China Tech Newsletter – May 7, 2015

Drone maker DJI has raised US$75 million funding from Accel Partner. DJI drones now ship to more than 100 countries.

Founded in 2006, DJI has had more than 3,000 employees at its headquarters in Shenzhen, China and offices in the U.S., Germany, Japan and the Netherlands.

Telehealth startup Chunyu has set up 25 clinics in five Chinese cities, Beijing, Shanghai, Guangzhou, Hangzhou and Wuhan, offering clinic space as well as facilities to registered doctors on its telemedicine platform. The company’s plan is to set up some 300 clinics in 50 large and midsized cities by year end.

Chunyu charges an annual subscription fee for the online plus offline service, and the clinics will supply some drugs covered by the public medical insurance plans., a marketplace for mini-groceries operated from college dorms, announces Series A+ round of funding from Bertelsmann Asia Investments and installment loans provider Fenqile. Launched in December 2014, the company announced Series A funding from Vertex Venture Holdings Ltd. and angel investment earlier in March. (via enables college students to open online mini-stores to sell goods to their schoolmates. The company has developed store management software and supplies goods to store owners. The newly introduced investor Fenqile will offer RMB3,000 (about US$480) in an interest-free loan to help new stores get up and running.

The startup’s competitors include 59store, which also announced Series A funding in March. Inc. is reportedly acquiring employment website, which was fully acquired by Monster in 2008 and then sold to Myjob for US$30 million in 2013. (via Sina Finance)

Dianping, the leading ratings and reviews service, has added on-demand lifestyle service platform, too. Meituan, Dianping’s competitor in group-buying, and, the leading local listing site, both bet big on it.

Dianping’s currently covers laundry, house cleaning, massage and manicure, and will expand to beauty treatment, car maintenance, chef and chauffeur services.

Alibaba Group reports first quarter results and names new CEO. Daniel Zhang, current COO, will replace Jonathan Lu as CEO.

China’s Premier Li Keqiang visited the InnoWay, a street full of incubators, startups, tech media companies and startup-themed cafes in “China’s Silicon Valley”, Zhongguancun.

The Chinese government has recently unveiled series of measures to boost employment through entrepreneurship. A directive the central government issued on May 1st encourages technology professionals at state-owned companies or organizations to found or work for startups.They are allowed to leave their current jobs that their positions will be kept for up to three years.


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