China Digest: YuceBio gets nearly $43m; Alibaba invests in Helijia, OKKI
Summary
Its earlier investors include Chinese genome sequencing giant BGI Group and BioClub, a medical and healthcare entrepreneurship platform in China. Alibaba has become the largest shareholder of Chinese O2O beauty services app Helijia after the e-commerce giant injected hundreds of millions of yuan into the startup through a strategic investment. Beauty and makeup products are among some the fastest-growing categories on Alibaba’s e-commerce platforms in recent two years, said China Renaissance, the exclusive financial adviser to the deal, in a WeChat post on Tuesday. Chinese cloud computing-based CRM solutions developer OKKI has raised hundreds of millions of yuan in a Series D funding round from Alibaba, according to a statement on Wednesday. Established in March 2013, OKKI is a Software-as-a-Service (SaaS) firm that uses cloud computing, big data and AI to develop CRM solutions for Chinese corporate services enterprises targeting the overseas market.