China Digest: Tencent backs Germany’s Clark; NuProbe raises $42m

Clark

Chinese tech giant Tencent has backed Frankfurt-headquartered digital insurance broker Clark in its €$69 million ($85 million) round. Meanwhile, NuProbe, a global precision molecular diagnostics company, has raised over $42 million in its Series A round co-led by BioTrack Capital and Yonghua Capital.

Tencent leads $85m round in Germany’s Clark

Chinese tech giant Tencent has backed Frankfurt-headquartered digital insurance broker Clark in its €$69 million ($85 million) round, per a report by FinSMEs.

This marks the Series C round for the company.

The round was also joined by Clark’s existing investors namely Portag3 Ventures, White Star Capital, and Yabeo Capital. The three investors together participated in Clark’s $29 million Series B round funding in 2018.

With its Series C round, Clark plans to work on its products and user acquisition.

Founded in 2015, Clark is an insurtech startup that connects over 160 insurance firms that offer services such as health, life, travel, property, among others.

Apart from Germany, Clark also has a presence in Austria. It claims to have built a portfolio of 300,000 customers.

NuProbe nets $42m in Series A

NuProbe, a global precision molecular diagnostics company, has raised over $42 million in its Series A round co-led by healthcare-focused venture capital firm BioTrack Capital and Yonghua Capital, the PE arm of finance firm Yongjin Group, per an announcement.

The round also saw the participation of new investors namely Taifu Capital, Panlin Capital, Juming Capital and Tuobang Capital, with the participation of existing investors including Sequoia Capital China, Ruomu Capital and Serica Partners. BMD China facilitated the transaction.

NuProbe plans to use the funding to ramp up headcount, work on product development and facilitate drug listing application in China.

NuProbe, set up in 2016, is a private-held company with offices in the US besides Shanghai and Suzhou.

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.