WeNext bags over $15m and 30 more deal updates from Greater China

WeNext Technology Co., Ltd, a manufacturing industry-focused supply chain service platform, has secured over 100 million yuan ($15 million) in its Series A round jointly led by Chinese automobile manufacturer NIO’s PE arm NIO Capital and return backer CAS Investment Management, per a company statement on Monday. 

CAS Investment Management, Avic United Innovation Technology and Ningbo Daxie Pengchuang Investment had made an undisclosed investment in WeNext in December 2020. 

Index Capital served as the exclusive financial advisor for the latest deal. 

WeNext’s offerings cover 3D printing, CNC machining, injection molding and vacuum casting. 

WeNext Technology claims to have served over 150,000 enterprises, delivering about 20 million components annually. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on January 20-25, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
4ParadigmBeijing700 millionDBoyu Capital, Primavera Capital, Hopu InvestmentsNational Manufacturing Transformation and Upgrading Fund, China Development Bank, China Reform Holdings Corporation, China Jianyin Investment Limited, CSC Financial, Haitong Securities, Sequoia Capital China, CPE, Goldman Sachs, Jinyi Capital, FountainVest PartnersAI and Machine Learning
UISEE TechnologyBeijing154 million--National Manufacturing Transformation and Upgrading FundN/A
Erwan TechnologyBeijing100 millionD, EPAC, Xingzhi CapitalQiming Venture Partners, Lingfeng CapitalEdTech
Edge Medical RoboticsShenzhen93 millionBLYFE Capital, Kangji Medical,3H Health Investment, Panorama CapitalVertex Ventures China, BioTrack Capital, Alwin Capital, Poly CapitalRobotics & Drones
VSPNXi An60 millionB+Prospect Avenue Capital(PAC)Guotai Junan International, Nan Fung GroupeSports
Blue Park Smart EnergyBeijing46 millionA+BAIC BJEV, SKFS, CATL, Langfang Chasin Investment Fund-Electric/Hybrid Vechicles
Make EssenseShenzhen23 millionB-Redpoint Ventures ChinaBeauty & Hygiene
MatridxHangzhou30 millionBCD CapitalQianhai FOF, Proxima Ventures, Puhua CapitalHealthTech
Cothera BioscienceHangzhou30 millionBQing Song FundHarbinger Venture, CMB International,Sherpa Healthcare Partners, New World China, Lang Sheng Investment Group, Legend Capital, Legend Star, N/A
weiche.comHangzhou19 millionA+Xian Wen FundHaiteng CapitalE-commerce
X-EPICNanjing* 15 millionA+Sequoia Broadband Industry FundChengwei Capital, Xihao Capital, GL Ventures, Gaorong Capital, 5Y Capital, Dashu Changqing Investment, Shanghai Yuhan InvestmentInfrastructure
Xiaobang GuihuaBeijing* 15 millionB+Lingfeng Capital, Yuri Milner (Individual Investor) Tencent, Sequoia Capital China, Bluerun VenturesInsuretech
RivamedYuyao* 15 millionBSDIC Venture CapitalCCV, Delta Capital, In CapitalHealthTech
Fen-zBeijing15 millionBTencent Bilibili Digital Media
Westlake TherapeuticsHangzhou15 millionPre-ACD CapitalSequoia Capital ChinaN/A
Shanghai Shenzhen TechnologyShanghai15 millionBGGV Capital-HealthTech
Zhoupu DataNanjing15 millionBYF CapitalFrees Fund, Ivy CapitalBig Data
AikangteShanghai15 millionPre-B3H Health Investment, Highlight CapitalSequoia Capital China, Sherpa Healthcare Partners, Fosun Capital, Green Pine Capital Partners, YuanBio Venture CapitalHealthTech
WeNext Technology Shenzhen15 millionANIO Capital, CAS Investment ManagementAvic United Innovation Technology, Ningbo Daxie Pengchuang Investment E-commerce
StartdtHangzhou12 millionB2ByteDanceIDG CapitalCloud Computing
Feng Tai TechnologyBeijing11 millionA-QI-ANXIN Technology Group, IDG Capital, Oriza PriorInternet of Things
SimpcareGuangzhou* 10 millionBCoatue CapitalHony CapitalBeauty & Hygiene
RaypaitechShanghai* 1.5 millionAV FundCo-win Ventures, Sichuan Tianyi Comheart TelecomAR & VR
CurveRobotBeijing* 1.5 millionA+-Origin CapitalRobotics & Drones
tea'stoneShenzhen* 1.5 millionAngel-Cowin CapitalN/A
MediaTrackBeijing* 1 millionPre-AGGV CapitalGlobal Founders CapitalCloud Computing
Huohua SiweiBeijing-E3Trustbridge PartnersTencent, Hike CapitalEdTech
ReclassifiedShanghai---CITIC CapitalBeauty & Hygiene
Synlight CrystalBaoding-CCPE-AI and Machine Learning
Keihin OptechSuzhou-Pre-IPOTriniti Capital-N/A
Ark BiosciencesShanghai-CGL Ventures, TPG, Yanchuang Capital,Decheng CapitalQianhai Wanrong Hongtu Investment, Kaitou Hanrun Capital, Boquan Equity Investment Management, Renai Capital, Winfast Holding, DT Capital, DYEE Capital, Oriza Holdings, Tao Capital, CITIC Securites, FTZ Fund, Spinnotec, Oriental Fortune Capital, Visumpharma, Qiming Venture Partners, Yingke PEN/A

∗ 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 million yuan (about $1 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.