China VC Weekly: Xpeng Beats All Odds with $500M Series C+
EV-maker Xpeng Motors raises $500 million proving investor confidence
One of China’s top EV-makers, Xpeng Motors, announced that it has completed a C+ round of financing raising nearly $500 million from prominent investors, including Aspex, Coatue, Hillhouse Capital and Sequoia China.
The successful completion of the C+ round likely indicates investors’ confidence in Xiaopeng Motors’ strategy, and long-term prospects as one of the leaders of China’s smart electric vehicle market.
SEE ALSO: Xpeng Motors Announces US$500mn Series C+ Financing
Xpeng raised its $400 million Series C round in November 2019 led by He Xiaopeng, the CEO of the company, and Xiaomi Group. Xpeng Motors successfully launched its second smart coupe, the Xpeng P7, in April 2020.
About Xpeng Motors
Founded in Guangzhou in 2014, Xpeng Motors is one of the leading smart EV manufacturers in China alongside the likes of NIO and WM Motor.
JD.com pours funds into IT equipment rental platform Little Bear Rental
Shenzhen-based IT equipment rental service Little Bear Rental raised an undisclosed amount of several hundred millions of yuan in its series D round of financing led by JD.com, with participation from Fortune Capital.
Within the past two years the company completed six rounds of financing, raising funds from investors including JD.com, Tencent, Fortune Capital, Great Wall Fund, as well as four government-backed funds.
Proceeds of the new round will be used to strengthen the technical and digital collaboration between Little Bear Rental and JD.com, increase the investment in development of its asset management SaaS software “Little Bear Butler”, and continue to improve the company’s rental service network and capabilities.
About Little Bear Rental
Little Bear Rental is an IT office equipment operator, providing IT office asset life-cycle management solutions to help enterprises achieve “asset-light transformation.”
Underwater robot maker Deepinfar raises 120 million yuan in Series B+ funding round
Tianjin-based underwater robot maker Deepinfar officially announced the completion of a 120 million yuan ($17.15 million) series B+ round of financing. Investors included SDIC Venture Capital, Vstar Capital, TEDA Venture Capital, Mingsheng Tonghai Investment and others.
Previously, the company raised a 110 million yuan series A+ round led by Seekdource Investment and a 250 million yuan (US$37.6 million) series B round led by Vstar Capital in July 2018.
Deepinfar plans to continue investing in the development of industrial-grade platform products, shelf technology and consumer-grade new products. The company is also preparing for an IPO on Shanghai’s Nasdaq-like STAR market.
About Deepinfar
Founded in 2013, Deepinfar is an innovative technology enterprise focusing on independent research, development, production and sales of underwater intelligent equipment. At present, its independently developed products cover marine scientific research, water conservation and hydropower, water rescue, aquaculture, offshore oil, underwater engineering and other fields.
