China VC Weekly: Data Intelligence, Food Tech and Smart Vehicles
In last week’s China VC news, food tech startup Moodles raised a pre-Series A round, data intelligence firms Guandata bagged $44 million in Series C round, and more!
Food Tech Startup Moodles Bags Pre-A Round of Financing
Chinese food tech company Moodles announced the completion of a Pre-A round of financing. The round was led by GGV Capital, with existing shareholders Fine Will Capital and Renshan Capital joining in.
This is the second round of financing completed by the company within the last six months. In October last year, Moodles secured nearly 10 million yuan ($1.58 million) in angel investment from Fine Will Capital and Renshan Capital.
About Moodles
Moodles was founded in July 2021 and provides staple foods whose appearance and taste are very similar to traditional fare, but features a much more diversified nutritional balance.
Guandata Snags $44M Led by Tiger Global
Chinese data intelligence firm Guandata has raised 280 million yuan ($44 million) in its Series C round led by Tiger Global. Existing investors Sequoia Capital China, Linear Capital, Unicorn Capital Partners and Xiang He Capital also participated in the latest round.
Earlier this year, the four backers alongside China Growth Capital had injected 100 million yuan ($15 million) into Guandata’s Series B+ round.
The company plans to use the funds to develop its data products, improve customer service support, and expand company operations.
About Guandata
Guandata was established in 2016 in Hangzhou. The company claims to have served more than 400 industry players across nearly 10 industries including retail, consumption, finance, high-tech, and the internet.
Multiway Robotics’ Series A2 Round of Financing Tops 100M Yuan
Multiway Robotics (Shenzhen) Company, an intelligent intralogistics solutions provider in China, announced that it has raised over 100 million yuan ($15.8 million) in an A2 round of financing. The lead investor was China Creation Ventures (CCV) and the exclusive financial adviser was Leap Capital. The funds are to be used for product research and development, team building, business development and other purposes.
Multiway Robotics has applied for over 250 patented technologies, and has implemented more than 300 projects. It provides solutions for more than 200 customers across over 20 industries.
About Multiway Robotics
Multiway Robotics was founded in 2019, and is headquartered in Shenzhen, China. The company has been focusing on advanced robots and AI, and provides customers with a complete intelligent logistics solutions.
Smart Vehicle Firm MINIEYE Completes Series D2 Round of Financing
Smart vehicle technology firm MINIEYE announced that it has completed a D2 round of financing worth several hundred million yuan. Investors included CDB Manufacturing Transformation Fund, Unicom CICC, Changde Emerging Industry Fund under CICC Capital, Chongqing Kexing Kechuang Equity Investment and OFC.
The funds raised in this round will be mainly used to consolidate the company’s leading position in the mass production of intelligent driving products and to accelerate its R&D of high-level autonomous driving.
SEE ALSO: Intelligent Driving Firm MINIEYE Completes D2-Round Financing
About MINIEYE
MINIEYE was established in 2014 and has to date developed its own L0-L2 advanced driver assistance system called “iSafety,” L2+ and L2++ intelligent pilot system “iPilot,” and intelligent console sensing and interaction unit “iCabin.”
Fashion Sports Brand Starter Secures $40 Million in Latest Financing
Starter, an international fashion sports brand, has received $40 million in C-round financing. The round was led by QY Capital, co-investors included existing shareholders Sequoia China, Dazzle Fashion and M31 Capital. Cygnus Equity acted as the exclusive financial consultant.
Since Starter entered China, it has obtained two rounds of financing worth 100 million yuan in 2019 and $30 million in 2020. The company has been backed by the likes of Sequoia China, M31 Capital, Dazzle Fashion and Sky9 Capital.
About Starter
Starter was founded in Connecticut, US, in 1971 and has focused on the energy and vigor of young athletes in addition to the hip-hop and street cultures. In 1999, Starter was sold by its founder and was later acquired by Nike along with its holding company in 2004. In 2007, Nike sold Starter to Iconix Brand Group, a brand management company. In 2017, Black Ant Group reached an agreement with the Chinese subsidiary of Iconix Brand Group, and obtained the exclusive authorization of Starter to operate in the Greater China region. But it was not until 2019 that Starter became popular in the Chinese market. In July 2020, Iconix Brand Group suddenly announced to sell its business in Chinese market under the brand Starter to an anonymous buyer.
