China Digest: Tencent co-leads funding in Yunyou; YF Capital backs Accutar Biotech

Chinese startups Yunyou Freight and Accutar Biotechnology have secured fresh funding.  

Tencent co-leads funding in Yunyou Freight

Beijing-headquartered smart logistics services provider Yunyou Freight on Thursday announced that it has received “tens of millions of US dollars” in its Series B round of financing. 

The fresh round was jointly led by return investors Tencent and Eastern Bell Capital, per a company statement. BlueRun Ventures also re-upped in the latest transaction, the investor said in a WeChat post. 

Yunyou will use the proceeds for business development and market expansion. 

Led by Peking University alumni Jilong Zhou, Yunyou is a B2B platform that promotes digital logistics operation and management. It claims to have served nearly 1,000 companies. 

YF Capital backs Accutar Biotech

Accutar Biotechnology Inc, a startup that aims to accelerate drug discovery, has raised “tens of millions of US dollars” in a new funding round. 

Alibaba Jack MA’s YF Capital, 3W Healthcare Fund and Coatue joined the round, according to a company statement. 

Accutar has a pipeline of over 10 drug candidates targeted at breast and prostatic cancers. The candidates are expected to enter clinical trials in the US in the second half of 2021.

IDG Capital is the largest investor in Accutar, the firm said. Before the latest round, IDG along with CDH Investments, Primavera Capital and YITU Tech had invested a similar sum in Accutar’s Series B round. Prior to that, IDG and YITU had put in $15 million in its Series A round.  

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.