Virtual synthetic character developer Next Generation has secured ‘millions of US dollars’ in its Series A round of financing led by China Creation Ventures, an early-stage investment firm that has backed industry players like JD.com, CreditEase, and Asia Innovations Group.
Return backer Shunwei Capital also joined the round. Shunwei had exclusively made a similar-sized investment for Next Generation’s pre-A round in October 2020, the investor said in a WeChat post on Monday.
The startup plans to allocate the proceeds to spruce up programmes linking to virtual human products and their commercialisation.
The Beijing-headquartered Next Generation uses virtual synthetic characters to create immersive and entertaining content including animation, music, and web series.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on July 23-26, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|Nanjing SemiDrive Technology||Nanjing||154 million||B||China Development Equipment Manufacturing Industry Fund, V Fund||BOC International, Shanghai Technology Innovation Investment Fund, Zhangjiang Haoyan Investment, Matrix Partners China, CT Capital, Vertex Ventures China, Chendao Capital||AI and Machine Learning|
|CalmCar||Suzhou||150 million||C||ZF Friedrichshafen AG||Longshi Capital, Oci International Holdings, CRI, Zhongke Xianjin Fund, VinFast, Great Filter Venture, China Unicom Capital, CICC-Unicom Capital||Autonomous Driving|
|TransThera||Nanjing||100 million||D||CPE, China Structural Reform Fund||Sixty Degree Capital, China Merchants Capital, GP Healthcare Fund, CoStone Capital, Jiangsu Ruihua Investment Holdings||N/A|
|Zhiyi Tech||Hangzhou||30 million||B||GL Ventures, Zoo Capital||Yonghua Capital, Legend Capital||Saas|
|ZSHK Lab||Hong Kong||15 million||A||Qiming Venture Partners||Ascendum Capital||HealthTech|
|Tarapeutics||Bangbu||15 million||A||-||Anhui Technology Fund, Banghu Small and Medium Fund, CAS-Guoyuan Fund, Zhongan Tourism Healthcare Fund, Anyuan Innovation Fund, Anhua Innovation Fund, Kerui Hongtai Fund, Sunland Fund||N/A|
|Xuanbo Beer||Wenzhou||7.7 million||Pre-A||Plum Ventures||Vangoo Capital, YZ Capital, Guanghe Venture Capital, Kaiying Capital, Shenzhen Tansu||N/A|
|Linptech||Wuhan||7.7 million||B||Wuhan Guanggu Fenghuo Ventures||Fortune Techgroup||CleanTech|
|ZONE Technology||Shanghai||4.6 million||Pre-A||Redpoint China Ventures||Plum Ventures||Saas|
|Shenxin Biotech||Shenzhen||* 15 million||A||CPE||Legend Capital, Dynamic Capital, Chongqing Zhifei Biological Products, CasStar, Qianhai FOF||Biotech|
|Zhejiang JYSS Bio-Engineering||Hangzhou||* 15 million||A, B||A: Matrix Partners China; B: CMB International||A: Sinosidom, Grandway Capital; B: Sherpa Healthcare Partners, CITIC Medical Fund, C&D Investment||N/A|
|Cispoly||Yiwu||* 1.5 million||Pre-A2||-||Shenzhen Capital||HealthTech|
|Tiger Security||Hangzhou||* 1.5 million||Pre-A||-||Kaitai Capital, IN Capital||Saas|
|Seaway||Beijing||* 1.5 million||A||-||China Merchants Capital, Meridian Capital||Internet of Things|
|Next Generation||Beijing||* 1 million||A||China Creation Ventures (CCV)||Shunwei Capital||AR & VR|
|Weijie Group||Hangzhou||-||A||-||Xingwang Investment||N/A|
|InferVision||Beijing||-||D2||-||AsiaTech Ventures, Z-Park Fund, Goldman Asset Management, CCB Trust, TopoScend Capital, Xiangli Capital, Zhongguancun Kexuecheng, Shenzhen Yicun Tongsheng Investment, Shanghai Lianyi Investment||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 “6.5 million yuan ($1 million)” in the given example.