China Digest: MatrixPartners China invests in Ambilight; Wangjiadu Foods nets $15m

Ambilight has raised a Series B round of funding exclusively from MatrixPartners China, while Wangjiadu Foods has secured $15 million in a Series A round of financing from Fosun Xingyuan Innovation Fund and Fanqie Capital.

MatrixPartners China invests in Ambilight’s Series B

Silicon Valley-based developer of electrochromic technology Ambilight has garnered a Series B round of funding raising “tens of millions of US dollars” exclusively from MatrixPartners China, the investor announced on Friday.

The new development comes over a year after it secured $20 million in a Series A round funding led by Maison Capital in February 2020. Maison Capital has interests in consumption, healthcare, and technology innovation. With the fresh proceeds, Ambilight will aim to launch a new pipeline and expand business operations. 

With four research centres across  Indiana in the US, and China’s Shenzhen, Suzhou and Nanjing, it has provided novel product lines covering automobile rearview mirror, sunroof, side window, facade, and ski goggles, among others. Its offerings are widely used in the areas of consumer electronics, auto and architecture. 

Ambilight’s early-stage investors include big data-focussed Seas Capital, Spright’s investment arm Spright Industrial Capital, Danen Capital, and Bofu Investment.

Wangjiadu Foods nets $15m in Series A 

Wangjiadu Foods, a manufacturer of processed food and spicy condiments, said on Friday that it has secured 100 million yuan ($15 million) in a Series A round of financing from existing investors Fosun Xingyuan Innovation Fund and Fanqie Capital. 

Located at Southwest China’s Sichuan province, Wangjiadu Foods manufactures and distributes prefabricated food products such as braised porks, sausages, and hot pot seasoning. Besides e-commerce channels through JD.com, Tmall, Pinduoduo, and TikTok, Wangjiadu Foods has foraged partnerships with thousands of shopping malls, supermarkets, and convenient stores. 

Wangjiadu Foods plans to accelerate market expansion in the country in 2021, it claims. 

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.