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.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|Li & Fung||Hong Kong||100 million||Strategic Investment||-||JD.COM||N/A|
|Jiemina-Cailian Press||Shangahi||72 million||C||-||Xu Hui Gao Tou, China Internet Investment Fund (CIIF)||Digital Media|
|Lezhipeiyou||Kunming||* 1.4 million||Debut||-||-||EdTech|
|Orca-Tech||Xi'an||1.4 million||A||TuringVentures||Institute for Interdisciplinary (Xi'an), Shenzhen Xiaoxi Holdings, Brizan Ventures, Plug and Play China X Technology Fund||Robotics & Drones|
|hrcloud.com / Shanghai Renyun Information Technology||Shangahi||-||Strategic Investment||-||Yongyou||HR tech|
|Aulton New Energy Autmotive Technology||Shangahi||-||Strategic Investment||-||SB Energy||Electric/Hybrid Vechicles|
|Zhongneng United||Shangahi||-||C1||-||SPIC Industrial Fund Management||N/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.