GGV, Country Garden back CHALI; Sigma Squares Tech wins $ 10 million


Tea brand CHALI closed a new funding round led by venture capital firm GGV Capital, while Sigma Squares Tech raised $ 10 million in a Series A funding round.

GGV, Country Garden invests in CHALI

Guangzhou-headquartered tea brand CHALI pocketed “tens of millions of US dollars” in a funding round led by new investor GGV Capital, the company said on Monday.

WeiVC, a seed and early stage venture capital firm jointly founded in 2011 by Sequoia Capital China, IDG, Sinovation Ventures, Sina and other investors, also participated in the round.

Existing investors CEC Capital and the investment arm of Country Garden property developer, Country Garden Venture Capital, made follow-on investments in the cycle.

In November of last year, Country Garden Venture Capital; CEC Future Industry Fund of the investment bank CEC Capital; and Wens Investment, an investment vehicle of China’s leading livestock and poultry company Wens Foodstuff Group, had injected 100 million yuan ($ 15 million) into CHALI’s Series B cycle.

The tea brand will invest the proceeds from its latest round of funding to improve its tea research and processing capabilities by establishing new centers.

Located in the city of Guangzhou in southeast China, CHALI produces premium tea bags that it claims to have served at more than 7,000 hotels and 2,000 catering groups. Its first funders are JD.com, Ginkgo Gofar Group and Guangdong Culture Industry Investment Fund.

Sigma Squares Tech Wins $ 10 Million in Series A

Beijing-based machine vision solutions developer Sigma Squares Tech said Monday it had raised $ 10 million in a Series A funding round.

The round was led by V Fund, a more than 8 billion yuan ($ 1.2 billion) fund focused on areas such as smart manufacturing, semiconductors, 5G network and IoT, has the investor said in a WeChat article.

Investment firms Guoding Capital, Insight Capital and Entropy Capital also joined the round.

Sigma Squares Tech will invest the proceeds in increasing manufacturing capabilities as well as talent recruitment and business expansion.

Founded in 2018, the company provides full stack cloud vision tools and services. Its Sirius cloud vision platform helps manufacturing companies improve data collection, while Insvis enables the healthcare industry to test devices more effectively, he said.

Sigma had previously closed three other funding rounds from BioTrack Capital, Future Capital and Hongtai Aplus.


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