Shunwei backs QMAI and 12 more deal updates from Greater China

SaaS-based digital platform maker QMAI has secured a Series B+ round of funding, raising “tens of millions of US dollars” led by Xiaomi’s investment arm Shunwei Capital.

Beijing-based investment bank Fanzhuo Capital facilitated the transaction, according to a company statement on Monday. 

The latest round follows the completion of a 100 million yuan ($15 million) Series B round funding from CICC Capital a month ago. 

With the fresh round of financing, QMAI expects to fuel its market expansion, enhance talent management, technology innovation, and business development. 

Located in East China’s Anhui province, QMAI develops software-as-a-service (SaaS)-driven digital platforms for offline business operational management. Its multiple products and services include Wechat mini programmes, social customer relationship management, and data analytics, among others. 

The 12-year-old QMAI has served over 300 chains and provided digital services for over 20 million brick-and-mortar stores like fruit tea brand Yihetang and Taiwanese fastfood brand Yonghe. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on September 13, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
eSign Hangzhou186 millionESequoia Capital China, IDG Capital, Hidden Capital Sealand Innovation Capital, Guangxi Investment Group's asset management unit, Wens Capital, Wens Foodstuffs Group, Fortune Capital, Grand Flight InvestmentCloud Computing
Tracfic Control Technology Beijing118 millionPrivate Placement CMG-SDIC Capital-Ridesharing /Transport
Hangzhou Terminus Network Technology Hangzhou93 millionBWarburg PincusSequoia Capital China, Alibaba CloudSaas
MingMed Biotechnology Guangzhou50 millionA+-Jifeng Ventures, Yifeng Capital, Oceanpine Capital, YSG, Gaorong Capital, JCP Capital, Flower City Ventures HealthTech
RCDShenzhen15 millionB+Hongtai AplusRuizhi New Infrastructure, Yuchen New InfrastructureElectric/Hybrid Vechicles
Dynarose Beijing15 millionA-Ambrum Capital, Oriental Fortune Capital Infrastructure
LUX NOWShanghai15 millionA+Full Hope Capital GSR VenturesE-commerce
QMAIHefei* 1.5 millionB+Shunwei Capital -Saas
Huixin Lifetech Shenzhen1.5 millionAngel -Cowin Ventures HealthTech
Maidi Micro-electronicsHangzhou1.5 millionAngel Turing Ventures, Ce Yuan Ventures-Internet of Things
KATVRHangzhou1.5 millionA+-Share CapitalAR & VR
Shanghai Bingpian Technology Shanghai-Angel -Genesis Capital's angel fundHealthTech
YKCNanjing ---NIO Capital Saas

∗ 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 ($1.5 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.