Feiliu Tech has raised over 200 million yuan ($30 million) in its Series A1 and A2 rounds. In a separate development, Shunwei-backed Rokae has garnered a similar amount in its Series C+ round of financing.
Feiliu Tech raises over $30m
AI-driven apparel supply chain platform Feiliu Tech has garnered over 200 million yuan ($30 million) in its Series A1 and A2 rounds in a span of three months this year, per a company statement on Monday.
The Series A1 round was jointly led by GGV Capital and Chinese internet technology giant ByteDance, while the Series A2 round was exclusively led by Hillhouse Capital’s venture unit GL Ventures.
Its existing investors such as GGV Capital, ByteDance, SBCVC- together with INCE Capital and Wu Capital participated in its Series A2 round. Investment bank Mountain View Capital facilitated the transaction.
SoftBank’s China arm SBCVC had made an undisclosed investment in Feiliu in its pre-Series A round in 2020.
Headquartered in Shanghai, Feiliu Tech is a B2B platform that provides an all-in-one supply chain solution for the apparel industry, especially for women’s clothing.
Feiliu has also been backed by K2VC, Qingsong Fund, internet-focused Albatross Venture and tech-innovation-based SkyChee.
Shenzhen Capital leads $30m funding in Rokae
Rokae, a lightweight robot specialist backed by Xiaomi’s Shunwei Capital, has raised 200 million yuan ($30 million) in its Series C+ round of financing, per an announcement.
The round saw the participation of state-backed Shenzhen Capital Group and Grand Flight Investment, a sub-fund of Hong Kong-listed Far East Horizon.
With this, the total funding raised by Rokae in its Series C round stands at over 300 million yuan ($47 million).
Proceeds of the new funding round will be used for product R&D, sales and marketing activity, as well as commercialization advancement.
Rokae is based in Beijing and operates in 12 countries including Germany, France, Russia, Japan and Korea.
In 2018, Shunwei Capital along with GSR Ventures, Plum Ventures, THG Ventures and Nanchang Xinshiji Benture Capital, had pumped in 160 million yuan ($25 million) in Rokae’s Series B round.