Chinese startups raise $104.4bn VC funding in 2021
By MYBRANDBOOK
China’s regulatory crackdown on technology giants is not stopping the venture capital (VC) frenzy in the country. The VC market of the country in the wake of evolving regulatory landscape and COVID-19 pandemic surprisingly looks upbeat. Chinese startups raised $104.4bn, a growth of 48.9% year-on-year in 2021, finds GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Financial Deals Database reveals that deal volume too witnessed a staggering 31.9% growth from 3,261 in 2020 to 4,302 in 2021.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Investors seemed to have become wary of China for some time on the back of a series of regulatory crackdowns on domestic companies. However, funding activity picked soon after a brief downturn. The announcement of several big-ticket deals during 2021 reflects investors’ appetite for placing bets on China is still bullish.”
Despite the year-on-year growth, the month-on-month funding trend remained inconsistent throughout 2021. Interestingly, there was a decline in deal volume in December while deal value grew significantly and in fact, it was the best month in terms of value during the year.
In fact, December 2021 alone witnessed announcement of 32 $100 million+ deals while 76 such deals were announced during the last quarter and a total of 262 deals in this range were announced during the year.
Some of the notable VC funding deals announced in China during 2021 include $1.6bn raised by SVOLT Energy in August, $1.5bn capital raised by Horizon Robotics in June, $1.2bn raised by Nanjing Lingxing Technology (T3 Travel) in October, $700m funding raised by Abogen Biosciences in August, and $750m capital raised by Beijing Shihui Technology in March.
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
TEJAS NETWORKS INDIA PVT. LTD.
SAMSUNG INDIA ELECTRONICS LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
PRAMA HIKVISION INDIA PRIVATE LIMITED
Icons Of India : Harsh Jain
Harsh Jain, the co-founder of Dream 11, the largest fantasy sports web...
ICONS OF INDIA : SANJAY NAYAR
Sanjay Nayar is a senior finance professional in the Indian private in...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...