Chinese Companies Receiving US VC Money - 2017

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Chinese Companies Receiving US VC Money - 2017

After extensive research of industrial databases, we were able to find 7 Chinese Series A companies that were funded by global venture capitalist firms (VC) in 2017 whose funding was expressed in U.S. Dollars. We were unable to find any that were specific to the U.S. alone. The companies are listed as follows: YH Global, DT Dream, Cambricon Technologies, HaploX Biotechnology, Pimax VR, CGeneTech, Champzee, and Chompcloud. The companies are further detailed in the attached spreadsheet.

Methodology

After extensive research into industrial databases we were not able to find top Chinese Series A companies that were explicitly funded by U.S. venture capitalist (VC) firms in 2017, but after extending the search to those funded globally, we were able to come up with a list of 7 companies. We made the determination of top companies based on those receiving the highest amount of U.S. dollars from global VC firms.

It should be noted that the 15 most well-funded Chinese startups as of 2017 do not have any global Series A funding rounds. Through intensive research, more than 7 companies were found that received global funding from VCs, but the currencies were not in U.S. dollars. Any further general and specific searches did not yield more than the 7 listed below. Some companies only had sparse descriptions publicly available because other resources required subscriptions.

Findings

We were able to find 7 Series A Chinese Companies that received VC funding from firms around the world in 2017. Here is a brief review of each company. They appear in order based on the amount of funding that they received in U.S. dollars.

YH Global received $182 million on September 22, 2017. The leading investors were Yonghua Capital and Co-Energy Finance. YH Global is a logistics and supply chain management company founded in 1997 in Shenzhen. They supply services to firms like Huawei, Samsung, Alibaba, and JD.com.

DT Dream is a new internet service company specializing in big data analysis and cloud computing. It was founded in 2015 and is based out of Hangzhou. As of June 8, 2017, it was valued at $1 billion. Some investors are China Everbright, Alibaba Group, and Yinxinggu Capital. They raised $110 million in VC funding.

Cambricon Technologies received $100 million on August 18, 2017. Investors included Yonghua Capital, Oriza Seed Capital, Alibaba Group and more. This AI chip startup was founded by 2 brothers “who are researchers at the Chinese Academy of Sciences.” It released the first Chinese AI chip, the 1A, last year advising that it was for the “world’s first commercialized neural processor chip.” The chip is designed for UAVs, smartphones, security intelligence, autonomous driving devices, and wearables.
HaploX Biotechnology raised $32 million in global VC funding on December 29, 2017. The investors were Youchoose Capital, Kexin Capital, and SBCVC.
Pimax VR received $15 million in VC funding from Tianma Bearing Group and Shenzhen O-film Technology on December 20, 2017. The money will be utilized to research and develop new VR headsets like the so-called 8K HMD that’s goal is to end the feeling of motion sickness.

CGeneTech, a Chinese biopharmaceutical company, based in Suzhou, Jiangsu, Chiina, received $15 million in VC funding. Investors included Nanjing Tongren Boda Investment Management Co., Ltd. and Suzhou Yipu Equity Investment Fund Management Co, Ltd. This company is focused on the “discovery, development, and commercialization of novel small molecule drugs.”

Champzee received $10 million in Series A funding on December 20, 2017, from SIG. Their platform provides a subscription-based personal delivery and shopping service for men that is based on data and stylists’ advice.
Chompcloud raised $10 million in Series A funding on December 22, 2017. This company is a retail space and service platform that targets the catering industry.

Conclusion

Following intensive internet research, we found 7 Series A Chinese companies that were funded by global VCs in 2017 with their funding expressed in U.S. dollars. In the order beginning with those that received the highest funding, they are as follows: YH Global, DT Dream, Cambricon Technologies, HaploX Biotechnology, Pimax VR, CGeneTech, Champzee, and Chompcloud. The companies are detailed in the attached spreadsheet.

Sources
Sources