China Digest: Sequoia leads Tungee round; Little Bear Rental closes Series D1
Summary
Tungee, a Chinese startup that uses big data and AI to provide intelligent sales solutions, has secured 120 million yuan ($17 million) in a Series B round of financing led by Sequoia Capital China, while office IT equipment rental service Little Bear Rental has raised a Series D1 round of financing led by JD.com. Tungee, a Chinese startup that uses big data and AI to provide intelligent sales solutions, has secured 120 million yuan ($17 million) in a Series B round of financing led by Sequoia Capital China with participation from Qiming Venture Partners. The startup plans to use the proceeds from the new round to finance its product R&D, market expansion and brand building, according to a statement. The startup targets to become the Chinese version of ZoomInfo, a Vancouver, Washington-based business-intelligence platform that raised $935 million early June in what was the largest U.S. trading debut for a technology company so far this year. The startup raised tens of millions of yuan in a Series A round from Alibaba and Qiming Venture Partners.