Semiconductor firm Vertilite has pocketed “tens of millions of US dollars” in a Series C3 round of financing, while Tencent-backed logistics provider Yunyou Freight has raised a Series B+ round.
Summitview leads funding in Vertilite
Semiconductor firm Vertilite said on Thursday that it has pocketed “tens of millions of US dollars” in a Series C3 round of financing led by Summitview Capital, an investment firm with a focus on information, advanced manufacturing, and cleantech.
Chinese automotive major BYD and CITIC Private Equity Funds Management (CPE) were new investors participating in the fresh round. Returning investors Gaorong Capital and V-Capital re-upped in the fresh round.
Proceeds from the funding round may be used to shore up technological innovation, and develop automotive electronics, it said in a statement.
Founded in 2015, Vertilite produces high-performing vertical-cavity surface-emitting lasers (VCSELs) for applications across optical communications and optical sensing in biomedical, industrial, automotive, and consumer products.
The company is based in East China’s Changzhou city, and it has set up divisions across US, Korea, Taiwan, and Shanghai.
Vertilite also had the backing of Xiaomi’s Hubei Xiaomi Changjiang Industrial Investment Fund, Huawei’s investment subsidiary Habo Investment, Qianhai FOF, and Hua Capital, among others.
Yunyou Freight secures Series B+ funding
Tencent-backed smart logistics services provider Yunyou Freight has completed a Series B+ round of financing, raising “tens of millions of US dollars” led by 5Y Capital.
The round was joined by new investor Dawn&Shine Capital, a venture capital firm that invests in healthcare, tourism, culture & media, and environment protection. Bluerun Ventures, a returning investor, made follow-on investments.
Investment bank Drift Cloud Capital served as the financial advisor for the deal, per a company statement on Thursday.
Led by Peking University alumnus Jilong Zhou, Yunyou is a B2B platform that promotes digital logistics operation and management. It claims to have served nearly 1,000 companies.
Tencent had partnered Bluerun Ventures, Eastern Bell Capital, and Albatross Venture, pouring a similar-sized sum in Yunyou’s Series B round in April this year. In 2018, Tencent had participated in its Series A round funding.