Greater China Digest: Vision Medicals, Cardinal and CakeResume raise funds

Vision Medicals has pocketed 200 million yuan ($29 million) in a Series B round of financing led by CDH Investments, while Temasek’s Vertex Ventures China has led a 100 million yuan ($14 million) Series A round in Cardinal Operations. CakeResume has raised $900,000 in a seed funding round from Japanese staffing and public relations firm Mynavi.

Vision Medicals nets $29m led by CDH Investments

Chinese pathogenic gene diagnostic services provider Vision Medicals said on Wednesday that it has pocketed 200 million yuan ($29 million) in a Series B round of financing led by the alternative asset management firm CDH Investments.

CICC Capital’s sub-fund CICC Qichen participated in the round along with returning investors Volcanics Venture and state-owned Cash Capital, Vision announced on WeChat. Volcanics and Cash Capital had pumped 100 million yuan ($14 million) in Vision’s Series A funding round in September 2019.

Chinese investment bank CEC Capital served as the exclusive financial advisor to the deal.

The latest proceeds will be utilised for product innovation, network upgrades, medical equipment commercialisation, manufacture base, and marketing expansion, Vision said. 

Since its inception in 2018, the company has been engaged in genetic technology and infection-focused precision medical therapies. Its services are used in medical fields like psychiatry and hematology. Headquartered in Guangzhou, Vision also has laboratories and research centres in Beijing, Shanghai, and Nanjing. 

In the statement, Vision said that it had teamed up with the Chinese Academy of Medical Sciences to release COVID-19 genome sequences and analysis at the start of the year.

Vertex leads $14m in Cardinal

AI-driven enterprise resource planning (ERP) startup Cardinal Operations Co., Ltd has garnered over 100 million yuan ($14 million) in its Series A funding round led by Vertex Ventures China. Cardinal will allocate the proceeds to spruce up big data solutions, and advance its business development, according to Vertex’s announcement on WeChat on Wednesday.

Vertex is owned by Singapore’s state-owned Temasek Holdings.

Co-founded by four Stanford University alumni in 2015, Shanghai-based Cardinal is a high-tech startup dedicated to offering a new generation of supply chain solutions for the apparel industry. Leveraging big data, cloud computing, and algorithms, the startup delivers one-stop services to small- and medium-sized retailers and suppliers.

It claims to have partnered over 3,000 brands including Alibaba, JD.COM, Amazon, and Gome.

Prior to the current round, Cardinal had closed two rounds of funding. In 2016 it raised $2.10 million from Northern Light Venture Capital, and ZhenFund. In 2018,  Lenovo Capital, Pagoda Investment, and Jiangmen Ventures invested 40 million yuan ($5.8 million) in the firm.

CakeResume raises $900k seed round

CakeResume, a Taipei-based startup that aims to build a tech talent pool in Asia, has raised $900,000 in a seed funding round from Japanese staffing and public relations firm Mynavi.

The startup, which was initially started in 2016 as a resume-building software, is developing a tech talent database to tackle the shortage of tech professionals in Taiwan and the rest of Asia – a new strategy could put the startup in competition with local websites like 104 Job Bank, as well as American employment-oriented online service LinkedIn.

The firm now has over 500,000 resumes in its database, 75 per cent of which were created by job seekers in Taiwan. Over 3,000 companies, such as Amazon Web Services, TSMC, Nvidia and Tesla, use the CakeResume platform for recruitment.

CakeResume will use the new proceeds to expand operations in other parts of Asia that demonstrate a growing demand for IT talents, including Japan, Singapore and India.

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.