Editor's note: We at EqualOcean tracked the major funding rounds or industry events in China's technology space in November 2022. And the following is a list of deals we have selected for you based on several criteria, including the funding amount, the financial backers, and the segments in which the startups operate.
Eagleyun(Chinese: 亿格云) harvested nearly CNY 100 million in series A from Yuanjing Capital (Chinese：元璟资本)and was followed by Sequoia China, the angel round investor. The capital will be used for upgrading current products, expanding application scenarios, customer services delivery and team talent building. Established in 2021, Eagleyun is a company devoted to zero-trust security services for enterprises. Eagleyun has become a famous Chinese company with cutting-edge technologies and the ability to provide secured cloud platform solutions. It promotes the digital security transformation of enterprises, solving the problems such as mobile and remote office security, data security and terminal security.
Satellite communication services provider SpaceTube(Chinese: 微联星智) pocketed nearly CNY 100 million (USD 14 million) in a Series A financing round led by Qianhai F.O.F. (Chinese: 前海股权投资母基金), with participation by Smart Internet Telecom Ark (Shenzhen) V.CV.C. The capital will support the R&D of new products and terminals for industrial high-reliability satellite communication and network, the construction of aerospace product lines, and market expansion. Founded in 2016, SpaceTube is China's first innovative company that produces satellite communications and networks in industrial batches. Its product line includes core satellite measurement and control systems components, satellite IoT with a fully autonomous system, satellite ground portable stations, and communication terminals.
3. Laifual Drive
Laifual Drive(Chinese:来福谐波), a precision transmission enterprise, bagged hundreds of millions of CNY from a Series D financing round led by National Manufacturing Transformation and Upgrade Fund Co., Ltd(Chinese: 国开制造业转型升级基金), with participation by Shanghai Hongyu Aviation Fund. The funds will support the harmonic reducer production capacity expansion and the construction of a new research and development center. Founded in 2013, Laifual Drive engaged in harmonic reducer research and development, design, production and sales.
4. Yuan Electron
Yuan Electron(Chinese:宇安电子), a developer of security electronics products, has completed a Series C+ financing round worth hundreds of millions of CNY, led by Shenzhen Zhongtian Fortune Fund Management (Chinese: 中天汇富), with participation by Taihecap and Beijing Xinjing Management. This year, this founding round ranks in the top 20% of all Series C+ financing rounds. Yuan Electron was founded in 2014 and focuses on the electromagnetic field. It provides high-end defense and security services and products based on A.I.A.I. technologies, including security monitoring, marine environment detection, and military-supporting electronics.
5. Thin Red Line
Thin Red Line (Chinese: 细红线), an augmented reality (A.R.A.R.) operating systems and products developer, announced its completion of the angle funding round amounting to CNY360 million (USD 50 million) on November 23. The round was led by Long-Z Capital (Chinese: 美团龙珠), with participation by Bluerun Ventures, Lenovo Capital and Incubator Group, Matrix Partners, Da-Jiang Innovations and A.T.M. Capital. Founded in 2022, Thin Red Line aims to develop the leading computing platform based on A.R.A.R. technology.
AVAR（Chinese:）, a cutting-edge virtual brand focusing on virtual human I.P.I.P. and virtual fashion products, received an angel+ round of funding. This round was led by Will Hunting Capital (Chinese: 唯猎资本 ), with support from China Growth Capital and MiraclePlus (Beijing) Investment Management Company Limited. A.V.A.R. has completed three consecutive funding rounds one year after its establishment, securing sufficient R&D funds. As a digital company, A.V.A.R.'s product matrix includes virtual games, virtual human I.P.I.P. and digital art generators with procedural algorithms, enabling customers to get their unique digital avatar and non-fungible token (NFT).
7. 6 Cloud Tech
6 Cloud Tech (Chinese: 六方云)announced the completion of a CNY 200 million C1 financing round. This funding round is led by Beijing Innovation Industry Investment Co., Ltd (Chinese: 北京创新产业投资有限公司 ), with participation by Tianjin Dehou investment management partnership enterprise, and the capital will be used for R&D activities of key products, market expansion, branding and talent recruitment. 6 Cloud Tech is dedicated to providing products and solutions for information protection and industrial Internet security through its "5+1" product line.
Faithindata (Chinese: 信安数据) raised tens of millions of CNY in Series A, led by C.L.P. (Chengdu)Network Security Equity Investment Fund Partnership (Chinese: 中电科(成都)网络安全股权投资基金). The company will use the capital for service upgrading, business expansion, marketing and R&D activities. Established in 2016, Faithindata is a leading data service intended for industry-grade data governance and awareness intelligence company. The company's services include platform construction, operational realization and relevant consulting, providing data asset management and data element circulation solutions.
Linchip (领芯电子) announced the completion of a series A financing round led by Spring Capital(草稚星基金). The funding rounds will serve as the "catalyst" for the subsequent development of chips. Headquartered in Hangzhou, Linchip is a provider of integrated circuit chips backed by a design expert from the U.S.U.S. and several team members with rich experience in 8-bit and 32-bit CPU and D.S.P. development. Linchip has successfully developed a series of chips widely used in fields including new energy vehicles, photovoltaic, energy storage and home appliance.
Founded in 2022 and headquartered in Hangzhou, Mindverse(Chinese: 杭州心识宇宙科技有限公司) is a virtual solutions provider. It recently completed an angel funding round worth hundreds of millions of CNY, led by Yinxinggu Capital, with participation by Plug and Play China, Linear Capital, and SEQUOIA CAPITAL. Mindverse will use capital to update the products, underlying algorithms, and R&D investment activities. Mindverse developed the first A.I.A.I. framework, "UMM," based on brain streams, aiming to break the limitations of existing A.I.A.I. technologies. Based on this framework, Mindverse provides customized virtual services, including the virtual spokesperson, virtual coach and virtual friends. In September, Mindverse launched the "Everything" app on WeChat and TikTok. Users can endow any object with personalities and self-awareness through A.R.A.R. scanning.
Rokid (Chinese: 若琪) attained CNY 1.25 billion in Series D from Hangzhou Yuhang state-owned capital (Chinese: 杭州余杭国有资本). Rokid is a leading robotic company based in Zhejiang Province that provides AI/AR tech gadgets and robotics software, aiming to provide superior industrial design and excellent user experience for various end users. The company's products feature excellent speech and image recognition and natural language processing ability.
Shaoxing Semiconductor Manufacturing Corporation (SMEC) (Chinese: 中芯集成) obtained I.P.O. approval at the listing committee meeting of the S.S.E. Science and Technology Board on November 25. The underwriter of this I.P.O. is Haitong Securities, which intends to raise CNY 12.5 billion (USD 1.75 billion). The approval indicates Chinese companies' effort to achieve domestic substitution of chips. Established in 2018, S.M.E.C. is one of the few Chinese companies providing automotive-grade chips in the MEMS (Micro-electromechanical Systems) field. S.M.E.C.'s product line includes MOSFET (metal–oxide–semiconductor field-effect transistor) process platform, IGBT (insulated gate bipolar translator), and one-stop service from wafer manufacturing to power module packaging and testing.
Ravepoint (知象) netted hundreds of millions of CNY in a Series C funding round, invested by SHENZHEN GUOZHONG VENTURE CAPITAL MANAGEMENT CO., L.T.D. (Chinese: 国中创投), Grand Yangtze Capital, Guotong Chuangfeng capital, Xi'an Zhongke Chuangxing Technology Incubator Co., Ltd, Eastern bell Capital, Essence Securities Co., Ltd and S.B.S.B. China Capital. Ravepoint is a leading 3D Chinese vision technology manufacturer. Based on 3D imaging and artificial technology, the company launched high precision 3D camera that is applicable in several fields, including medical imaging, intelligent hardware, VA/AR, metaverse and 3D printing.
X-EPIC(Chinese:芯华章), an electronic design automation(E.D.A.) solution provider, bagged hundreds of millions of CNY from a Series B financing round led by C.L.P. Zhongjin(Xiamen)Smart Industry Equity Investment Fund Partnership(Chinese: 中电中金基金), with participation by Mirae Asset and Henglu Asset. Founded in 2020, X-EPIC is an E.D.A. solution provider focusing on the digital front-end verification link, aiming to create a complete digital verification whole process service. X-EPIC has released the FusionVerify Platform with a unified underlying framework and 5 digital verification products with independent intellectual property rights.
15. Beijing Taifang Technology
Founded in 2015 and headquartered in Beijing, Taifang technology (钛方科技)is the innovator and leader of multi-touch screen hardware. The company completed a Series B+ funding round, led by HongTa Innovation Investment Co., Ltd (Chinese: 红塔创投) and Lenovo Capital and Incubator Group (Chinese: 联想创投). Taifang technology has realized positioning, force sensing, mode recognition, tactile feedback and other intelligent tactile perception technology functions. Taifang technology has developed two business segments: consumer electronics and automobile electronics. The company's main products include laptop force touch, intelligent automobile perception, force sensing the touch of smart wearable devices, and large and medium-sized touch screens.