China Tech Newsletter – Aug. 28, 2015

Meal delivery service announces completion of US$630 million Series F funding at a valuation of more than US$3 billion. Founded in 2009, the company announced US$80 million Series D in May 2014 and US$350 million Series E in January 2015.

This round was led by CITIC PE and Beijing Hualian Department Store Co., with participation from China Media Capital, Gopher Asset and existing investors Tencent, and Sequoia Capital.’s platform has more than 300,000 merchants from 260 cities. It has had 40 million users that generate more then RMB60 million (about US$10m) in daily sales, according to the company. 98% of the sales are from mobile.

The company has a delivery team of some 4000 people and some 200,000 part-time delivery men. It announced earlier this month to open its logistics capability to third parties. Earlier in June it rolled out an in-house developed delivery management system.

Alibaba’s Koubei, which operates a marketplace for local lifestyle businesses, has led a RMB300 million (about US$48m) Series C funding in Shenghuo Banjing, a short-distance delivery service provider. Shenghuo Banjing announce RMB50 million (about US$8m) Series B funding in December 2014.

Shenghuo Banjing is powering delivery services including Koubei’s food delivery service. The company has about 2000 employees in 11 Chinese cities, planning to expand to 30 by the end of this year. (via Donews)

Xiaomi has invested in stock trading app Tiger Brokers. (via Sina Tech)

Founded in June 2014, the app received angel funding in early 2015.

Xiaomi launched Xiaomi Finance, a mobile app that sells financial products from third-party financial institutions, in May this year. It led a round of funding in peer-to-peer lending site Jimubox in 2014.

Internet-of-things solution provider Gizwits announces RMB200 million (about US$32m) in Series B funding.

Uber China has reportedly raised US$1 billion. — Reuters

A total of more than 30,000 stores outside of mainland China (some 3000 in Hong Kong) now accept Alipay mobile payments. Alipay began international expansion from early 2014.


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