Crypto trading and mobile banking app hi, automotive charging piles maker Runchengda and IT services provider Canway seal deals.
Animoca Brands injects $30m into crypto payment firm hi
Hong Kong-based gaming software firm and Web3 investment powerhouse Animoca Brands has pumped $30 million into crypto trading and mobile banking app hi, according to an announcement on Thursday.
The investment is part of a partnership that aims to integrate Animoca’s ecosystem with hi’s services to drive mass adoption of Web3. The firm said it will work with Animoca to provide developers with a unique human authentication mechanism.
Founded in January 2021, hi’s mobile app combines the functionality of a crypto exchange and digital bank. Previously, the firm snagged an undisclosed sum from Hashkey, Hashed, and Longling Capital.
So far, hi has completed the pre-registration activities under the supervision of the Hong Kong Securities and Futures Commission (SFC) to secure its license as a Virtual Asset Trading Platform.
Besides Hong Kong, it is registered as a Virtual Assets Service Provider (VASP) in Lithuania, as well as a Virtual Currency Operator with Italy’s payments services regulator, the firm noted.
Runchengda bags $31m in Series B2 round
Shenzhen Runchengda (RCD) Electricity Technology, which is engaged in the manufacture of automotive charging piles equipment, has secured 224 million yuan ($31.3 million) in a Series B2 financing round, the company announced on Wednesday.
The round, joined by state-affiliated Suzhou New District Hi-Tech Industrial, Pingxiang State-Owned Assets Management, as well as local investor Pivot Capital, will help the firm’s overseas expansion, among others. Existing backer Hongtai Aplus re-upped in the round.
Founded in 2010, the Shenzhen-based firm covers alternative current (AC) and direct current (DC) charging piles for electric vehicles, as well as charging equipment and solutions for e-bicycles. It claims to have expanded to Europe, North America, Australia, and the Middle East.
Previously, the firm secured 100 million yuan ($14.5 million) in September 2021 led by Hongtai Aplus, with the participation of Qingdao Taifu Huiying, Ruizhi New Infrastructure, and Yuchen New Infrastructure.
Canway snags almost $28m in Series C round
Guangzhou-based Canway has secured 200 million yuan ($27.9 million) in a Series C funding round led by Eastern Bell Capital.
The firm, also known as Guangzhou Jiawei Technology, will use the proceeds for R&D and product development, according to its release on Thursday.
Founded in 2016, the firm provides DevOps, AIOps, and WeOps solutions to enterprises to accelerate digital transformation. It has a presence in Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Hangzhou, and Nanjing. Previously, the firm bagged 300 million yuan ($46 million) in a Series B round in June 2021 led by HongShan, previously known as Sequoia China.