China Deal Monitor: Orca-Tech nabs new funding and more updates

Orca-Tech, a provider of aquatic self-driving technology,  has garnered more than $1 million in a Series A round of funding led by Turing AI Institute of Nanjing’s investment arm TuringVentures.

The round also saw the participation of new investors Institute for Interdisciplinary Information Core Technology (Xi’an) and Shenzhen Xiaoxi Holdings. Its existing backers Brizan Ventures, Plug and Play China and X Technology Fund also joined the round, according to a company statement.

The corpus raised will be used by the company to advance its autonomous driving solutions and AI technology, develop aquatic cleaning robot, consolidate team management and commercialization.

Founded in 2017, Orca-Tech leverages self-driving technology to produce automatic surface cleaning robots. The startup claims to have served for over 30 clients across four countries such as The Netherlands and Spain.

Previously, in 2017, the startup raised its seed round from Xbot Park’s investment vehicle focused on robot and smart technology.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from August 1, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Li & FungHong Kong100 millionStrategic Investment-JD.COMN/A
Jiemina-Cailian PressShangahi72 millionC-Xu Hui Gao Tou, China Internet Investment Fund (CIIF)Digital Media
LezhipeiyouKunming* 1.4 millionDebut--EdTech
Orca-TechXi'an1.4 million ATuringVenturesInstitute for Interdisciplinary (Xi'an), Shenzhen Xiaoxi Holdings, Brizan Ventures, Plug and Play China X Technology Fund Robotics & Drones
hrcloud.com / Shanghai Renyun Information TechnologyShangahi-Strategic Investment-YongyouHR tech
Aulton New Energy Autmotive TechnologyShangahi-Strategic Investment-SB EnergyElectric/Hybrid Vechicles
Zhongneng United Shangahi-C1-SPIC Industrial Fund ManagementN/A

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.