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China Venture Roundup

Biotech company pursues triple listing on leading stock exchanges | China Venture Roundup Volume 20

Written by KrASIA Venture Roundup Published on 

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China Venture Roundup Volume 20 covers China’s investment activity from January 18 – 24, 2021.

This is a preview. Sign up to receive China Venture Roundup for the full scoop, every Wednesday at 7pm, direct to your inbox!

Key trends

KrASIA tracked 91 private investments in the past week, with fundraising amounting to RMB 10.86 billion (USD 1.68 billion). We highlight the complete industry and funding round breakdown in the full-version of China Venture Roundup.

Top Stories: VCs and Investments

Beijing-based artificial intelligence (AI) startup 4Paradigm closed its Series D round, raising USD 700 million from investors led by Boyu Capital. This is the single largest private financing deal in China’s AI industry since the beginning of 2020.

4Paradigm provides marketing solutions to banks—including the Big Four state-owned banks in China, which all injected capital in previous rounds—as well as sales prediction services for retailers. Among its customers are also the Chinese Academy of Railway Sciences, DHL, fashion designer Zegna, and Budweiser China.

Top IPOs of the week

BeiGene (百济神州)

Market Cap*: USD 34.15 billion
Completed listing coaching for Star Market IPO

BeiGene has completed its China domestic IPO coaching by CICC and Goldman Sachs Gaohua Securities last week. It will shortly submit its application to debut on the Sci-Tech Innovation Board, also known as the Star Market. If listed, BeiGene will become the first Chinese biotechnology company to be traded simultaneously on NASDAQ, Hong Kong Stock Exchange and Shanghai Star Market.

*As of January 25, 2021

Startups on our watchlist

Consumer  

Catlink
Founded in 2017; Seed round

Catlink owns a slew of intelligence health products for household pet cats. These devices include litter boxes, feeders, and drinking fountains, each priced at RMB 1,000–2,000 (USD 154–308). All of its products may be used with a complementary app to enhance functionality.

Since its global launch in September 2019, Catlink’s products have brought in tens of millions of yuan in revenue. Meanwhile, its proprietary app has garnered over 100,000 downloads.

Zhang Xiaolin, founder of Catlink, told 36Kr that pet ownership rate runs at 17% in China. This pales in comparison to the US, where the pet ownership rate is 70%, signaling an opportunity for massive growth.

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