China saw a bit of a slowdown in startup funding in 2017, with the US$51.6 billion ploughed into tech companies lower than 2016’s US$53.9 billion, according to the Tech in Asia database.
Despite the drop, the average deal size grew, reaching a record US$31.9 million a pop.
Here are the 10 biggest tech investments of the year, starting at the lower end of the scale.
10th: Cainiao
- US$799 million
- Ecommerce logistics
Created by Alibaba in 2013 in partnership with 15 Chinese delivery companies, the spinoff firm was designed to speed up online shopping.
Photo credit: Alibaba
Alibaba initially had a small stake in Cainiao, but this latest investment bumps that up to 51 percent, giving it the majority interest.
9th: Mobike
- US$815 million
- Transportation
Mobike might’ve raised less than Ofo in 2017, but it still had a good year, matching its archrival’s tire print in reaching 200 cities around the globe.
Photo credit: luoxi / 123RF
Both Mobike and Ofo managed to squeeze out a few smaller Chinese rivals, with three competing startups collapsing in November.
Tencent and Foxconn are among Mobike’s investors.
8th: Ele.me
- US$1 billion
- Local services
7th: Bytedance
6th: Koubei
5th: Ofo
4th: NIO
3rd: Daikuan
2nd: Meituan-Dianping
1st: Didi Chuxing
