China Digest: Yidaichu bags $32m Series B; Vertex Venture backs AncSonic

A worker loads copper cathodes into a warehouse. REUTERS/Carlos Barria/File Photo

Online warehouse operator Yidaichu has secured $32 million in a Series B round while Vertex Ventures has participated in a Series A round in AncSonic.

Online warehouse operator Yidaichu bags $32 million Series B

Beijing-based online warehouse operator Yidaichu has raised a $32-million Series B led by GLP as a strategic investor, Yicai Global reported. Guangdong Deppon Logistics Co also participated in the round.

The company will use the proceeds for team building and development of its online platform. Yidaichu’s online platform is integrated with warehouses for small and mid-sized e-commerce companies.

The platform is equipped with both standardized operation services and software-as-a-service system to improve efficiency for users getting the best fit for storage facilities.

Started in 2015, Yidaichu raised a Series A round of RMB25 million ($3.9 million) in 2016 from Shenzhen Capital Group, founded by the Shenzhen Municipal Government, Dark Horse Ventures, and BoRongYongBai.

Vertex Ventures takes part in Series A of Chinese noise control platform AncSonic

Vertex Ventures joined noise reduction platform AncSonic‘s Series A round worth tens of millions of RMB, the China Money Network Reported.

Northern Light Venture Capital, a Chinese venture capital firm focused on tech and consumer service companies, also participated in the round.

AncSonic aims to control noise as an indirect result of the economic development of China. Using active noise reduction and acoustical holography platform, its solutions are targeted at businesses, individuals and universities.

Also Read:

China: GLP leads $36m Series B investment in Songxiaocai

Singapore: Vertex Ventures co-leads $11.5m Series A in Astound

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.