Venture Capital

Metax, Yunji Technology in funding news

Read more at www.dealstreetasia.com

Metax has raised ‘millions of US dollars’ in its pre-Series A round led by Sequoia Capital China. In a separate development, Beijing Yunji Technology has garnered an undisclosed sum in its Series C round led by Qiming.

Sequoia leads pre-Series A round in Metax

Sequoia Capital China has led a pre-Series A round in Shanghai-headquartered graphics processing unit (GPU) chip designer Metax, per an announcement.

The round also saw the participation of new investor ZhenFund, and existing backers CTC Capital and TEDA Venture Capital.

CTC and TEDA had jointly invested about 100 million yuan ($15 million) in Metax’s angel round in November last year.

Set up in September 2020, Metax produces self-reliant GPU chips and tools and caters to startups operating in areas of data centre, cloud-computing games and AI.

The company has also launched a corporate research institute with Zhejiang University to facilitate the research and development of next-generation GPU.

Qiming backs Yunji Technology 

China’s service robot developer Beijing Yunji Technology Co., Ltd has garnered an undisclosed sum in its Series C round led by Qiming Venture Partners with the participation of new investor CITIC Securities, the investor announced on Monday.

The corpus raised by Yunji over the past 10 months in its Series B+ and C rounds stands at 500 million yuan ($77 million).

A clutch of returning investors also joined the fresh round and these include prominent names such as Tencent, Lenovo Capital, AlphaX Partners and LanTing Capital.

Yunji manufactures service robots to fill the demand for business usages and caters to industries such as hospitality, retail, education, healthcare, and automobiles, among others.

It claims to have served over 5,000 clients comprising Marriott, Accor Hotels, Peking University, and Fudan University.

Read more at www.dealstreetasia.com

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