Fleet Financing

China VC Weekly: Fintech and robots


In last week’s VC news, Airwallex fintech professionals completed a $ 200 million Series E cycle for a $ 4 billion valuation, autonomous driving startup DeepRoute.ai raised about $ 300 million in successful Series B round, AI firm Keenon Robotics raises $ 200 million in their Series D Tour, eVTOL Autoflight newcomer wins massive Series A round, while that HAI ROBOTICS has raised $ 200 million to increase its robot fleet.

The Fintech Airwallex unicorn takes a new turn with a financing value $ 4 billion

Fintech powerhouse Airwallex has raised around $ 200 million in a Series E financing round at a massive valuation of $ 4 billion.

This latest round of investment follows an extended Series D fundraiser in March, solidifying Airwallex’s position as one of the fastest growing unicorns in an unprecedented business environment affected by the pandemic.

The last round was led by Lone Pine Capital. New investors, G Squared and Vetamer Capital, joined longtime investors 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China in the fundraising campaign. With the completion of Series E, Airwallex has raised over $ 700 million in equity funds to date.

This round of investment capital will support Airwallex’s global expansion and allow the company to accelerate several product development initiatives across its five engineering centers, grow its sales and sales teams, and expand its offer for SMEs and large companies operating in the digital economy.

About Airwallex

Co-founded by Zhang and Lucy Liu in Melbourne in 2015, Airwallex provides services, including end-to-end payment and collection solutions, to clients such as China-based e-commerce retailers and businesses such as payroll platforms such as Papaya Global. Its two other co-founders are Xijing Dai and Max Li.

Autonomous Driving Company DeepRoute.ai Completes $ 300 Million Series B Funding

DeepRoute.ai, an L4 autonomous driving company in China, said on Tuesday it had completed a $ 300 million B funding round. This funding round was led by Alibaba, followed by previous shareholders such as Fosun RZ Capital, Yunqi Partners and Glory Ventures, as well as industrial funds under Jeneration Capital and the investment company under Geely.

The Society of Automotive Engineers (SAE) has defined 6 levels of driving automation ranging from 0 to 5. Level 4 vehicles do not require human interaction under most circumstances.

Chinese media LatePost said that DeepRoute.ai, founded in February 2019, raised around US $ 400 million and its valuation exceeded US $ 1 billion.

The CEO of DeepRoute.ai, Zhou Guang, laid out the company’s plans for the money: “This round of financing will be mainly used for the company’s R&D investment, accelerating the expansion of the workforce as well. as the scale of autonomous driving tests and operating fleets. . Our company has started trial operations for our RoboTaxi in central Shenzhen. This year we will also start the application of autonomous driving in freight transport.

About DeepRoute.ai

Since its establishment in early 2019, DeepRoute.ai has entered into agreements with Dongfeng Motors, Cao Cao Chuxing and Xiamen Ocean Gate Container Terminal Co., Ltd., in China, and has launched automatic driving tests and demonstration operations in Shenzhen. , Wuhan, Hangzhou and Xiamen.

Keenon Robotics pockets $ 200 million in Series D

Chinese media 36Kr reported on Wednesday that Keenon Robotics Co., Ltd. This round of funding was led by Vision Fund and was followed by CICC ALPHA and Prosperity7 Ventures.

China Renaissance was the exclusive financial advisor for this transaction. So far, this round of financing is the largest trade finance transaction in the field of trading robots in China.

Li Tong, founder and CEO of Keenon, said this round of funding will be used to expand its R&D and supply chain advantages, improve its overall sales and service capabilities, accelerate the application of business in multiple scenarios and further promote the scale and deployment of trading robots.

In December of last year, the Shanghai-based company announced the completion of a multi-million-yuan Round C funding round, with SoftBank Ventures Asia and Alibaba Group as investors. As of October 2020, its food delivery robots ranked first in the 4.6 trillion yuan catering market, with a global market share of over 80%.

About Keenon

Keenon, established in 2010, is an artificial intelligence company dedicated to providing intelligent unmanned distribution solutions for global businesses. Keenon’s robots have served in more than 500 cities in China, as well as more than 60 overseas countries.

Shanghai Autoflight Wins Biggest Funding Round Among Chinese eVTOL companies in the Series A fundraiserr

Shanghai-based Fengfei Aviation Technology, known by its English name Autoflight, is a leading R&D and manufacturing company for autonomous electric vertical take-off and landing (eVTOL) aircraft. The company announced that it had recently completed its $ 100 million A round of funding. This is the largest funding obtained to date by a national eVTOL company.

Xie Jia, vice president of Autoflight, said this round of funding will be used for the R&D and manufacture of manned eVTOL aircraft – essentially a “flying car” – high-end recruiting, airworthiness certifications and a expanding market application.

About automatic theft

Autoflight was established on September 26, 2019 and is dedicated to the design, R&D, manufacture and maintenance of unmanned aerial vehicles. The company’s R&D headquarters was established in Shanghai in 2017. In domestic markets, the company entered at a relatively early stage, specializing in R&D and manufacturing of autonomous aircraft. At present, Autoflight has more than 300 employees, of which more than half of the technical R&D personnel, engaged in aircraft design, flight control algorithms, automatic steering, AI, avionics system , power systems and composite materials.

Shenzhen-based HAI ROBOTICS Raises $ 200 Million

Shenzhen-based warehouse robotics start-up HAI ROBOTICS announced it has secured two new rounds of funding, totaling more than $ 200 million.

The company will invest the funding in strengthening its robot fleet with technology upgrades, expanding its global operating networks, optimizing its supply chain management and business structure. business, as well as hiring more people.

Cycle C funding was led by 5Y Capital with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital.

Funding for Round D, the third capital injection for the company in 2021, was led by Capital Today and was joined by former investors including Sequoia Capital China, 5Y Capital, Source Code Capital, Legend Star and 01VC .

Earlier in March, the company announced $ 15 million in B + funding. The rapid pace of funding can provide insight into the valuation of the market for its products, technological strength and services.

SEE ALSO: Chinese Robotics Warehouse Startup HAI ROBOTICS Secures $ 200 Million Funding

About HAI ROBOTICS

Founded in 2016, HAI ROBOTICS has acquired more than 400 global patents for fundamental intellectual properties involving positioning, robot control and warehouse management. HAI ROBOTICS launched the world’s first autonomous robotic case handling (ACR) system, HAIPICK, in 2015. HAIPICK robots can pick and place packages on storage racks up to 5-7 meters high and are capable of to transport up to 8 loads in a process that continuously supplies the picking stations.


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