DealsStartups

China DealBook: Zhaogang.com invests in Haizhimao; Sinovation Ventures and GGV Capital-backed Philm banks over $ 10m

Investments in e-commerce, entertainment, marketing, apartment rental, and health care.

| Photo by Lotte Löhr on Unsplash.

E-commerce

Company: Haizhimao 海之猫

Round: Series Pre-A, May 2018

Amount: RMB 10 million (approx. US$1.6 million)

Investors: Monarch Capital Management, Zhaogang.com

Profile:

Founded in May 2016, Haizhimao partners with factories that separate fruits in line with grading standards to provide these fruits to distributors and e-commerce platforms whose needs vary in terms of price and grade. It also operates Guodu, a website that aggregates prices and logistics information to facilitate fruit trading.

According to the founder of the startup, the trading volume of fruits in China reached RMB 2.8 trillion (approx. US$439 billion) in 2017 and there are huge opportunities for Guodu to grow.

Haizhimao claims it has formed partnership with 70 fruit factories and 300 fruit farms, and its GMV has reached RMB 15 million (US$ 2.4 million).

 

Entertainment

Company: Philm 黑咔相机

Round: Series A+, May 2018

Amount: over US$ 10 million

Investors: Qiming Venture Partners, GGV Capital

Profile:

Philm is a photo-editing tool that is available on iOS App Store, Android app store, and WeChat mini program. Founded in 2014, it already has 6 million daily active users.

The startup sees opportunities for monetization in advertising and in WeChat mini program-based games, which Philm will develop with the fresh funds.

The latest funding round valued the startup at USD 80 million. Zhen Fund, Sinovation Ventures, PingAn Ventures, Trends, Ceyuan Ventures, and GGV Capital have previously invested in the startup.

 

Marketing

Company: ChainPlus

Round: First round, May 2018

Amount: RMB 12 million (approx. US$ 1.9 million)

Investors: Geekbeans Capital

Profile:

Founded earlier this year in Hong Kong, ChainPlus provides marketing and consulting services in China to overseas-based cryptocurrency companies. The startup charges US$50k to 200k for marketing campaigns which last 1 month to half a year.

According to the startup, it is well-connected with Chinese crypto communities. Its investor Geekbeans Capital has previously invested in exchanges, wallets, crypto media, etc, and seeks to create synergy between its portfolio companies. China banned ICO in September 2017 but is seeking to be a front-runner in blockchain technology.

 

Apartment Rental

Company: Hailian Zufang (海链租房)

Round: Series Pre-A, May 2018

Amount: RMB 10 million (approx. US$1.6 million)

Investors: Undisclosed

Profile:

Hailian Zufang is an online platform that provides SaaS as well as financial and management services to medium and small operators of apartments for long-term rent. At the same time, Hailian Zufang aggregates apartments for rent on its platform. According to the startup, it already has 50k apartments on its platform across 13 Chinese cities.

The Beijing-based startup was founded in December 2017. As founder and CEO YANG Junyuan puts it, financial services will play an important role in its future businesses, as the startup can provide loans to both apartment operators and tenants.

The latest funding round values Hailian Zufang at RMB 100 million (approx. US$ 15.7 million). China’s home appliance manufacturer Haier’s financial arm has previously invested in the startup, allowing Hailian Zufang to provide additional services including purchases and maintenance of home appliances.

 

Health Care

Company: Orange Dental (极橙)

Round: Series A, February 2018

Amount: tens of millions of yuan

Investors: IDG Capital, Daotong Venture, Light-up Capital

Profile:

Founded in June 2016, Orange Dental now operates 2 dental clinics dedicated to kids aged 2 to 8 and plans to expand to 20 clinics this year. The startup previously raised RMB 5 million (approx. US 784k) from Zhen Fund in an Angel round and over RMB 10 million (approx. US$ 1.6 million) from Share Capital in a Series Pre-A round.

By decorating its dental clinic as a theme park, the startup comforts kids who are nervous. It has also set up digital medical records and provides customized prevention services.

The market size of dental care for children is now about RMB 30 billion (approx. US$ 4.7 billion) and is growing at a rate of 30% per year. Orange Dental claims it currently serves 1000 customers per month, and the average spending per customer is around RMB 1k (approx. US$ 157)

 

Company: Zhaoyang120 (昭阳医生)

Round: Series A+, earlier in 2018

Amount: RMB 20 million (approx. US$ 3 million)

Investors: Zhongnan Heduo (中南荷多), Rongming Capital (容铭资本), Guojin Capital

Profile:

Zhaoyang120 allows people to consult licensed doctors through video chatting, messaging and voice chat using its SaaS service. Founded in May 2015, the startup has also opened offline drug stores and clinics.

LIN Zhaoyu, the founder of the startup, claims there is a huge gap in the need for mental health care services and current offerings. By leveraging on the Internet business model, Zhaoyang120 has served 10k paying users since its inception and has over 2000 doctors on its platform.

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