solutions cater to sectors such as e-commerce, education and training, financial services.

Some of its top clients include Meituan, electrical appliance giant Midea Group,  smart projectors player XGIMI, University of Science and Technology of China, China Telecom, among others. 

The startup will invest the proceeds in R&D and market development. 

Biopharma firm Etern bags nearly $14m in Series A round

Shanghai-headquartered biopharma company Etern has secured approximately 100 million yuan ($14 million) in a Series A round of financing jointly led by healthcare-focused investment vehicles Apricot Capital and TF Capital.

The current round also saw the participation of existing investor Bohe Angel, per a company post on WeChat. 

Etern will deploy the capital to expedite R&D efforts and for early-stage clinical trials. 

Set up in 2018, Etern is developing small molecule innovative drugs for oncology therapies. Etern has launched two pipelines in preclinical-stage trials. 

Previously, Etern had garnered millions of dollars in its angel round from Bohe Angel and Shanghai Nuokai Xinkang Fund in 2018. 

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.