China VC Weekly: Airwallex Scores Big Despite COVID-19
Global financial markets are struggling, having been crippled by the COVID-19 epidemic and the amount of VC deals has noticeably decreased. However, despite the obstacles posed by the virus, Melbourne-based Airwallex managed to raise a staggering $160 million round of financing. The young Chinese robot company Robot++ also scored a jackpot with a 35 million-yuan PreA + round, while Ant Financial-backed VC BAce Capital decided to place a bet on Indian edtech.
Fintech unicorn Airwallex raises a $160 million Series D round
The cross-border payment platform Airwallex completed a $160 million Series D round of financing backed by new investors ANZi Ventures and Salesforce Ventures. Old shareholders DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures also contributed to the round.
The funds raised will be used to accelerate the construction of Airwallex’s global digital financial infrastructure and product development, as well as business expansion in emerging markets such as Europe, America and the Middle East.
Airwallex is a Melbourne-based cross-border fintech unicorn. The company’s mission is to build a global financial infrastructure to help internet companies grow in every corner of the world. The company is currently valued at $2.8 billion.
Robot ++ completes a 35 million-yuan PreA + round
Intelligent robot company Robot++ announced that it completed a 35 million yuan PreA+ round of financing in October 2019. The round was jointly led by CGP Investment and BJITIC & Co-op Fund and Kexin Capital. With the latest investment, the company’s valuation is in the hundreds of millions of yuan.
The capital will be used for product development. At present, the company produces small batches of ship derusting robots as well as chemical grinding and thermal power inspection robots.
Robot ++ is developing robots that can be used in high-altitude work. The company is mainly interested in aerial work robots that can be used in shipbuilding, thermal power, chemical, construction and other industries.
Ant Financial-backed BAce Capital invests in Indian Edtech Startup LIDO Learning
Indian edtech company LIDO Learning announced the completion of a round of financing worth $7.5 million. The company’s cumulative financing has thus reached $10.5 million. The round was led by Ant Financial-backed BAce Capital. Investors including Picus Capital and Paytm President Madhur Deora as well as some old investors of LIDO also took part in the round.
BAce Capital is a VC fund supported by Ant Financial established in April 2019. BAce plans to raise $150 million in funds for early Internet projects in India and Southeast Asia.
About LIDO Learning
LIDO Learning was launched in April 2019 and aims to provide a comprehensive solution for education in India through interactive online content. LIDO’s target audience is grade 5-9 students. The company offers online courses that include mathematics, natural sciences, etc. In addition, it also provides interactive learning content, such as animated videos and interactive games.