China Dealbook: Xingyuan Auto, BestSign, Interhouse.cn, Kaochong fundraise

March 6, 2018

Beijing Xingyuan Automotive Information Technology Co., an internet-based provider of services for the auto industry, has raised $79 million in a Series A round of funding led by Qiangwei Holdings, and Guoxing Fund. Other Chinese startups to raise fresh funding include BestSign, Interhouse.cn, and Kaochong, CMN reported.

Xingyuan Auto secures $79m funding

Beijing Xingyuan Automotive Information Technology Co., an internet-based provider of services for the auto industry, has raised $79 million in a Series A round of funding led by Qiangwei Holdings, and Guoxing Fund. Yi Capital and Anda Private Equity also participated in the round. The platform provides car wholesale, marketing, financing, insurance and after-sale services for car makers and dealers. The company will use the funds to expand its network among carmakers, dealers, products and users.

BestSign raises $15.8m Series B

BestSign, an electronic signature and contracts cloud platform, has secured $15.8 million in a Series B round of funding led by Morningside Venture Capital. The financing round also saw participation from previous investors Matrix Partners China, DCM China, Shunwei Capital, and WPS. The fresh funds will be used to enhance blockchain application in the field. The startup mainly offers online contract signing service for Internet finance, commercial real estate, online education, O2O, e-commerce and other sectors.

Hillhouse leads funding in Interhouse.cn

Interhouse.cn, a Beijing-based Building Information Modeling (BIM) solution provider that serves home improvement enterprises, has secured tens of millions of RMB in a Series A round of funding led by Hillhouse Capital, with participation from Danhua Capital. BIM technology can be used in traditional CAD in the walls, floors, ceilings, partitions, etc. out of professional symbols, 3D real components in the form of show, so that project participants can easily understand the design concept, improve communication environment, and improve information.

Tencent leads $20m round in Kaochong

Kaochong, a Beijing-based online English education platform, has raised $20 million in a Series C round of funding led by Tencent Holdings. The startup, which targets Chinese college students, also saw funding participation from Matrix Partners China.