China Roundup: Caocao, Zeekr, Dalezhuang secure new rounds of funding

Geely subsidiary Caocao reportedly raises “several billions of yuan” in latest round

• Returning investor: Geely through Zhejiang Geely Holding Company
• Other investors: Unspecified
• Stage: Unspecified
• About the startup: Caocao Chuxing is a ride-hailing startup that focuses on zero emissions transportation through electric vehicles (EV). After the investment, Geely’s shares CaoCao will go up to about 77.33% of its total shares.

Geely’s premium EV unit Zeekr raises US$500 million in first external round of funding

• Investors: Bilibili, Intel Capital, Ningde Times, Boyu, and battery maker CATL, among others
• Stage: Pre-series A
• About the startup: Launched just this year, Zeekr focuses on younger audiences looking for premium EV choices. Its Zeekr 001 EV is a five-door sedan slated for delivery in China in October. This will be followed by a global release by 2022.

Cloud computing startup Dalezhuang raises over US$15 million in pre-series A round

• Lead investors: Bertelsmann Asia Investments
• New investors: Tencent, China Merchants Capital, and Eastern Bell Capital
• Returning investors: Oriental Fortune Capital
• Stage: Pre-series A
• Funds used for: Bolstering its prefabricated software offering and supply chain
• About the startup: Focusing on the construction industry, Dalezhuang said it completed three rounds of funding within the last 12 months, winning support from investors such as Oriental Fortune Capital and K2VC.