Chinese EV company WM Motor completes a 10-billion-yuan pre-IPO round
Chinese electric vehicle maker WM Motor has completed a 10 billion yuan D round of financing. According to 36Kr, it was jointly led by Shanghai State-owned Investment Platform and SAIC Motor while Baidu and SIG China added on through minority injections.
Other state-owned industrial investors who participated in the round include Hubei Yangtze River Industry Fund, Suzhou Kunshan Industrial Fund, Hunan Hengyang State-owned Investment Platform, and SDIC Chuangyi Industry Fund.
On top of that, several investment institutions including SINO IC LEASING, Tsinghua Unigroup, Hongta Tobacco Group, Agile, and Yingke also took interest in the company.
The raised funds will be mainly used for smart technology research and development, brand building, digital marketing and channel expansion, according to the company.
The latest round of financing is also WM Motor’s pre-IPO round.
About WM Motor
Founded in 2015, WM Motor Technology Group (WM Motor), with its name taken from Weltmeister which is a German word meaning world champion, is a provider of emerging new energy vehicles and mobility solutions in China. WM Motor is committed to becoming a popularizer of intelligent electric vehicles and determined to grow into a service provider for the new ecology of intelligent mobility with the development of intelligent hardware efficiently driven by data
Home fitness company FITURE gets a $65 million injection
Chinese home fitness service FITURE announced the completion of an A round of financing equaling roughly $65 million. This round was led by Tencent, with C Capital, Cathay Capital, Black Ant Capital, CPE (CITIC Industry Fund), BAI (Bertelsmann Asia Investment Fund), and All-Star Fund also taking part and injecting funds in the company.
According to China Money Network, FITURE’s angel round investor Sequoia Capital China also continued to invest in the latest round. Previously, FITURE raised roughly $6 million from Sequoia Capital China in its angel round of financing in August 2019.
FITURE mainly provides fitness courses, and interactive fitness related enetertainment for users and their families. By gathering real training data, FITURE is able to provide users with tailor-made training plans, real-time progress tracking, and build a committed fitness community.
Currently, FITURE offers courses such as yoga, pilates, kickboxing, aerobics, barre, strength, stretching, etc. It also recruits national star coaches and has established a scientific curriculum system to provide users with professional fitness guidance.
FITURE positions itself as neither a hardware company nor a fitness platform, but a company that provides users with one-stop home fitness services and fitness-adjacent experiences.
Chip-maker ChipON completes 100-million-yuan series A
Shanghai-based ChipON Microelectronics Technology Co., Ltd. announced that it has raised 100 million yuan in its series A round of financing, led by Silicon Harbor Capital. SAIC Hengxu, SMIC, Beyond Moore, Fed Securities, Ju Cheng Investment co-invested.
ChipON CEO Ding Xiaobing noted that the latest round of financing will be allocated towards the development of a new generation of high-performance MCUs, market expansion in the field of automotive electronics, and sales network construction.
Founded in January 2012, ChipON is a supplier with the ability to independently develop MCU cores. Based on its independently devised IP KungFu core architecture, the company has developed highly reliable high-quality 8-bit MCU and 32-bit MCU & DSP.
Xingyun Group bags $200 million for industrial chain expansion
Chinese commodity integrated service platform Xingyun Group raised a whopping $200 million in a series C round of financing. The round of financing was jointly led by Taikang Life Insurance, Highlight Capital and Zhongyuan Capital.
Morningside Ventures, Yinshan Capital, C&D Xinxing Investment, Singnah Capital, Pansheng Assets, and existing shareholders Matrix Partners China and Shuyuan Capital also continued to invest in the company.
It is reported that the funds raised in the round will be mainly used for the comprehensive expansion of the industrial chain, the improvement of the firm’s supply chain capabilities, as well as talent recruitment.
Prior to this round, Xingyun Group had raised 300 million yuan in a series A round of financing led by GSR United Investment, as well as tens of millions of US dollars in a series B financing led by Matrix China. The company also scored a $100 million series B+ rounded by the National SME Development Fund.
About Xingyun Group
Xingyun Group provides one-stop, full-link global commodity integrated services, including brand services, Xingyun global exchange supply chain management, middle-station system services, and supply chain, trade financing services as well as cross-border logistics services. The company is currently positioned as a global commodity integrated service platform.
Panlin Capital raises a new 1-billion-yuan fund
Shanghai-based Private Equity firm Panlin Capital has successfully completed a new round of fundraising for its flagship = science and technology innovation fund, raising nearly 1 billion yuan.
The fund secured commitments from a number of government guidance funds, several listed companies, individual entrepreneurs and more. Most of Panlin Capital’s early limited partners increased their allocations into the new fund.
Panlin’s new fund will focus on the research and development of new drugs for major diseases and import substitution of high-end medical devices, as well as the digital and intelligent transformation of enterprise-level services and intelligent hardware on the consumer supply side.
Panlin Capital has successively invested in nearly 20 medical projects through its two professional medical funds. It is actively engaged in the research and development of new drugs for the treatment of tumors, cardiovascular diseases, and metabolic diseases.
About Panlin Capital
Panlin Capital was established in February 2010. In the past ten years, it has successfully initiated and managed ten funds, including two healthcare industry venture capital funds and two consumer TMT venture capital funds.