Final week ended up fairly fruitful for a number of Chinese language enterprise service suppliers. AI, Large Knowledge, Telematics and Logistics companies caught traders’ consideration and raised vital funds, hinting at a shiny future for such companies within the digitizing world. One other winner of the week could possibly be HeyTea, mega-popular Chinese language cheese-tea model has probably raised new capitals at a mind-boggling valuation.

HeyTea rumored to have raised new funds at a 16 billion yuan valuation

Cheese tea chain HeyTea is rumored to have accomplished a brand new spherical of financing led by Hillhouse Capital and Coatue with its post-investment valuation probably exceeding 16 billion yuan. The corporate declined to remark.

Final summer time, the corporate raised funds from Tencent and Sequoia Capital at a valuation of 9 billion yuan. If the rumors of the present financing spherical show to be true, HeyTea’s valuation will practically double. 

In line with official working information, the corporate opened 390 shops in 43 cities in 2019, in contrast with 163 in 2018. On the identical time, the HeyTea app added 15.82 million customers all year long, with the entire variety of customers reaching 21.5 million.

READ MORE: Cheese Tea Model HeyTea Rumored to Have Raised New Funds at a Valuation of RMB 16B

About HeyTea

HeyTea is a Guangdong-headquartered cheese tea chain. The corporate closely depends on O2O, working an app and mini-programs permitting customers to put orders on-line. Not like different milk (cheese) tea shops, HeyTea offers a welcoming lounge house for his or her prospects, and resembles an opulent espresso store.

Logistics companies firm Weijie Chengpei luggage 100 million-yuan in collection B+ spherical

Weijie Chengpei vans (Supply: iYiou)

Logistics companies supplier Weijie Chengpei introduced the completion of a 100 million-yuan collection B+ funding spherical led by China Sources, the prevailing shareholder Falcon Capital continued to observe. Weijie Chengpei accomplished its Pre-A, A, and B financing rounds in December 2015, December 2016, and June 2018 respectively, with traders together with Innovation Workshop, SAIF Capital, and Deyi Capital.

Weijie Chengpei plans to make use of the newly raised funds for the growth and enchancment of its nationwide warehouse distribution community and the improve of its clever operation platform.

About Weijie Chengpei 

Weijie Chengpei is a logistics companies firm that at present serves greater than 400 enterprise-level prospects, together with Suning,, Alibaba, Budweiser, Yihai Kerry, Xiabu Xiabu, Xibei Noodle Village, Aunt Qian, Heli Grocery store, Yipinsheng Contemporary, Hema contemporary uncooked, Ding Dong procuring, Xia Shang Group, Ajisen Ramen, Starbucks, Macintosh, and many others. 

Pioneer of Chinese language Telematics, Pateo, raises an undisclosed strategic funding from Dongfeng Motor Company

Ken Ying, founder and CEO of Pateo (Supply: Pateo)

Chinese language Telematics startup Pateo introduced that it has obtained strategic funding from Dongfeng Motor Company, one in every of China’s largest auto-makers. The financing quantity has not been disclosed in the interim.

Dongfeng has been increasing its enterprise and shifting into the good mobility house. Pateo has cooperated with Dongfeng Group for a few years, together with on the Dongfeng Fengshen Baidu DuerOS-based synthetic clever in-vehicle system. Pateo and Dongfeng plan to deepen their cooperation following the funding.

About Pateo

Established in October 2009 and headquartered in Shanghai, Pateo is credited with being a pioneer of China’s Telematics business. It’s primarily engaged within the R&D and manufacturing of clever car data service techniques.

Temasek and Tencent pour $300 million into AI agency MinigLamp Know-how 

Wu Minghui, founder and chief govt of MiningLamp (Supply: iYiou)

Chinese language AI and Large Knowledge agency MinigLamp Know-how has accomplished a $300 million Sequence E spherical led by Tamasek and Tencent. The corporate will use the funds to extend funding in R&D, commercialize the collected business information and create a PaaS platform. It additionally hopes to extend its market share in all enterprise areas during which it’s concerned. 

MinigLamp Know-how will deepen its cooperation with Temasek and the Tencent-backed Kuaishou in worldwide market growth and advertising and marketing intelligence following the funding.

About MinigLamp Know-how

MinigLamp Know-how Group is an AI and massive information firm, established in 2006. Initially, it operated an engine analyzing Web promoting information and later developed into an internet clever advertising and marketing enterprise. 

Ben Givon

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