China Digest: YanRong Tech, Sinovation in funding news

YanRong Tech has closed a 120 million yuan ($19 million) funding in its Series A+ round led by Oceanpine Capital. In a separate development, NYSCPS has raised $10 million in its Series A+ round from Sinovation Ventures and others.

YanRong Tech nets $19m in Series A+

China’s next-generation cloud storage solutions developer YanRong Tech has closed a 120 million yuan ($19 million) funding in its Series A+ round led by Oceanpine Capital, per a company statement on Wednesday.

The Series A+ round saw the participation from Shenzhen-based Cowin Capital and UCAP – Oceanwide Fund, a joint fund co-launched in 2020 by UCAP Cloud Information Technology and China Oceanwide. 

Existing investor Glory Ventures, a deep-tech VC firm, also joined the current round.

Technology-focused Winsoul Capital facilitated the transaction.

Yan Rong plans to use the corpus to develop its technology, products, service supports, markets and partnerships.

Yan Rong started its operation in 2016 in Beijing. Its flagship product YRCloudFile helps industries to better manage their databases. Its clients include state-owned China Mobile, Bank of China, TuSimple, and Rootcloud, among others.

Yan Rong’s early-stage backers also include Sunyard System Engineering’s investment arm Sunyard Investment and Score Capital. 

Sinovation leads $10m funding in NYSCPS

Sinovation Ventures led a $10 million Series A+ funding round in oral care brand NYSCPS, according to a company statement on Wednesday. 

TMT focused Crystal Stream Capital and returning investor Plum Capital, too, joined the round. Investment bank Mountain View Capital served as the financial advisor for the transaction.

The proceeds of the funding will be used to spruce up its oral care products. 

Managed by Shenzhen Xiaokuo Technology, the nearly 6-year-old NYSCPS produces high-end oral care products such as toothpaste, mouthwash and distribute by e-commerce channels like Alibaba’s Tmall and Pingduoduo. 

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.