Construction technology platform Dalezhuang has secured over 100 million yuan ($15 million) in a pre-Series A round of financing led by Bertelsmann Asia Investments (BAI), while Sequoia China Seed Fund has led a nearly $10 million pre-Series A round for Lead Digital.
BAI leads over $15m in funding in Dalezhuang
Dalezhuang, a cloud-computing platform for the construction industry, on Monday announced that it has secured over 100 million yuan ($15 million) in a pre-Series A round of financing led by Bertelsmann Asia Investments (BAI).
Investors that joined the round include tech giant Tencent, state-backed China Merchants Capital and supply chain-focused venture capital firm Eastern Bell Capital. Returning investor Oriental Fortune Capital re-upped in the latest round through its small-and-medium (SME) enterprises development sub-fund, per a company statement.
Dalezhuang claims to have completed three rounds of financing within a year. Last year it secured funding from Oriental Fortune Capital in August and K2VC in September.
Armed with the fresh proceeds, Dalezhuang will aim to spruce up its prefabricated building software system and supply chain.
Headquartered in China’s Shenzhen city, Dalezhuang operates a supply chain cloud platform for prefabricated buildings.
Sequoia backs Lead Digital
Lead Digital, a startup that develops intelligent tools and services for the manufacturing industry, has garnered nearly $10 million in a pre-Series A round led by Sequoia China Seed Fund.
Existing investor Linear Capital made a follow-on investment in the round. The investor, along with Yinxinggu Capital, had earlier provided angel funding to Lead Digital, it said in a WeChat post on Monday.
Lead Digital will use the proceeds of its latest funding round to hire more talent and accelerate its research and development efforts.
“The transformation of China’s manufacturing industry is not only dependent on technology, craftsmanship and tool upgrades but also on improving the management efficiency,” said Linear Capital founding partner and CEO Harry Wang.