Startups in China seem to be on a roll last week, but none as big as Flipkart’s astonishing US$1 billion funding round in India.
Infant care etailer Miyabaobei received US$20 million series B funding from Sequoia Capital. The Chinese startup previously took RMB 10 million (US$1.6 million) in funding from China Renaissance K2 Ventures.
Chinese financial product search and comparison engine Rong360 has received a US$60 million series C round of funding led by Pavillion Capital, followed by Sequoia, Lightspeed, and KPCB. This latest round brings Rong360′s total funding to date to about US$100 million.
China’s biggest internet company, Tencent (HKG:0700), announced an RMB 20 million (US$3.2 million) series A round of funding into app-connected laundry service Edaixi. It’s made by laundromat chain Rongchang.
WeChat-based CRM solution provider Weimob announced it raised RMB 30 million (US$4.8 million) in series A funding from Meridian Capital China.
Online question platform Yuantiku raised US$15 million in series C funding from existing investors Matrix partners China and IDG. Prior to this, it received US$2.2 million in series A funding from IDG in 2012 and US$ 7 million in series B funding from Matrix Partners China and IDG in 2013.
Fangcang, a SaaS platform for the hotel and travel industry, raised RMB 10 million (US$ 1.62 million) from Qingsong Fund.
India’s largest online retailer Flipkart has raised over US$1 billion. Half of the fresh funds are expected to come from existing investors such as Tiger Global, Russian billionaire Yuri Milner’s DST, and Accel Partners. This is not only the biggest ever funding round by an Indian ecommerce company, but comes close to Uber’s US$1.2 billion round last month.
Naldo, a web-connected last-mile delivery service, nabbed an undisclosed series A round from Softbank Ventures Korea and Qualcomm Ventures. Naldo is a sort of Uber for urban logistics.Editing by Steven Millward