China Deal Monitor: VC-backed Motovis snags $14m and more updates

Chinese autonomous driving technology firm Motovis has raised 100 million yuan ($14 million) from new investors CGP Investment and Boxin Capital, according to an announcement.

This marks the Series A2 round of financing for the company.

Its returning investor Orca Capital also participated in the current round of funding. Orca Capital earlier invested ‘millions of US dollars’ in Motovis’s Series A+ round in 2018.

Shanghai-based cross-border investment bank CVCapital served as a financial advisor of the deal.

Driven by novel technologies such as deep learning, visual simultaneous localization (VSLAM), and multi-sensor fusion, Motovis specializes in providing autonomous driving solutions. Its automatic driving systems enables precision real-time perception, blind spot monitoring, navigation, autonomous parking and emergency braking, among others.

Headquartered in Shanghai, Motovis has also had a business and customer service centre in Shenzhen, and an AI research institute in Australia.

Motovis will deploy the proceeds to spruce up its technologies and products, consolidate its partnerships, and facilitate mass productions.

Earlier in 2017, Motovis had raised $10 million in its Series A round from KeyTone Ventures and Lanting Capital.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from May 11-13, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Lehe FoodGuangzhou56 millionCDragonBall Capital, CDH InvestmentsGuangzhou Hezhi Investment ManagementE-commerce
Panghu LuxuryBeijing25 millionBFortune Capital, INCE CapitalBefor CapitalE-commerce
Bell Education Group Shenzhen17 million--Yuexiu Industrial Fund, Yuanzheng InvestmentEd Tech
Qitan TechnologyChengdu/Beijing14 million-Gaorong CapitalYinxinggu Capital, Alwin CapitalNanotechnology
ZihaiguoChongqing14 millionBMatrixPartners China-Food Tech
MotovisShanghai14 millionA2-CGP Investment, Orca Capital, Boxin CapitalAutonomous Cars
Nanjing Wedeng MedicalNanjing14 millionBSinovation Ventures-Medical Devices & Equipment
Common Rail System’s FamilyShanghai14 millionBWanrong CapitalPanlin Capital, Cybernaut InvestmentIndustrials
SyriusShanghai10 millionA+Sequoia Capital ChinaZhencheng Capital, Tryin Capital, Pksha Sparx Algorithm Fund, Future Capital, ZhenFundRobotics & Drones
WakeDtateZhuhai10 millionBSequoia Capital China, Redpoint China VenturesIDG CapitalBig Data
Elite PharmaShanghai1.4 millionA-Kaitai Capital, Zhongnan VenturesPharmaceuticals
DOCOShanghai1.4 millionStrategic InvestmentNovena Global Lifecare-Beauty
Hong Jing DrivingHangzhou1.4 millionPre-ABluerun VenturesTranslink Capital, Linear CapitalAutonomous Cars
InssentBeijing* 1 millionPre-AShunwei CapitalSource Code CapitalFinancial Service

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 “ $1 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.