China Digest: Lele Ketang, Space Pioneer in funding news

Photographer: Xaume Olleros/Bloomberg

Lele Ketang has raised $40 million in a Series C round led by Owl Ventures, while Space Pioneer has garnered ‘tens of millions of US dollars’ in a Series A round led by returning backer ZJU Joint Innovation Investment.

Owl Ventures leads $40m in Lele Ketang

Beijing-headquartered K12 education platform Lele Ketang has raised $40 million in its Series C round, led by Owl Ventures, per an announcement.

The fresh round of funding will be used to spruce up content, product and talent.

Set up in 2014, Lele is an internet education platform that caters to students till the age group of 18 and develops interactive programmes for them. Besides, it also develops teaching products for schools and has partnerships with over 4,000 education institutions across 130 cities in China.

Lele Ketang’s existing backers include Morningside Venture Capital, Lightspeed China Partners, BlueRun Ventures, CDF.CN and Sina.

Space Pioneer raises $14m in Series A round 

Space Pioneer, a developer of spacetech solutions, has secured ‘tens of millions of US dollars’ in a Series A round led by returning backer ZJU Joint Innovation Investment, per an announcement.

The round also saw the participation of East China’s Jiaxing-based Zaihe Investment.

The total corpus raised by Space Pioneer in 2020 currently stands at over 200 million yuan ($29 million).

Earlier this year, ZJU Joint Innovation Investment led a $14 million pre-Series A investment round in Space Pioneer to facilitate its expansion plans.

The startup’s other backers include Innoangel Fund, Eagles Fund, Landstone Capital and Jiuyo Capital.

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.