/Tencent bets on online used goods market investing USD 200 M in Zhuan Zhuan, & more

Tencent bets on online used goods market investing USD 200 M in Zhuan Zhuan, & more

Used goods trading platform Zhuan Zhuan receives USD 200 million financing

Zhuan Zhuan

Founder: Yao Jinbo

Founded in: 2015

Financing status: RMB 13.7 billion (USD 200 million) financing in 2017

Zhuan Zhuan is a consumer-to-consumer (C2C) online used goods trading platform where users sell secondhand goods as well as make purchases from other sellers. Launched in 2015 in Beijing, Zhuan Zhuan has so far attracted more than 30 million users with more than 100 million secondhand items on the platform, and reached an average monthly trading volume of nearly USD 290 million.

Zhuan Zhuan received this fund from Tencent. With this collaboration, Tencent will share its knowledge on increasing its user base and improve Zhuan Zhuan’s technological abilities to help accelerate its growth. This puts the company in direct competition with Alibaba’s online used goods trading platform Xianyu which is a top player in the market.

Rehabilitative robotics startup Jianjiao receives USD 4.3 million for pre-Series A round

Photo from Baidu image.
Photo from Baidu image.

Jianjiao

Founder: Li Xiang

Founded in: 2015

Financing status: RMB 30 million (USD 4.3 million) pre-Series A financing in 2017

Jianjiao is a robotics startup that manufactures robots based on artificial intelligence to help rehabilitate patients suffering from diseases and accidental injury. Founded in 2015 in Shanghai, the startup has launched two robotic products mainly for legs and waist rehabilitative training, weighing 11 pounds with a 5-day battery life, which are sufficient to meet general rehabilitative needs.

It wants to achieve an advanced human-computer interaction and intelligent exoskeleton products through artificial intelligence and deep neural network learning technology.

This pre-Series A financing round was from Bojiang Capital, and it plans to increase its investment on the research and development of rehabilitative robots.

(Top photo from Pixabay.com)

Kaikai Shi majored in Biotechnology at Zhejiang University. He now runs the Tech Financing column for AllChinaTech. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.