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.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|eSign||Hangzhou||186 million||E||Sequoia 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 Investment||Cloud Computing|
|Tracfic Control Technology||Beijing||118 million||Private Placement||CMG-SDIC Capital||-||Ridesharing /Transport|
|Hangzhou Terminus Network Technology||Hangzhou||93 million||B||Warburg Pincus||Sequoia Capital China, Alibaba Cloud||Saas|
|MingMed Biotechnology||Guangzhou||50 million||A+||-||Jifeng Ventures, Yifeng Capital, Oceanpine Capital, YSG, Gaorong Capital, JCP Capital, Flower City Ventures||HealthTech|
|RCD||Shenzhen||15 million||B+||Hongtai Aplus||Ruizhi New Infrastructure, Yuchen New Infrastructure||Electric/Hybrid Vechicles|
|Dynarose||Beijing||15 million||A||-||Ambrum Capital, Oriental Fortune Capital||Infrastructure|
|LUX NOW||Shanghai||15 million||A+||Full Hope Capital||GSR Ventures||E-commerce|
|QMAI||Hefei||* 1.5 million||B+||Shunwei Capital||-||Saas|
|Huixin Lifetech||Shenzhen||1.5 million||Angel||-||Cowin Ventures||HealthTech|
|Maidi Micro-electronics||Hangzhou||1.5 million||Angel||Turing Ventures, Ce Yuan Ventures||-||Internet of Things|
|KATVR||Hangzhou||1.5 million||A+||-||Share Capital||AR & VR|
|Shanghai Bingpian Technology||Shanghai||-||Angel||-||Genesis Capital's angel fund||HealthTech|
∗ 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.