China Deal Monitor: JD Health invests in Kingstar and more updates

Shanghai Kingstar Winning Software Science and Technology Co., Ltd, a subsidiary of digital medical firm Winning Health, has raised 150 million yuan ($22.2 million) in an equity financing round from JD Health, the online healthcare unit of e-commerce giant JD.com.

According to an announcement on Shenzhen Stock Exchange, JD Health will hold as much as 7.71 per cent stake in Kingstar. Apart from JD Health, Chinese global drug maker WuXi AppTec will also buy the same amount of stake in Kingstar.

The investment comes nearly a month after JD.com made headlines for reportedly looking to list JD Health.

Kingstar, established in 2012, offers intelligent medical software to the healthcare industry. Its services include medical insurance fund monitor, big data analysis, and online payment solution.

The company generated 17.25 million yuan ($2.6 million) in annual revenue as of December, 2019.

Kingstar will use the fresh funding for its healthcare products and applications, besides commercial insurance platform.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from October 12-13, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Zhaoke Ophthalmology Pharmaceutical (ZKO)Hong Kong145 millionBHillhouse Capital, TPG AsiaLoyal Valley Capital, OrbiMed Group, Aier Eye HospitalHealthTech
Huohua SiweiBeijing100 millionE2Tencent InvestmentThe Carlyle Group, YuanfudaoEdTech
EdiGeneBeijing67 millionB3H HealthSequoia Capital China, Kunlun Fund, Alwin CapitalBiotech
BamboocloudShenzhen44 millionC-Sequoia Capital China, Kunlun FundCloud Computing
Serve Accurate Faithful Evaluatin Beijing30 millionB-Legend CapitalHealthTech
NaxionsBeijing30 million-Sequoia Capital ChinaMatrixPartners China, Morningside Venture Capital, Vocanics Ventures, CCV, Frees Fund, Zhichun CapitalHealthTech
ImmuneOncoShanghai25 millionBLilly Asia VenturesLYFE Capital, Milestone Asset ManagementHealthTech
TeemsunBeijing22 million--Zgcco Innovatin Fund's Nanyangzi FundN/A
SequoiaDBGuangzhou* 14 millionDCICC CapitalOriza Prior, Yuexiu Industrial FundBig Data
CbeurekaShenzhen14 millionACR CapitalFuture Capital, Scheme CapitalN/A
Addnewer TechnologyBeijing14 millionBYongyou Industrial InvestmentMAD.WorksSales & Marketing Software
ShoplazzaShenzhen10 millionB-Sky9 Capital, Sequoia Capital China, Qianhai FOF, Pantheon AssetSaas
Wuxi Masun Environmental Energy TechnologyWuxi* 1.4 millionStrategic Investment-Addor CapitalCleanTech
MorooyShenzhen* 1.4 millionAChanyelian CapitalSequoia Capital China's seed fundSales & Marketing Software
Unionstrong TechnologyBeijing* 1.4 millionBSunland FundChiron Ventures, Qingji Venture PartnersHealthTech
Technology DeepvisionHangzhou7.4 millionPre-AVertex Ventures ChinaQualcomm VenturesAI and Machine Learning
Talon EsportsHong Kong2 millionSeed Hana VenturesWidus Strategic Investments, New Wave Esports Corporation, Sprout Investments, Gavekal Family, EMC Capital, Animoca Brands, HZL Capital, Felix LaHayeeSports
Sengoic Shanghai-AHongtai Aplus-N/A
MenxlabShenzhen-AChina Growth CapitalSIG, Gaorong CapitalFitness & Wellness

indicates that the company did not provide the specific size of the deal but only a range. So, we adopted the smallest number in the range, which is “10 million yuan ($1.4 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.