Understand what moves China tech with us — we roundup what you need to know about the local venture scene every Thursday morning 8am (SGT). The big investment stories, MNC partnerships, noteworthy startups, most invested industries of the week and more.
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Key trends
KrASIA tracked 108 private investments, amounting to more than RMB 17.74 billion (USD 2.71 billion), in the past week.
Top IPOs of the week
Bilibili (哔哩哔哩) | Secondary listing on HKSE
Bilibili was founded in 2009 by Xu Yi, a 20-year-old university graduate in Hangzhou, as a platform for himself and fellow animation lovers to share foreign cartoon content. Subsequently, it transitioned from a hub for fans of animation, comics, and games into a comprehensive platform for creative individuals to disseminate their content at massive scale.
One of China’s most popular video platforms, the company successfully raised HKD 20.2 billion (USD 2.6 billion) in a secondary listing in Hong Kong.
How did Bilibili perform on its debut? Read here to find out.
Startups on our watchlist
Haibao Technology (海保科技) | Angel Investment
Established in 2019, Haibao Technology is an innovative platform that enables insurance sales agents to operate in a more efficient way. Leveraging cloud computing and AI technologies, the company introduced an app, Hailiangbao, which insurance agents can use to draft digital insurance contracts, compare terms between policies, network with potential clients, and even profile their clientele.
EpimAb | Series C
EpimAb possesses a proprietary technology called FIT-Ig (Fabs-In-Tandem Immunoglobulin). Unlike its precedents, which rely on different monoclonal antibodies to engage each type of target, FIT-Ig generates bi-specific antibodies that can detach and reform into various molecules on the genetic level, allowing multi-targeting applications that improve cancer treatment effectiveness.
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