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.

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