Golden Week brings a boost to domestic consumption
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China's Venture Roundup
Volume 7 (11 - 18 October 2020)

Happy Tuesday from KrASIA! 

Coming out of a quiet Golden Week, we witnessed a natural boost in investment activity — 4x the number of deals from last week. Transportation and shared mobility takes the spotlight — Shouqi Yueche (首汽约车) and GoFun have raised hundred of millions for their Series C and B rounds. 

Key political and economic leadership continues to espouse national will for economic reform; their aim is to create an optimized environment for both local and overseas enterprises to flourish in China. 

Key trends we observed
  • Investments quadrupled this week; totalling 60 deals closed, compared to 15 the week prior 
  • Healthcare and Enterprise Services hold their lead, accounting for 23.3% and 31.6% of all investments respectively
  • Investors showed favor to growth stage startups — 53.3% of all investments were made in Series A and Series B rounds

View charts

Top stories: VCs and Investments
  • Largest transaction of the week: Shouqi Yueche (首汽约车) raised several hundred million USD for its series C
  • Capital flow in the Education industry indicates the beginning of the Matthew effect; investors return to established, top-tier companies 

Read on

Top stories: Policy
  • 414 companies list on Shenzhen Stock Exchange's GEM (Growth Enterprise Market) board — a nod to the positive effects of recent regulation reform
  • Premier Li Keqiang emphasizes national will to create a fair, well-regulated environment for both domestic and foreign-funded companies. 

Read on

Note-worthy startups on our watchlist
  • Thirteen (十三余品牌) — traditional clothing company founded by 2 millennial content creators; sales hit more than RMB 300 million in 2019, 10% of which was from the 11/11 sales.
  • YMLC (御米粮仓) — smart hardware company that creates intelligent food storage and purification for rice; addresses the issue of low, domestic adoption rate of rice boxes. 
  • QCraft — autonomous driving solutions company focused on developing large-scale intelligent simulation systems, self-learning decision-making framework and more, for Level 4 autonomous urban driving. 

Learn more

Note: KrASIA's 'China's Venture Roundup Volume 7' was adapted from 36Kr's Venture Weekly series

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