DCM Ventures plans to sell Kuaishou shares
Global venture capital firm DCM Ventures is planning to sell its remaining 91.66 million shares in Chinese short video platform Kuaishou Technology, aiming to raise up to USD 479 million.
According to a term sheet seen by Reuters, the shares are priced between HKD 40.28–41.13, representing 2.1% of Kuaishou’s outstanding shares. Morgan Stanley is the sole bookrunner for the transaction, which is set to close on September 20 and be settled on September 24.
Momos raises USD 10 million in Series A funding
Momos, a customer management platform for multi-location brands, has raised USD 10 million in a Series A funding round led by 645 Ventures, with participation from Alpha Wave Global, Peak XV Partners, and new investors Soma Capital, FJ Labs, Taurus Ventures, and Correlation Ventures.
The company, which was founded in 2021 by Sai Alluri and Andrew Liu, helps businesses manage their customer lifecycle using artificial intelligence.
Momos plans to use the capital to enhance its platform and drive growth across its global markets. The company serves major brands including Shake Shack, Baskin Robbins, and Guzman y Gomez across ten countries in North America, APAC, and the Middle East.
Physics Wallah secures USD 210 million in Series B round
Physics Wallah, an Indian edtech platform, has raised USD 210 million in a Series B funding round led by Hornbill Capital, according to Reuters.
The funds will support Physics Wallah’s expansion into the K12 segment, growth of its offline presence, and potential acquisitions.
With over 120 centers across India, Physics Wallah’s online business is expected to continue contributing more than half of its revenue by fiscal 2025. This fundraise comes at a challenging time for edtech players, which has seen reduced funding compared to previous years.
Recent deals completed in China:
- Hongjing Drive, an autonomous driving technology company, has secured a nine-figure RMB sum in a Series C1 funding round, jointly led by Quzhou Zhisheng Industrial Investment, Saudi Aramco’s Prosperity7 Ventures, Zhongtai Renhe Fund, and Walden International. Prosperity7 and Walden International, returning investors, have deepened their commitment, with Prosperity7 marking its third investment in the company. The company plans to channel the new capital into mass production and expand its presence in global markets. —36Kr
- JQ Industries, a developer of flexible fiber sensors, has raised close to RMB 10 million in an angel funding round led by Lingyi Capital. Chao Capital served as the exclusive financial advisor. —36Kr
- LEDA Technology, based in Shanghai, has closed a Series B funding round, securing over RMB 200 million. Hongtu Shanli led the round, with additional backing from Spinnotec, SDIC Venture Capital, CICC Capital, and SCGC Group. The funds will be used to advance product iterations and enhance market outreach. —36Kr
- Xingmai Chuangxin, a pool-cleaning robotics company, has completed its Series A funding round. The round was co-led by Cathay Capital, Monolith, and Anker Innovations, with participation from GL Ventures, Shunwei Capital, Source Code Capital, Yunmu Capital, Wuzhong Financial Holdings, and Gao Bingqiang. With this investment, the company’s post-money valuation approaches RMB 2 billion. It will focus on product development, talent acquisition, and market expansion, particularly in overseas markets where demand for pool-cleaning tools is surging. —36Kr
- Zencor, a healthcare firm specializing in myopia prevention, has raised tens of millions of RMB in an angel funding round led by Suzhou Jiahong Medical Fund. The new capital will be used to advance product R&D and manufacturing. —36Kr
CarbonEthics, Checkmate, Tour Amigo, and more led Wednesday’s headlines:
- CarbonEthics, an Indonesia-based climate tech startup focused on natural solutions, raised USD 2.1 million in seed funding led by Intudo Ventures, with angel investors participating.
- Checkmate, a platform that simplifies pre-employment screening, closed a USD 1.6 million seed funding round led by Wavemaker Partners.
- Tour Amigo, a B2B software-as-a-service player in the travel industry, secured USD 2 million in seed funding led by Wavemaker Partners, with additional backing from 500 Global.
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