China Deal Monitor: Source Code, Sequoia invest in Mech-Mind Robotics and more updates

Industrial robot developer Mech-Mind Robotics has garnered nearly 100 million yuan ($15 million) in a Series B+ round funding from Source Code Capital and returning backer Sequoia Capital China, the former investor announced on Monday. 

Sequoia Capital China had led a 100 million yuan ($15 million) Series B round in Mech-Mind Robotics in March 2020. 

With over 250 professionals in China and Munich, the four-year-old startup is set to develop industrial robots that primarily cater to logistics and manufacturing industries.

Driven by new generation technologies such as deep learning, 3D vision, and motion planning, it has delivered advanced solutions including machine tending for a large automobile part plant, wheel assembly for a large original equipment manufacturer (OEM), and gluing for a large furniture factory. 

Mech-Mind Robotics is also backed by Intel Capital, Qiming Venture Partners, Delian Capital, Galileo Venture, and PreAngel. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on November 13-17, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
XAGGuangzhou182 million-Baidu Capital, SoftBank Vision Fund 2Sinovation Ventures, Guangzhou Yuexiu Industrial Fund Management, Guangzhou Emerging Industry Development FundRobotics & Drones
Hefu-NoodleRugao68 millionDTencent, Longfor CapitalMeridian CapitalN/A
ZillizShanghai43 millionBGL VenturesTrustBridge Capital, Pavilion Capital, 5Y Capital, Yunqi CapitalAI and Machine Learning
Gene+Beijing38 millionB+Aier Eye HospitalWisdomont, Sharewin Capital, Highlight CapitalBiotech
Beijing Memblaze TechnologyBeijing30 millionDSoftBank Ventures AsiaToyou Feiji ElectronicsBig Data
PregeneShenzhen21 millionBHaier BiomedicalHuapont Life Sciences, Hunana Jiankang Yanglao InvestmentHealthTech
Huiyi HuiyingBeijing* 15 millionC2-Shougang Fund, Sinopharm Junbo, Kunjian Xintai, CDH Investments, Delta Capital, Bluerun VenturesHealthTech
Jiangsu B.H.Med TechnologyWuxi* 15 millionBTF Capital, GL Ventures, Legend CapitalTaiyu Capital, Proxima VenturesHealthTech
Particle FeverShanghai15 millionC-GL VenturesFitness & Wellness
ArrayCommXiamen15 millionAVertex Ventures China-Infrastructure
Mech-Mind RoboticsBeijing/Shanghai15 millionB+-Source Code Capital, Sequoia Capital China, Cash CapitalRobotics & Drones
VeSoftHangzhou10 millionPre-A+Source Code CapitalSinovation Ventures, Guangzhou Yuexiu Industrial Fund Management, Guangzhou Emerging Industry Development FundBig Data
Dexin Optoelectronic ServerXiamen-Strategic Investment-Xingwang InvestmentN/A
GalaxySpaceBeijing--Nantong Smart Manufacturing Investment FundChaos Investment, MatrixPartners China, CICC Infrastructure Fund, Shunwei Capital, 5Y Capital, Legend Capital, Source Code CapitalInfrastructure
Zhongsheng Kangyuan Beijing-AHemeng Caital's sub-fundHongke Fund, Sichuan Leimerious Capital, Gongqingcheng Pengbo InvestmentHealthTech

∗ 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 “100 million yuan ($15 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.