HiAR nets $42m and 12 more deal updates from Greater China

CITIC Private Equity Funds Management(CPE) has led a 270 million yuan ($42 million) Series C+ round funding in augmented reality (AR) technology firm HiAR, the investee announced on Thursday.

HiAR roped in a slew of new investors including Jadex Capital, Grand View Capital, and THG Ventures. Returning investors V Star Capital, Sincere Capital, Ondine Capital, Puchao Capital, and MYEG, among others, made follow-on investments in the funding round. 

The company had secured 250 million yuan ($39 million) in a Series C funding round in 2019 from Puchao Capital, Panxi Capital, and Yangtze River Delta Industry Fund, a 100 billion yuan ($15.6 billion) state-backed fund co-launched by Shanghai International Group in 2018.

Prior to that, it was backed by investors like GGV Capital, AI industry-focused Seekdource, and Chuchuang Investment.

Armed with the fresh proceeds, HiAR plans to shore up its AI and AR technology and flagship platform HiAR Space, besides investing in commercialisation.

HiAR, set up in 2012 in Shanghai, has been engaged in bridging virtuality and reality through novel human-machine interactions. Its all-in-one solutions are widely used across education, travel, aviation, public security, and healthcare. 

“As AR is one of the most important segments of AI-based consumption, so we are optimistic in investing in the sector in the long run,” said CPE managing director Yongnan Zhuang. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on September 09 – 10, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Agile RoboticsBeijing/Munich 220 millionCSoftBank Vision Fund 2Chimera, GL Ventures, Sequoia Capital China, Linear Capital, Xiaomi Corporation, Foxconn Industrial Internet, Mande InvestmentRobotics & Drones
River SecurityShanghai46 millionC2Eastern Bell CapitalC&D, 3E Capital, Legend Capital, Dening Capital Big Data
HiARShanghai42 millionC+CITIC Private Equity Funds Management(CPE)Jadex Capital, Yuanhui Capital, Grand View Capital, THG Ventures, Puchao Capital, V Star Capital, Sincere Capital, Ondice Capital, MYEGAR & VR
Accuredit TherapeuticsSuzhou* 15 millionSeedLegend Capital -Biotech
BosieBeijing* 15 million--Bilibili, 5Y Capital, GSR VenturesN/A
Xiner Semiconductor TechnologyShenzhen15 millionCOriza PriorFlyfot Ventures, FG Venture, HTIN/A
CosmoBeijing15 million-Cowin Capital, Yongsheng Venture Capital Internet of Things
SteponeBeijing15 millionBSIG AsiaUltrapower, Lightspeed China Partners, Xinyi Capital, Hailong Xiang (Individual Investor) Big Data
MannkandoNanjing10 millionPre-ABertelsmann Asia Investments (BAI)Unity Ventures, Source Code Capital E-commerce
EndoCellSuzhou10 millionAngel -Kaitai Capital Biotech
PinloShenzhen* 1.5 millionA+Huaxin Group-N/A
KH Automotive TechnologiesHuzhou-A1-Xiaomi Corporation Electric/Hybrid Vechicles
Smartlink MicroBeijing--Bridge CapitalSkyworth Infrastructure

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.5 million)” in the given example. 

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.