China Tech Newsletter – July 1, 2015

SaaS enterprise software developer Fenxiaoke, or Facishare, announces US$100 million in Series D round of financing from existing investors DCM VenturesIDG Capital Partners and Northern Light Venture Capital, and unnamed new investor(s).

Founded in 2011, the company claims to have had 110,000 clients.

Babytree, an online community for early care and education, is raising a pre-IPO round of financing. Qianhe Capital (our translation) and Efund Management Co. have joined this round.

The company would aim to get listed on a local stock market rather than in the U.S. as previously planned. (via Donews)

Online notes broker Piao Ju Bao has announced US$20 million Series A funding from Renren.

Renren has been actively investing in fintech startups in the U.S. and, more recently, in China. The company recently led Series B round of funding for Chinese online lending site Anxindeli. Last year it led a US$40 million funding round in Beijing-based financial social media Xueqiu.

20,000 stores of 300 drug retailing chains have landed on the mobile app of Alibaba Health since its launch earlier this year.

Mobile social service Momo launches a real-time bidding advertising system.

Xiaomi appoints Shou Zi Chew, former partner of global investment firm DST, as its Chief Financial Officer.

Online video and smart device company LeTV announced yesterday to enter health care by partnering with healthcare software solution developer WinningSoft (SZ: 300253). (via Sina Tech)

Didi is about to launch a taxi sharing feature. (via Sina Tech)


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