China: Shunwei, Hualian invest in Shansong; CASH Capital backs SpeedyCloud

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Shansong Express raises a $50-million series C+ round led by Shunwei Capital and Hualian Group while CASH Capital leads a $14 million series B in SpeedyCloud.

Shunwei Capital, Hualian lead series C+ in Shansong Express

Beijing-based venture capital firm Shunwei Capital and Beijing Hualian Group have led a $50-million series C+ round in a Beijing-based inner-city logistics startup Shansong Express, reported the China Money Network.

Hearst Ventures and existing investor Prometheus Capital also joined this round. Prior to this, Shansong secured $50 million in series C round led by SIG Asia Investment and YI Capital in February this year.

Shansong was founded in 2014 and received an undisclosed investment in series A from CDH Investment in the same year. In 2015, JD Capital led a $50-million series B followed by a $10-million series B+ by Tiantu Capital.

It operates in 31 cities in China with over 28 million users and 184,000 couriers on its platform.

CASH Capital leads $14M series B in SpeedyCloud

SpeedyCloud, a Beijing-based cloud services provider, is raising a RMB100-million ($14 million) series B round led by CASH Capital (Beijing) Investment Management, according to China Money Network.

The company plans to spend the latest proceeds on R&D and internet infrastructure development.

SpeedyCloud was set up in 2012 by Yu Hao, a veteran and former team leader at ChinaCache. Then, Xiaoguang Capital led a series A round worth tens of millions of RMB in 2013.

The report cited that the company’s cloud services have covered around 90 per cent of total cities in China while it has also set up cloud service nodes in main cities overseas including New York, Los Angeles and Moscow.

It claims to have over 5,000 corporate customers.

This is the second cloud service-related investment made by CASH Capital this year after it led a $50-million series C round in a cloud service provider EasyStack in January.

Also read:

SIG Asia, YI Capital lead $50m round in China’s Shansong Express

China Digest: Hulian Group injects $70m in FXiaoKe; Babytree raises $450m

China: Neigou platform raises $14M series B; Shunwei Capital joins AI-Drive’s series A

China: Investment firm Cash Capital leads $50m Series C round in EasyStack

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.