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China DealBook: Tencent Cloud invests in CODING; Meituan-Dianping acquires Passiontec

Investments in enterprise services and big data.

China DealBook: Tencent invests in software crowdsourcing platform CODING; Meituan-Dianping acquires ERP services provider Passiontec
| Photo by Hack Capital on Unsplash

Enterprise Services

Company: CODING (扣钉)

Round: Series B+, May 2018

Amount: RMB 100 million (approx. USD 15.7 million)

Investors: Tencent Cloud

Profile:

CODING is a software crowdsourcing platform on which developers could co-develop software and manage their code base. According to the startup, it has served over 1k companies and over 800k developers.

Founded in 2014, the startup raised over RMB 10 million (around USD 1.6 million) in a Series A round led by IDG Capital and USD 10 million in a Series B round from Lightspeed China Partners and IDG Capital.

ZHANG Hailong, founder of CODING, had previously worked as a senior software developer at Oracle.

 

Company: Passiontec (屏芯科技)

Round: Acquired by Meituan-Dianping, May 2018

Amount: Undisclosed

Profile:

Founded in November 2018, Passiontec provides ERP services to medium and small restaurant owners. The startup provides apps and hardware to allow customers to place orders and pay online and to help restaurants do precise marketing and improve efficiency.

Restaurant review platform Dianping made a strategic investment in the startup in 2015 and Meituan-Dianping, which was created through a merger between Dianping and rival Meituan in 2015, injected over 100 million yuan (over USD 15.7 million) in the startup again in April 2016.

The acquisition will help Meituan-Dianping integrate online and offline data and understand more about users’ preference.

 

Company: Jisuapp (即速应用)

Round: Series A, May 2018

Amount: RMB 50 million (approx. USD 7.9 million)

Investors: Saifu Dynamic Equity Investment Fund Management Partnership, Haier Saifu

Profile:

Jisuapp is an online platform that provides WeChat mini program developers with templates to facilitate the process of development. Users can easily develop apps for e-commerce stores, food delivery, appointment booking, and membership management.

The startup is founded by an ex-Baidu employee in 2014 and has raised three rounds of financing worth around RMB 90 million (around USD 14.1 million).

 

Big Data

Company: Wenge Group (中科闻歌)

Round: Series A, May 2018

Amount: RMB 100 million (approx. USD15.7 million)

Investors: Casstar, Blue Ocean Capital Group

Profile:

Wenge Group provides big data solutions to monitor public opinion and to facilitate decision making. Founded in 2017, the startup now serves over 200 customers including media companies and government departments. Wenge Group charges for software development, SaaS services, and analysis reports.

The founding team of Wenge Group comes from the country’s scientific think tank, Chinese Academy of Sciences, giving the company easy access to state-backed customers.

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