Zhiyun Health nets US$144 million in a combined C, D round, progressing towards China’s “healthcare unicorn” status – Dealstreet Asia
Zhiyun Health secured US$144 million (RMB1 billion) in a Series C+ and D round of financing led by CMB International and SIG Asia Investments, putting it “on the path” to becoming the next unicorn in China’s digital healthcare field, according to a Dealstreet Asia report.
The fresh funds will be used towards the development of its hardware, to strengthen its capabilities for data collection and analysis. The proceeds will also be used to speed up their business system powered by the “artificial intelligence of things” (AIoT).
The Series C+ round for the digital healthcare service platform was helmed by SIG Asia Investments, along with participation from OP Financial, China Electronics Corporation (CEC), and South Korean electronics group Samsung Electronics.
Southeast Asia sees a record-breaking investment of US$266M in health tech space – Dealstreet Asia
According to industry researcher Galen Growth, a record of US$266 million was invested in health tech space in Southeast Asia last year which is more than the double of what was invested before, Dealstreet Asia reported.
Singapore and Indonesia managed to score a major chunk of the investments in terms of the share of deal volume, however, neighbouring countries like Malaysia, Vietnam and Myanmar
attracted a higher number of investments.
Reports also indicated that medical diagnostics, health management systems and online marketplaces were the sectors that secured the most funding.
“Overall, the Asia Pacific region recorded US$4.5 billion in funding, across 340 deals, out of US$15 billion globally in 2019,” according to a statement released to Dealstreet Asia.
Getaround, a Softbank portfolio company, lays off a quarter of its employees – The Information
Getaround, Silicon Valley’s car rental startup announced today that it has laid off 150 employees, blaming the decision on SoftBank’s recent struggles, The Information reported.
This is not the first time a SoftBank backed company has endured hardships, while none have been as dramatic as WeWork.
Layoffs have also plagued startups like Wag, car subscription startup Fair, construction company Katerra and Zume.
“The world’s largest tech investment fund has ‘had their own challenges,’ and it’s hard to say that doesn’t have a ripple effect across their whole portfolio,” said Getaround CEO Sam Zaid.
3D sensor firm Hesai raises US$173M funding led by Bosch, Lightspeed China – Dealstreet Asia
The pre-Silicon Valley established Shanghai-based 3D sensor company announced on Tuesday that it has raised US$173 million in a Series C round, led by Bosch and Lightspeed China.
Hesai is a company which specialises in designing and manufacturing smart laser sensor solutions for autonomous cars. Its products are active across 18 countries with Europe and the US accounting for about 60 per cent of the exports.
In the past Hesai had also secured over US$150 million from Baidu and ZhenFund. The CEO asserted to Dealstreet Asia that its Series C financing is the largest so far in China’s LiDAR industry.
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