China Venture Roundup Volume 44 covers China’s investment activity from July 5 to July 11, 2021.

Meet China’s cybersecurity watchdog | China Venture Roundup Volume 44

Find out what moves China tech with us. We round up what you need to know about the local venture scene every Thursday morning at 8:00 a.m. (GMT +8), covering major investment stories, MNC partnerships, noteworthy startups, industries with the most investments for the week, and more.

Top Investment Story

City Cloud Technology (城云科技)

City Cloud, a smart city solutions provider, completed a Series D financing round worth RMB 1 billion (USD 154.4 million) involving Chinese state-owned funds, including Guangzhou Yuexiu Industry Investment Fund and Hangzhou Hi-tech Venture Capital.

The company’s services can be applied in urban management, public security, parking, emergency safety, and transportation to improve traffic congestion in cities. For example, City Cloud cooperates with blockchain company Hyperchain to enable data sharing between departments without compromising security in places like Hangzhou.

To date, City Cloud has more than 1,000 customers, including notable companies like Alibaba Cloud, China Telecom, NetEase, and Dahua.

Startups on Our Watchlist

IBTool (予信科技)

Established in 2017, IBTool is committed to automating the financial industry, where complex business rules lead to tedious tasks that are arduous and time-consuming. The foundation of IBTool’s business is the digitization of working files and documents. After employees scan the documents, IBTool’s digital system uses optical character recognition to capture the text information from an image with a 99% accuracy rate.

Additionally, IBTool’s system enables more complex financial automation. By writing complex financial business rules into code, IBTool launched its own due diligence system, which can analyze documents, identify investment risks, and issue early warnings to project leaders. IBTool can also automatically generate financial documents, using 54,000 industry rules to create and analyze relevant knowledge graphs.

IBTool recently raised eight digits in yuan (more than USD 1.5 million) in its Series A round led by Plum Ventures.

KrASIA News Picks

China’s cyberspace watchdog shakes US capital markets

Major companies have been caught in a dragnet as Chinese authorities look to rein in the mining of its citizens’ data. The most recent high-profile case being a security probe into Didi’s USD 4.4 billion mega IPO. Three other firms, including US-listed Boss Zhipin, Yunmanman, and Huochebang—the latter two of which merged to form Full Truck Alliance, a company whose IPO we shared about recently—were also dragged into a similar situation.

Behind these moves is the Cyberspace Administration of China, or CAC. One of our editors, Simone, unmasks China’s cyberspace watchdog and what we should expect from this newly dominant agency.


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Chip designer Yusur completes Series A financing to hone DPU tech

Yusur designs DPUs that offer low-latency, decentralized processing across cloud networks.

Read more: Chip designer Yusur completes Series A financing to hone DPU tech

Pakistan’s Dastgyr raises USD 3.5 million seed for its B2B e-commerce marketplace

In addition to launching its fintech offerings, Dastgyr plans to use the investment to enhance its technology and scale operations.

Read more: Pakistan’s Dastgyr raises USD 3.5 million seed for its B2B e-commerce marketplace

Myanmar rights groups file complaint to OECD against Telenor over ‘irresponsible’ sale of business

With 18.2 million subscribers, Telenor’s sale of its Myanmar business leaves some users worried about the transfer of their data to a new telco.

Read more: Myanmar rights groups file complaint to OECD against Telenor over ‘irresponsible’ sale of business

Taboola to buy US ad solutions firm Connexity for USD 800 million

Connexity is one of the world’s largest e-commerce media platforms, with over 1,600 direct merchants and 6,000 publishers.

Read more: Taboola to buy US ad solutions firm Connexity for USD 800 million

Checks get fatter for India’s early-stage startups

Indian startups raised a whopping USD 12.1 billion across 382 deals—exactly half the number of deals VCs participated in last year to invest USD 11.1 billion.

Read more: Checks get fatter for India’s early-stage startups

Krafton expects IPO success as big investors show interest

South Korean game developer downplays overvaluation concerns.

Read more: Krafton expects IPO success as big investors show interest

ByteDance searches for new monetization channels | China Venture Roundup Volume 45

China Venture Roundup Volume 45 covers China’s investment activity from July 12 to July 18, 2021.

Read more: ByteDance searches for new monetization channels | China Venture Roundup Volume 45

Zomato makes steller debut on bourses, market cap hits INR 1 trillion

Zomato’s IPO—India’s biggest so far this year—was sold in a price band of INR 74–76 a share from July 14–16.

Read more: Zomato makes steller debut on bourses, market cap hits INR 1 trillion

Byju’s buys US-based edtech startup Epic for USD 500 million

Ant Group director sees relaunch of IPO ‘before too long’

India’s Uber for trucks, BlackBuck, reaches unicorn status with latest USD 67 million funding

India’s offline traders are taking on Flipkart and Amazon head-on

Cloudwalk to be the first of China’s 4 ‘AI dragons’ to go public

As the short-video wave crests, ByteDance accelerates monetization through new verticals

Israel’s MDClone uses synthetic data to help health providers roll out better, smarter care

Cybertino Lab launches NFT marketplace for influencers to create and trade digital assets

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