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Key trends
83 investments were tracked in the past week, totalling RMB 4.61 billion (USD 714.23 million). Check out the complete industry and funding round breakdown in the full-version of China Venture Roundup.
Top Stories: VCs and Investments
Social gaming startup Guangzhou Quwan Network Technology successfully raised USD 100 million in a Series B round from Matrix Partners and Orchid Asia. Alongside its voice messaging and e-sports businesses, the company also owns TT Voice, a popular chat service made for gamers. Wang Huadong, partner at Matrix Partners, said during an interview that the commercial value of audio tools and services are underestimated in China.
MNCs in China
On January 18, Audi and parent company Volkswagen formalized a joint venture with the China’s FAW Group to manufacture electric vehicles. The news follows Audi and FAW forging a joint venture for electric vehicles in October 2020. These partnerships signal the automobile giant’s long-term commitment to doing business in China.
Top IPOs of the week
Angelalign (时代天使)
Fundraising target: USD 300 million
Hong Kong IPO application filed
In China’s booming beauty economy, it is customary to seek a set of perfect pearly whites. However, clunky metal braces have lost their appeal. Instead, transparent and portable braces are gaining popularity. Angelalign capitalizes on this trend with its digital orthodontics solution.
Startups on our watchlist
Enterprise Services
PrintHOME (小象智合)
Founded in 2015; Series A+
PrintHOME is an intelligent and collaborative industrial printing platform. It renders a digital management system for design agencies, printing factories, and packaging shops. The company also provides consumer brands with services related to packaging and printing. These cover brand strategy, creative design, and supply chain management.
Additionally, PrintHOME integrates the production capacity of packaging shops and printing factories across China to create a “cloud factory”—a digital platform that supports agile delivery and flexible manufacturing. This allows PrintHOME to halve turnaround time and achieve higher output efficiency.
At present, hundreds of factories are part of PrintHOME’s cloud factory.
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