China: Qiming leads $10m Series A in AI firm; Teddy Mobile closes Series B round

A security guard walks past robots at 2017 China International Robot Show in Shanghai, China July 5, 2017. REUTERS/Aly Song

Qiming Venture Partners has led Series A funding round in Chinese AI startup Kuaile Zhihui. Meanwhile, smartphone big data firm Teddy Mobile has closed its Series B round.

Chinese AI firm secures $10-million Series A

China’s educational robots developer Kuaile Zhihui has raised nearly $10 million in a Series A round led by Qiming Venture Partners.

Other investors in this round included GGV Capital and China Elite Capital, the China Money Network reported.

Lei Ming, former chief architect at Baidu Inc and founder of Kuwo, founded the robot developer two years ago that uses speech recognition, Big Data analysis and deep learning to develop educational robots to teach maths, Chinese and English to children.

Earlier this year, Qiming Venture Partners also joined a $100 million Series C round in Chinese ed-tech startup Xuebajun.

Teddy Mobile closes Series B round

Beijing-based smartphone data management firm Teddy Mobile has closed its Series B funding round led by Matrix Partners China and Fosun RZ Capital, reported China Money Network citing a company statement.

Although the sum raised in the latest round was not disclosed, the report said Teddy Mobile has now raised a total funding of over RMB200 million ($29 million), including a previous round from Shangshi Fund and 10Fund in December.

Teddy Mobile was set up in 2014 to develop and offer Big Data technology solutions for smartphone applications. The company plans to use the latest funding for research and development of new products and team expansion.

Also read:

China Merchants, EasyCapital co-lead $100m round in edtech startup Xuebajun

Chinese startup Ark closes series A+ round led by Bioventure Investment

China: UCAR secures $350m funding; Fosun’s VC arm is now Fosun RZ Capital

Matrix Partners China leads $8m financing in parenting startup Niangao-mama

Singapore Reporter/s

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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. 
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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.