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.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|Agile Robotics||Beijing/Munich||220 million||C||SoftBank Vision Fund 2||Chimera, GL Ventures, Sequoia Capital China, Linear Capital, Xiaomi Corporation, Foxconn Industrial Internet, Mande Investment||Robotics & Drones|
|River Security||Shanghai||46 million||C2||Eastern Bell Capital||C&D, 3E Capital, Legend Capital, Dening Capital||Big Data|
|HiAR||Shanghai||42 million||C+||CITIC Private Equity Funds Management(CPE)||Jadex Capital, Yuanhui Capital, Grand View Capital, THG Ventures, Puchao Capital, V Star Capital, Sincere Capital, Ondice Capital, MYEG||AR & VR|
|Accuredit Therapeutics||Suzhou||* 15 million||Seed||Legend Capital||-||Biotech|
|Bosie||Beijing||* 15 million||-||-||Bilibili, 5Y Capital, GSR Ventures||N/A|
|Xiner Semiconductor Technology||Shenzhen||15 million||C||Oriza Prior||Flyfot Ventures, FG Venture, HTI||N/A|
|Cosmo||Beijing||15 million||Ａ||-||Cowin Capital, Yongsheng Venture Capital||Internet of Things|
|Stepone||Beijing||15 million||B||SIG Asia||Ultrapower, Lightspeed China Partners, Xinyi Capital, Hailong Xiang (Individual Investor)||Big Data|
|Mannkando||Nanjing||10 million||Pre-A||Bertelsmann Asia Investments (BAI)||Unity Ventures, Source Code Capital||E-commerce|
|EndoCell||Suzhou||10 million||Angel||-||Kaitai Capital||Biotech|
|Pinlo||Shenzhen||* 1.5 million||A+||Huaxin Group||-||N/A|
|KH Automotive Technologies||Huzhou||-||A1||-||Xiaomi Corporation||Electric/Hybrid Vechicles|
|Smartlink Micro||Beijing||-||-||Bridge Capital||Skyworth||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.