China Deal Monitor: Minima raises funding from Sumitomo Group and more updates

GLP-backed food cold-chain logistics platform Minima Technology on Thursday announced that it has secured an undisclosed amount in a Series A+ round from Japanese conglomerate Sumitomo Corporation’s investment arm Sumitomo Corporation Equity Asia Limited.  

Shanghai Yuanfu Investment Management facilitated the transaction, the company said in a WeChat post. 

Set up in 2015, Minima provides one-stop food distribution services for companies such as wholesalers and resellers. It streamlines efficiency while delivering food products primarily catering to segments such as restaurants, supermarkets, and communities. 

Headquartered in Beijing, Minima has its R&D centre in Wuhan.

Minima is backed by a slew of investors including SH-listed Nanjing Inform Storage Equipment (Group), Innoangel Fund, and ZRC, among others. Back in 2016, GLP invested in the company in its angel round. 

Sumitomo Corporation Equity Asia Limited, that focuses on investments in China and Southeast Asia, invests in sectors such as enterprise IT, big data, cybersecurity, AI, IoT, digital marketing, fintech and digital healthcare.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on April 30, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Marknum TechnologyBeijing14 millionBAurora Private Equity, GSR VenturesQingdao Wei’er Asset Management, Zhuhai Wei’er CapitalAI/Robotics
HGZ MedicalBeijing14 millionBSDICLenovo CapitalHealth Tech
Shanghai ZJW MicroelectronicsShanghai14 millionACTC CapitalZhangjiang Group, Zhangjiang Hi-Tech Park, Ningbo Qinliu InvestmentsHardware
NaixuejiaoyuBeijing* 1.4 millionAngel58 Venture Capital, Chuxin Capital-Ed Tech
Minima TechnologyBeijing-A+Sumitomo Corporation Equity Asia Limited
-Logistics

∗ 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 ($1.4 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.