China VC Weekly: Social e-commerce, Financial Services and Logistics

Community e-commerce startup Nice Tuan Nets $80 Million in Series C2 round

Chinese social e-commerce startup Nice Tuan announced its latest $80 million Series C2 round led by CDH Investments. As a result, the company’s total financing has reached nearly $300 million, according to GGV Capital who had previously backed Nice Tuan.

GGV Capital, INCE Capital, and CMBC Capital also contributed to the latest round, with Cygnus Equity serving as an exclusive financial advisor.

“We plan to set up 3 million pickup points across China in three years and allow users to get groceries sourced by Shihuituan within walking distance,” Nice Tuan CEO Chen Ying wrote in an internal letter released today. He defined “pickup points” as community group leaders, who are locals hired by Nice Tuan to collect orders.

Founded in 2018, Nice Tuan closed a $81.4 million round as early as May and another $88.3 million round in January, according to KrASIA.

About Nice Tuan

Founded in April 2018, Nice Tuan provides fresh produce, beverages, leisure food and daily supplies through a WeChat mini program to community customers. The company now serves nearly 20 million urban families across more than 100,000 residential communities in China.

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Shengli Financial Software raises a 100 million yuan round led by Sequoia Capital China

Hangzhou-based fintech system developer Shengli Financial Software raised 100 million yuan in a recent series B+ round led by Sequoia Capital China. Fortune Capital, Zhejiang Paradise Silicon Valley Asset Management Group, Zhejiang United Investment Group and also participated in the round.

“With the development of financial markets, the demand for high-performance computing platforms in domestic and international markets will continue to grow in the future. We hope that Shengli Financial Software will continue to provide customers with high-quality products and services in the future,” commented Wang Hao, vice president of Sequoia Capital China.

About Shengli Financial Software

Founded in March 2005, Shengli Financial Software is a Chinese financial system service provider, providing global trading technology services for financial institutions with a product line spanning multiple markets such as securities, futures, spot and derivatives.

Logistics-robot maker Standard Robots bags a 100 million yuan from Lightspeed China Partners and Source Code Capital

Industrial logistics service provider Standard Robots announced the completion of a 100 million yuan (US$14.3 million) series B round of financing co-led by Lightspeed China Partners and Source Code Capital.

Proceeds of the round will be mainly used for product line upgrades, mass production and overseas market expansion.

Shenzhen-based Standard Robots previously raised tens of millions of yuan in a series A round from Cash Capital in October 2018.

About Standard Robots

Established in 2016, Standard Robots is a mobile robot system and technology developer. With SLAM positioning technology, beacon positioning technology, inertial navigation technology and other independently developed technologies, the company’s main products include mobile robot positioning, navigation and motion controllers, industrial logistics robots, warehouse logistics robots, automatic inspection robots and supporting operating systems.