Chinese autonomous driving system startup Zongmu Technology announced that it has raised a total of $190 million in its Series D round of funding, including from a Xiaomi-backed investment fund.
In last week’s China VC news: online grocery platform Dingdong Maicai bags a new tranche in its Series D round, bringing total financing amassed in the round to $1 billion; California-based biopharma firm Kinnate starts a joint venture to expand in China; luxury resale platform GoShare2 rakes in “tens of millions of US dollars” in Series C financing; and plant-based ground pork brand Zrou owner raised $7.3 million in a Series A round of financing.
Chinese grocery platform Dingdong Maicai has raised $700 million in a series D round of financing co-led by investment firms DST Global and Coatue Management as the startup continues its expansion in the crowded fresh food delivery market.
On March 30, FlashEx, a Chinese logistics startup that provides intra-city express delivery services, raised USD 125 million in the second tranche of a Series D funding round.
This is arguably the world’s largest financing round in the online InsurTech industry so far this year.
Waterdrop Inc. has raised around $200 million to fund its expansion in healthcare crowdfunding, at a valuation of approximately $2 billion.