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In last week’s China VC news: Shenezhen-based robotic automation startup Youibot raises 100 million yuan, crypto services provided Babel Finance bags a $40 million Series A and insurtech firm Yuanbao capitalizes on competitor Waterdrop’s IPO by raising a 1 billion yuan Series C round.

Over the past week, the esports industry in China has celebrated the International Labor Holiday by hosting multiple esports competitions for audiences and fans. Shanghai-based tournament organizer Imba TV hosted its $185 thousand Dota 2 i-League at the Shanghai Aegean Shopping Park in front of a limited live audience, while Tencent and VSPN also hosted a two-year anniversary party for Peacekeeper Elite in Chongqing, at which multiple partnerships were signed.