China Digest: Oray, Vika in funding news

Oray has raised $40 million in a new round of funding led by GL Ventures, while Vika has closed over $10 million in its pre-Series A and pre-Series A+ rounds of funding from GL Ventures, and 5Y Capital, among others.

Oray raises $40m led by GL Ventures

Asia-focused PE firm Hillhouse Capital’s venture unit GL Ventures has led a $40 million funding in Chinese software-as-a-service (SaaS) solutions provider Oray, per a company statement on Monday.

The round was joined by new investor Tencent and existing backer Gaocheng Capital. The latter had exclusively pumped in ‘tens of millions of US dollars’ in lieu of equity in Oray in July 2020.

Oray will use the funding to spruce up its technology, expand its presence in the overseas market and recruit talent.

Oray, which believes connectivity is everywhere, is a specialist in internet of things (IoT) – it claims to create multi-functional and smooth IT infrastructure for small to medium-sized companies.

GL Ventures, 5Y back Vika

Data-driven software startup Vika said on Monday that it has completed its pre-Series A and pre-Series A+ rounds of funding, raising over $10 million.

The pre-Series A round was led by tech innovation-focused investment firm Eminence Ventures with the participation of existing investor 5Y Capital. Its pre-Series A+ round was led by GL Ventures and joined by Eminence and 5Y Capital.

5Y Capital had earlier invested ‘millions of US dollars’ in Vika’s angel+ round in October 2020. Prior to that, in 2019, IDG Capital and mass consumption-focused Tiantu Capital had collectively seeded nearly 10 million yuan ($1.5 million) in Vika’s angel round.

Headquartered in Southeast China’s Shenzhen, Vika provides new generation data software to enterprises.

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.