Hillhouse Investment Group

Hillhouse Investment Group, founded in 2005 and headquartered in Hong Kong, is a private equity firm that specializes in a wide range of investments, from seed funding to buyouts and listed equities. The firm primarily focuses on opportunities in Asia but also selectively invests in North America and Europe. Hillhouse’s investment strategy is stage-agnostic, allowing it to invest in companies at various stages of growth, from startups to established public entities. Its portfolio spans several sectors, including consumer, technology, media, telecommunications, healthcare, energy transition, and advanced manufacturing. In healthcare, Hillhouse emphasizes biotechnology, medical devices, and pharmaceuticals. The firm is recognized for its commitment to independent research and employs sector experts to guide its investment decisions, aiming for long-term results rather than short-term gains.

David Rhee

Partner

Michael Yi

Partner

Past deals in Late Venture Stage

SceneRay

Series D in 2022
SceneRay Corporation, Limited is a medical device company based in Suzhou, China, specializing in the design, development, and distribution of neuromodulation devices. The company offers a range of products, including a deep brain stimulation system that features an implantable neuro-stimulator, patient controller, and various accessories. Additionally, SceneRay develops spinal cord stimulation and sacral nerve stimulation systems. The team at SceneRay comprises experts with extensive experience in neuromodulation device development, manufacturing, and marketing, and the company holds numerous patents in this field. Committed to advancing neuromodulation solutions, SceneRay aims to provide patients with high-quality and effective treatments.

Sobot Technologies

Series D in 2022
Sobot Technologies specializes in developing artificial intelligence-based customer care solutions. The company provides a range of services, including online customer service robots, intelligent call-in robots, manual online customer services, intelligent outbound robots, cloud call centers, and work order systems. Additionally, Sobot offers customer service applications, call integration, localized deployment, and human resource operation management services. The firm caters to various industries, such as education and training, e-commerce, corporate services, domestic services, game entertainment, and banking. Founded in 2012, Sobot Technologies is headquartered in Beijing, China.

Harmay

Series D in 2022
Beijing Harmay Lexiang Technology Co., Ltd. manufactures and sells cosmetics and skin care products. The company distributes skin and beauty care products of other brands, such as ICONIC LONDON, dermalogica, BOTANIST, and SG79|STHLM. It sells its products through its stores in Shanghai, Beijing, and Chengdu, China; and Hong Kong. Beijing Harmay Lexiang Technology Co., Ltd. was founded in 2013 and is based in Beijing, China.

Medical Data System

Venture Round in 2021
Thousand Oaks Biopharmaceuticals, Inc. is a biotechnology company based in Haimen, China, specializing in contract development and manufacturing services for the biopharmaceutical industry. Established in 2017, the company focuses on developing biopharmaceutical technologies that enhance the production of protein and vaccine compounds. It offers integrated control solutions designed to optimize production processes, improve protein expression, and reduce production scale. Additionally, Thousand Oaks provides personalized, chemically-defined cell culture media, formula production, technical support, and ancillary services to its clients. The company also operates a healthcare receivable management platform that enhances patient collections, reduces operational costs, and increases revenue for healthcare providers through effective revenue cycle management and technology-driven solutions.

Hesai Technology

Series D in 2021
Hesai Technology specializes in the design and manufacture of laser sensors, particularly focusing on LiDAR technology. Founded in 2013 and headquartered in Shanghai, China, the company provides advanced sensing solutions for autonomous vehicles and various robotic applications, including last-mile delivery and industrial automation. Their products also include gas leak detection systems, which help monitor mixed gas compositions and identify hazardous leaks in the natural gas industry. With a strong emphasis on innovation, Hesai Technology supports the development of advanced driver assistance systems (ADAS) and autonomous mobility solutions, serving a diverse range of industries by enhancing safety and efficiency through smart sensing technology.

Paraview Software

Series D in 2021
Shanghai Paraview Software Co., Ltd. is a provider of identity security and big data solutions based in China. Founded in 2008, the company offers a range of products including ParaSecure ESC for unified identity management, ParaSecure OSC for privileged account management, and ParaSecure MFA for multi-factor authentication. Paraview also provides big data analytics solutions such as ParaAnalytics LA for log analysis and ParaAnalytics BDM for big data management. Its offerings extend to operational security solutions for IT management and unique identity authentication systems tailored for various sectors, including retail, education, healthcare, and finance. Additionally, the company delivers consulting and implementation services to support digital transformation and enhance operational efficiency for enterprises. With offices in major cities like Beijing, Guangzhou, Changchun, and Wuhan, Paraview aims to assist organizations in navigating the complexities of digitalization and cybersecurity.

HeyTea

Series D in 2021
HeyTea is a Chinese tea shop that specializes in innovative beverages, particularly cheese-topped tea and fruit tea. Founded in 2012 in a riverside alley, it initially operated under the name ROYALTEA before rebranding to HeyTea. The franchise offers a diverse range of products, including instant milk, fruit, and traditional Chinese teas, allowing customers to experience unique blends of flavors. Through its creative approach to tea, HeyTea has positioned itself as a prominent player in the beverage market, appealing to a broad audience seeking new and distinctive taste experiences.

Kurly

Series F in 2021
Kurly Inc. operates an online premium grocery service based in Seoul, South Korea, specializing in the retail of food products. The company offers a wide range of items including fresh vegetables, fruits, cereals, fish, meat, eggs, seasonings, baked goods, and processed foods, all sourced directly from producers. Founded in 2014, Kurly enables customers to order high-quality ingredients through its platform and ensures next-day delivery, emphasizing freshness and quality. The service caters to consumers seeking premium food options, including fresh desserts and various condiments.

Kurly

Series F in 2021
Kurly Inc. operates an online premium grocery service based in Seoul, South Korea, specializing in the retail of food products. The company offers a wide range of items including fresh vegetables, fruits, cereals, fish, meat, eggs, seasonings, baked goods, and processed foods, all sourced directly from producers. Founded in 2014, Kurly enables customers to order high-quality ingredients through its platform and ensures next-day delivery, emphasizing freshness and quality. The service caters to consumers seeking premium food options, including fresh desserts and various condiments.

Xiaoe Tech

Series D in 2021
Shenzhen Xiaoe Network Technology Co., Ltd. specializes in software development for education and content payment technologies. Established in 2016 and based in Shenzhen, China, the company offers a range of products, including enterprise internal training solutions, PaaS cloud services, and SaaS tools for media companies and content creators. Xiaoe Tech focuses on enabling knowledge monetization through its platforms, providing services such as content traffic distribution, business academies, and conference systems. Its offerings assist content entrepreneurs and educational institutions in managing customer relationships and enhancing operational efficiency. By integrating tools, data, and resources, Xiaoe Tech supports various industries in achieving effective brand communication, traffic growth, and comprehensive business monetization.

XAG

Series E in 2021
XAG Co., Ltd. designs and develops drones, robots, autonomous driving solution, and artificial intelligence (AI) based equipment for agricultural industry. The company offers unmanned aerial vehicle (UAV) equipment for various types of applications, such as model aircraft for weekend hobbyists and large-scale professional UAVs for commercial and industrial applications. The company offers aerial imaging and monitoring products, including flight control systems, multi-task weatherproof UAV systems, brushless gimbals, and frames; and commercial UAVs for lifting and logistics applications. Its commercial and industrial products and services are used for low-altitude airspace logistics, police force assistance, medical rescue assistance, forest fire prevention, geological prospecting, aerial photography, surveying, and arctic expedition. The company was founded in 2007 and is based in Guangzhou, China.

Energy Monster

Series D in 2021
Energy Monster is a power bank rental service that enables users to rent power banks conveniently by scanning a QR code. The company aims to provide uninterrupted mobile device usage across various locations. Operating in 100 cities and partnering with approximately 100,000 merchants, Energy Monster places its power banks in points of interest such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces. Users can easily rent a power bank through mobile applications and return it at any participating location, leveraging the company's extensive network and advanced technology. Energy Monster is a subsidiary of Shanghai Zhi Technology.

Lalamove

Series F in 2021
Lalamove, originally known as EasyVan, was established in Hong Kong in December 2013 to address the demand for efficient van hire services. The company operates in 21 markets across Asia and Latin America, connecting over 7 million customers with a network of more than 700,000 driver-partners. Lalamove's on-demand logistics platform facilitates instant matching between customers and drivers, enabling same-day deliveries with an impressive average fulfillment time of just 55 minutes. The platform offers van-hailing and courier services, allowing customers to track their deliveries in real time and rate their drivers. By optimizing routes and fleets, Lalamove enhances the earning potential for drivers while providing reliable and swift delivery solutions for businesses and individuals alike.

Keep

Series F in 2021
Keep is a young team that loves sports and is also a group of Geeks who pursue the ultimate experience. They focus on application development in the field of mobile sports, advocate the spirit of open sharing, do not imitate, do not follow suit, and only do cool products. In the age of their lives, the fitness culture is awakening, there should be more professional tools, a more pure community, and make the body easier. This is what Keep is doing. They hope that through technology-driven, more people will love fitness and enjoy sports.

Lalamove

Series E in 2020
Lalamove, originally known as EasyVan, was established in Hong Kong in December 2013 to address the demand for efficient van hire services. The company operates in 21 markets across Asia and Latin America, connecting over 7 million customers with a network of more than 700,000 driver-partners. Lalamove's on-demand logistics platform facilitates instant matching between customers and drivers, enabling same-day deliveries with an impressive average fulfillment time of just 55 minutes. The platform offers van-hailing and courier services, allowing customers to track their deliveries in real time and rate their drivers. By optimizing routes and fleets, Lalamove enhances the earning potential for drivers while providing reliable and swift delivery solutions for businesses and individuals alike.

Codemao

Series D in 2020
Codemao is an online education platform that teaches children about computer coding. The programming cat is a graphic programming tool platform developed by Shenzhen Point Cat Technology Co., Ltd. It is designed based on the learning characteristics of children and the concept of modern Chinese education. It adopts a different way of creating graphical programming modules than traditional codes and edutainment education concepts through interesting gamification courses and language. The combination of digital and other disciplines allows children to master knowledge in games, quickly understand programming concepts, and exercise their children's logical thinking ability and innovative practical ability. IN 2015, the Shenzhen, Guangdong-based company was established by Tianchi Li and Yue Sun.

Cytek

Series D in 2020
Cytek Biosciences, Inc. specializes in manufacturing and selling innovative flow cytometry tools and equipment for cancer and cell biology research. The company offers advanced instruments such as the Cytek Aurora and Cytek Northern Lights, which are full-spectrum flow cytometers designed for high-resolution and high-sensitivity cell analysis. Additionally, Cytek provides the DxP Athena system, which utilizes its proprietary technology to resolve dim populations in multicolor formats, along with the QbSure quality control program to ensure optimal performance of cytometers. The company also develops proprietary cFluor reagents that enhance the performance of its instruments in complex multicolor environments. Headquartered in Fremont, California, Cytek has expanded its global presence with locations in Maryland, the Netherlands, Japan, and China, aiming to make flow cytometry more accessible for researchers and clinicians worldwide.

GeneCast Biotechnology

Series E in 2020
GeneCast Biotechnology Co., Ltd. is a Beijing-based company founded in 2014 that specializes in gene research and the development of advanced cancer diagnostic solutions. The company offers a technology platform for cell-free DNA next-generation sequencing (NGS) tests, which are used for companion diagnostics, genetic profiling, prognosis, and monitoring of various solid tumors, including lung, colorectal, liver, and breast cancers. GeneCast provides non-invasive and precise tumor diagnoses and personalized treatment guidance, leveraging high-throughput sequencing and bioinformatics. The company collaborates with hospitals and research institutions to enhance cancer treatment and genetic testing, aiming to improve patient outcomes and quality of life. GeneCast is also focused on advancing its research and clinical trials while expanding its distribution channels.

Delta Medical

Series D in 2020
Beijing Delta Medical Co., Ltd. specializes in the design and manufacture of orthopedic surgical instruments and rehabilitation products. The company offers a range of products, including shoulder arthroscopic instruments, various types of suture anchors, instruments for anterior and posterior cruciate ligament reconstruction, interference screws, and shaver systems. In addition to its surgical instruments, Delta Medical provides sports rehabilitation services. The company is headquartered in Beijing, China, and focuses on delivering innovative solutions in sports medicine.

Yuanfudao

Series G in 2020
Founded in 2012, Yuanfudao is the largest online live courseplatform servicing primary and secondary school students in China. With a paying userbase of over 1 million, Yuanfudao offers a comprehensive curriculum spanning fromprimary school English, Mathematical Olympiad to all-subject courses in secondaryschool. Its unique online feature and large pool of quality teachers enable students toaccess live online tutoring at home taught by national renowned teachers, benefitinghundreds of thousands of students across the country.

ASR Microelectronics

Series D in 2020
ASR Microelectronics (Shanghai) Co., Ltd. is a semiconductor manufacturer founded in April 2015 and headquartered in Shanghai, China, specifically in the Zhangjiang Hi-Tech Park. The company specializes in developing chips for mobile intelligent communication terminals, navigation systems, and other consumer electronics. Its product range includes smartphones, modems, and integrated systems on chip (SoC) that support various communication standards, including 2G, 3G, and 4G. ASR boasts a dedicated research and development team located in the United States and South Korea, focusing on platform development and technical support. In 2017, ASR expanded its capabilities by acquiring the Mobile Business Unit from Marvell, positioning itself as a leading baseband provider in China, alongside Hisilicon. The company's significant shareholders include several venture capital firms, highlighting its strong financial backing and commitment to advancing technology in the mobile communications and Internet of Things sectors.

Airwallex

Series D in 2020
Airwallex is a technology company based in Hong Kong that specializes in providing a global payments and financial platform. Its services facilitate international transactions for businesses of all sizes, allowing them to make and receive payments efficiently and cost-effectively. By integrating advanced technology with a comprehensive ecosystem of application programming interfaces, Airwallex streamlines financial processes, enabling clients to issue and pay invoices in their preferred currency at competitive exchange rates. The platform addresses the complexities of the traditional financial system, helping businesses save time and reduce costs while expanding their operations both domestically and internationally. With a focus on empowering companies to thrive in a borderless digital economy, Airwallex plays a significant role in enhancing global commerce.

Kurly

Series E in 2020
Kurly Inc. operates an online premium grocery service based in Seoul, South Korea, specializing in the retail of food products. The company offers a wide range of items including fresh vegetables, fruits, cereals, fish, meat, eggs, seasonings, baked goods, and processed foods, all sourced directly from producers. Founded in 2014, Kurly enables customers to order high-quality ingredients through its platform and ensures next-day delivery, emphasizing freshness and quality. The service caters to consumers seeking premium food options, including fresh desserts and various condiments.

Yuanfudao

Series G in 2020
Founded in 2012, Yuanfudao is the largest online live courseplatform servicing primary and secondary school students in China. With a paying userbase of over 1 million, Yuanfudao offers a comprehensive curriculum spanning fromprimary school English, Mathematical Olympiad to all-subject courses in secondaryschool. Its unique online feature and large pool of quality teachers enable students toaccess live online tutoring at home taught by national renowned teachers, benefitinghundreds of thousands of students across the country.

HeyTea

Series D in 2020
HeyTea is a Chinese tea shop that specializes in innovative beverages, particularly cheese-topped tea and fruit tea. Founded in 2012 in a riverside alley, it initially operated under the name ROYALTEA before rebranding to HeyTea. The franchise offers a diverse range of products, including instant milk, fruit, and traditional Chinese teas, allowing customers to experience unique blends of flavors. Through its creative approach to tea, HeyTea has positioned itself as a prominent player in the beverage market, appealing to a broad audience seeking new and distinctive taste experiences.

Ke.com

Series D in 2020
KE Holdings Inc. operates an integrated online and offline platform for housing transactions and services in China. Founded in 2001 and headquartered in Beijing, the company facilitates a range of housing-related activities, including the sale and rental of existing and new homes, home renovation, and real estate financial solutions. It owns Lianjia, a prominent real estate brokerage brand. In 2018, the company launched Beike, a technology-driven multi-service property platform aimed at enhancing user experience and supporting real estate agents. Beike serves as an open platform that connects accredited partners with resources to create a high-quality ecosystem for second-hand, new, and rental properties. The platform also addresses the needs of Chinese families seeking overseas properties, covering 11 countries with over 10,000 listings. KE Holdings aims to expand its reach across more than 300 cities in China and to establish a robust network of partners and agents to serve millions of households.

HIPAC

Series D in 2019
Hipac.cn is a Hangzhou-based cross-border online shopping platform focusing on baby and maternal products.

CarDekho

Series D in 2019
CarDekho provides enterprise mobility solutions, mobile application development, Web design and development, offshore staffing, and testing and quality assurance (QA) services. Its enterprise mobility solutions include enterprise mobility consulting, mobile business intelligence, business process mobilization, B2B mobile applications (app) development, enterprise iOS app development, enterprise Android app development, and enterprise app distribution; and mobile app development services include iPhone, iPad, Android, Blackberry, Windows8, Phonegap, and bootstrap. CarDekho’s Web design and development services include responsive design, PSD to HTML conversion, flash Website design, themes customization, content management system, E-commerce solution, CRM app development, open-source development, custom Web app development, regular Website maintenance, customized programming, online marketing, graphic design, Website hosting, employee management system, logo design, inventory management, and database design. Its offshore staffing services for designers, mobile apps developers,.NET developers, PHP developers, Java developers, Python developers, and ROR developers; and testing and QA services include automated, manual, usability, nonfunctional, specialized, mobile app, testing-as-a-service, integration, functional, system, localization, and acceptance testing. CarDekho develops entertainment, GPS tracking, weather, business and finance related, multi-media, sports, social networking, education, and travel applications. It serves the automobile, E-learning, consultancy, finance, social networking, tours and travel, health and fitness, medical, job and career, news and magazine, utility/productivity, entertainment, lifestyle, and Ecommerce industries; and IT and communication, and book and library industries. Amit and Anurag Jain founded CarDekho in 2007. It has its headquarters in Jaipur in India.

Kujiale

Series D in 2019
Kujiale is an online platform based in Hangzhou, China, that specializes in home decoration and furnishing design. Founded by Hang Chen, the platform allows users to easily generate design sketches and visualize their interior design choices through advanced technologies such as augmented reality and virtual reality. Kujiale's software enables the creation of 3D models, texture swapping, and detailed floor planning, providing users with a comprehensive tool for designing and furnishing their homes. The platform also offers information and reviews related to the home decor industry, enhancing the user experience with valuable insights and resources.

Udaan

Series D in 2019
Udaan is a B2B trade platform that brings manufacturers, traders, retailers, and wholesalers into a single platform. The platform is about making business easy in India, about making B2B commerce convenient and efficient. They believe B2B is the new B2C in India. It connects retailers with wholesalers and traders who sell more than 15 lakh products ranging across categories from electronics and apparel to grocery and fresh produce. Udaan chat feature allows you to have a personal and secure conversation in real-time, in a language of your choice. It enables a direct connection between buyers & sellers which allows one-on-one discussions to negotiate terms of trade between transacting parties. India has 50m+ SMBs, who form the core of the Indian economy and society. They are the entrepreneurial pulse of India. They believe the internet is a great equalizing platform. They want to bring their energies together in bringing the power of the Internet to these millions of entrepreneurs. Udaan was founded in 2016 and is headquartered in Bangalore, Karnataka, India.

Ke.com

Series D in 2019
KE Holdings Inc. operates an integrated online and offline platform for housing transactions and services in China. Founded in 2001 and headquartered in Beijing, the company facilitates a range of housing-related activities, including the sale and rental of existing and new homes, home renovation, and real estate financial solutions. It owns Lianjia, a prominent real estate brokerage brand. In 2018, the company launched Beike, a technology-driven multi-service property platform aimed at enhancing user experience and supporting real estate agents. Beike serves as an open platform that connects accredited partners with resources to create a high-quality ecosystem for second-hand, new, and rental properties. The platform also addresses the needs of Chinese families seeking overseas properties, covering 11 countries with over 10,000 listings. KE Holdings aims to expand its reach across more than 300 cities in China and to establish a robust network of partners and agents to serve millions of households.

Jinxin Fertility

Series F in 2019
Jinxin Fertility Group Limited provides assisted reproductive services (ARS) in China and the United States. The company primarily offers its patients with two treatment solutions, including artificial insemination, which can be performed with either husband’s sperm or a donor sperm; and IVF technology, whereby fertilization is achieved through conventional in vitro fertilization and embryo transfer or IVF with intracytoplasmic sperm injection. It also provides related services, such as nutrition guidance, Chinese medicine treatment, and psychological counseling to support the ARS. In addition, the company offers management services; medical services in the areas of gynecology, urology, and internal medicine; ambulatory surgery centre facilities services; and ancillary medical services. Jinxin Fertility Group Limited was founded in 2003 and is headquartered in Chengdu, China.

Kurly

Series D in 2019
Kurly Inc. operates an online premium grocery service based in Seoul, South Korea, specializing in the retail of food products. The company offers a wide range of items including fresh vegetables, fruits, cereals, fish, meat, eggs, seasonings, baked goods, and processed foods, all sourced directly from producers. Founded in 2014, Kurly enables customers to order high-quality ingredients through its platform and ensures next-day delivery, emphasizing freshness and quality. The service caters to consumers seeking premium food options, including fresh desserts and various condiments.

Trumid

Series D in 2019
Trumid Financial LLC is a financial technology company that specializes in electronic trading solutions for the corporate bond market. Founded in 2014 and based in New York City, Trumid operates the Trumid Market Center, an electronic trading network that connects market professionals to a wide array of liquidity sources. This platform enhances trading efficiency through various protocols and an intuitive design that integrates seamlessly into traders' workflows. Trumid also offers Trumid Bond Stream, which provides real-time TRACE pricing data, and Trumid Labs, which utilizes data science to enhance network management and facilitate bond price lookups. Through its innovative technologies and product offerings, Trumid aims to improve transparency, liquidity, and trade execution in the credit trading space.

Huolala

Series D in 2019
Huolala offers logistics services, moving, less-than-truckload, car rental and sales, and after-car services. Founded in 2013 and grown in the Guangdong-Hong Kong-Macao Greater Bay Area.

Lalamove

Series D in 2019
Lalamove, originally known as EasyVan, was established in Hong Kong in December 2013 to address the demand for efficient van hire services. The company operates in 21 markets across Asia and Latin America, connecting over 7 million customers with a network of more than 700,000 driver-partners. Lalamove's on-demand logistics platform facilitates instant matching between customers and drivers, enabling same-day deliveries with an impressive average fulfillment time of just 55 minutes. The platform offers van-hailing and courier services, allowing customers to track their deliveries in real time and rate their drivers. By optimizing routes and fleets, Lalamove enhances the earning potential for drivers while providing reliable and swift delivery solutions for businesses and individuals alike.

Woowa Bros

Series G in 2018
WOOWA BROS (우아한형제들) is a Korean developer of smartphone applications and advertising platforms. Its service portfolio also includes local marketing and web services solutions and products, such as a sports events app and a food delivery app. WOOWA BROS was established in March 2011 in Seoul, Korea.

Swiggy

Series H in 2018
Swiggy is an on-demand food delivery platform that connects users with local restaurants, allowing them to order food conveniently through a mobile app. Founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini, the company is headquartered in Bangalore, Karnataka, India. Swiggy offers a comprehensive list of nearby restaurants and their menus, enabling users to track their orders in real-time. In addition to food delivery, Swiggy also provides services for picking up and dropping off various items, such as laundry and parcels, catering to both business clients and retail customers. The platform emphasizes speed and convenience, ensuring that users receive their food fresh and on time, often accompanied by discounts.

Omio

Series D in 2018
Omio operates a multi-modal travel booking platform that enables users to find and compare travel options by train, bus, and flight across Europe, the United States, and Canada. Founded in 2012 and based in Berlin, Germany, the platform is designed to help travelers identify the fastest, cheapest, and most convenient routes to their desired destinations. By integrating various data sources, Omio offers a comprehensive search tool that suggests nearby airports and train routes while estimating total travel time. Users can visualize and compare different travel options through a comparative chart that highlights cost and duration, facilitating informed long-distance travel planning. The platform focuses solely on long-distance travel, excluding urban public transport options.

Meicai

Series F in 2018
Meicai operates an online platform that connects farmers directly with restaurants, effectively streamlining the agricultural supply chain. By eliminating middlemen, the platform allows businesses to order fresh produce directly from farms, facilitating a more efficient distribution process. This model not only benefits restaurants by providing access to high-quality agricultural products but also supports farmers by enabling them to sell their vegetables directly to end-users. Through its innovative approach, Meicai aims to enhance the fresh food marketplace and improve the overall dynamics of agricultural distribution.

Kaochong

Series D in 2018
Kaochong is an online education platform that specializes in providing preparation courses for various English proficiency tests, including the College English Test (CET), IELTS, and TOEFL. The platform collaborates with experienced instructors to offer a range of training resources tailored to major examinations and practical tests, such as post-graduate exams and civil service qualification tests. By focusing on in-depth study materials and diverse preparatory classes, Kaochong aims to support students in achieving their academic and professional goals.

Innovent Biologics

Series E in 2018
Innovent Biologics, Inc. is a prominent biopharmaceutical company based in Suzhou, China, specializing in the discovery, development, manufacture, and commercialization of monoclonal antibody drug candidates. The company focuses on various therapeutic areas, including oncology, ophthalmology, immunology, and metabolic diseases. Its flagship product, Tyvyt (sintilimab), is an anti-PD-1 monoclonal antibody used in treating multiple cancers and is featured on the National Reimbursement Drug List. Innovent has developed several other promising candidates, including biosimilars and bispecific antibodies for conditions such as non-Hodgkin’s lymphoma, autoimmune diseases, and advanced solid tumors. The company has established strategic collaborations with major global pharmaceutical firms, enhancing its research and development capabilities. Founded in 2011, Innovent has a strong management team with extensive experience in biologics, and it continues to expand its portfolio of therapeutic options while maintaining a commitment to innovation in the biopharmaceutical industry.

Mafengwo

Series D in 2017
Beijing Mafengwo Network Technology Co., Ltd. operates a comprehensive travel platform that provides information on both domestic and international travel destinations. Founded in 2006, the company allows users to share their travel experiences through a social networking site, featuring over one million user-generated travel guides and more than five million ratings and reviews. Mafengwo offers a wide range of services, including travel route planning, hotel bookings, and essential travel information such as visa requirements and insurance. The platform also emphasizes user engagement and continuously enhances its features to improve the sharing of travel-related content. With a core product encompassing a vast array of global destinations, Mafengwo has achieved over 100 million downloads of its travel guides and serves millions of users annually. The company has integrated various booking services, partnering with established platforms to streamline the travel planning process. Based in Beijing, Mafengwo is dedicated to enhancing the travel experience through accessible and comprehensive resources.

Arrail Dental Clinic

Series D in 2017
Arrail Dental Clinic, founded in 1998 and based in Beijing, China, specializes in a comprehensive range of oral health care services. The clinic offers treatments in various areas including endodontics, general dentistry, implants, orthodontics, pediatric dentistry, prosthodontics, and periodontics. Additional services encompass toothache treatment, restoration, tooth whitening, elderly teeth care, and hygiene. With thirty branches established in major cities such as Beijing, Shanghai, Shenzhen, Guangzhou, Xiamen, Hangzhou, and Tianjin, Arrail Dental Clinic caters to both domestic and international clients. The clinic also facilitates online appointment services, enhancing accessibility for patients.

Mobike

Series E in 2017
Meituan Bike (formerly Mobike) is a Chinese fully station-less bicycle-sharing system. It develops mobile apps for users to find and use bicycles to travel anywhere. Davis Wang Xiao Feng, Hu Wei Wei, and Xia Yi Ping founded Mobike on January 27, 2015, with its headquarters in Beijing, China. Mobike raised $600 million in Series E funding led by Tencent, bringing the firm's fundraising in 2017 alone to nearly US$1 billion in June 2017. It became worth US$3 billion in the same month. Chinese web company Meituan-Dianping acquired Mobike for US$2.7 billion in April 2018. Parent company Meituan-Dianping announced name change from Mobike to Meituan Bike on January 23, 2019 as part of an ongoing integration.

Sea

Series E in 2017
Sea Limited is an internet platform company headquartered in Singapore, primarily focused on the Greater Southeast Asia region, including countries like Indonesia, Vietnam, and Thailand. Founded in 2009, Sea operates three main business segments: digital entertainment, e-commerce, and digital financial services. Its Garena platform offers access to a wide range of mobile and PC online games, eSports operations, and various entertainment content, fostering a vibrant community through features like livestreaming and user forums. The Shopee platform serves as a mobile-centric e-commerce marketplace, providing integrated payment and logistics solutions to sellers. Additionally, SeaMoney delivers digital financial services, including e-wallets and payment processing, enhancing financial accessibility for individuals and businesses. Sea's mission is to improve the lives of consumers and small businesses in its region through technology, reflecting its commitment to connect users and promote growth in Southeast Asia.

Dida Chuxing

Series D in 2017
Provider of a mobile ride-hailing application designed to match customers with local drivers in China. The company's platform offers various kinds of ride sharing services that enable the users to place their destination through the mobile application and also offers regular taxi services, enabling clients to efficiently to improve riding experience.

iQIYI

Series G in 2017
iQIYI, Inc. is a leading online entertainment provider in China, offering a diverse range of services including internet video, online games, live broadcasting, online literature, animations, and e-commerce. The platform features a vast library of licensed and self-produced video content, catering to the preferences of its users. Additionally, iQIYI provides membership options, content distribution, and online advertising services. The company operates various subsidiaries, including iQIYI Mall, which focuses on entertainment-related merchandise, and iQIYI Show, a live broadcasting service that connects users with popular hosts and celebrities. iQIYI Paopao serves as an entertainment-based social media platform, while the company also engages in talent agency and intellectual property licensing. Founded in 2009 and headquartered in Beijing, iQIYI was formerly known as Qiyi.com and rebranded in 2011. The company is a subsidiary of Baidu Holdings Limited and continues to compete with other major platforms in the industry.

Uxin

Series D in 2017
Uxin Limited operates a used car e-commerce platform in China, providing a comprehensive range of services for both individual consumers and businesses. Through its Uxin Used Car application, the company offers customized car recommendations, financing options, title transfer, delivery, insurance referrals, warranties, and other related services. Additionally, it runs Uxin Auction, which assists business buyers in sourcing vehicles through online auctions. Uxin facilitates used car transactions and collaborates with third-party financing partners to provide financing solutions for buyers. Founded in 2011 and headquartered in Beijing, Uxin aims to streamline the used car purchasing process in China.

Mobike

Series D in 2017
Meituan Bike (formerly Mobike) is a Chinese fully station-less bicycle-sharing system. It develops mobile apps for users to find and use bicycles to travel anywhere. Davis Wang Xiao Feng, Hu Wei Wei, and Xia Yi Ping founded Mobike on January 27, 2015, with its headquarters in Beijing, China. Mobike raised $600 million in Series E funding led by Tencent, bringing the firm's fundraising in 2017 alone to nearly US$1 billion in June 2017. It became worth US$3 billion in the same month. Chinese web company Meituan-Dianping acquired Mobike for US$2.7 billion in April 2018. Parent company Meituan-Dianping announced name change from Mobike to Meituan Bike on January 23, 2019 as part of an ongoing integration.

Innovent Biologics

Series D in 2016
Innovent Biologics, Inc. is a prominent biopharmaceutical company based in Suzhou, China, specializing in the discovery, development, manufacture, and commercialization of monoclonal antibody drug candidates. The company focuses on various therapeutic areas, including oncology, ophthalmology, immunology, and metabolic diseases. Its flagship product, Tyvyt (sintilimab), is an anti-PD-1 monoclonal antibody used in treating multiple cancers and is featured on the National Reimbursement Drug List. Innovent has developed several other promising candidates, including biosimilars and bispecific antibodies for conditions such as non-Hodgkin’s lymphoma, autoimmune diseases, and advanced solid tumors. The company has established strategic collaborations with major global pharmaceutical firms, enhancing its research and development capabilities. Founded in 2011, Innovent has a strong management team with extensive experience in biologics, and it continues to expand its portfolio of therapeutic options while maintaining a commitment to innovation in the biopharmaceutical industry.

Woowa Bros

Series E in 2016
WOOWA BROS (우아한형제들) is a Korean developer of smartphone applications and advertising platforms. Its service portfolio also includes local marketing and web services solutions and products, such as a sports events app and a food delivery app. WOOWA BROS was established in March 2011 in Seoul, Korea.

Woowa Bros

Series E in 2016
WOOWA BROS (우아한형제들) is a Korean developer of smartphone applications and advertising platforms. Its service portfolio also includes local marketing and web services solutions and products, such as a sports events app and a food delivery app. WOOWA BROS was established in March 2011 in Seoul, Korea.

FXiaoKe

Series E in 2016
FXiaoKe is a Beijing-based company that specializes in cloud-based sales management solutions for Chinese businesses, particularly targeting small and medium-sized enterprises. Established in December 2011 by Luo Xu, the company provides a comprehensive platform that integrates field operation management, distribution chain management, and customer relationship management. FXiaoKe's software enables businesses to enhance their sales processes through a social interaction platform that merges features of dynamic customer relationship management with capabilities akin to enterprise WeChat. The platform supports collaboration across various sectors, including high-tech industries, corporate services, fast-moving consumer goods, agriculture, and large-scale manufacturing, facilitating efficient marketing, sales, and service operations. Additionally, FXiaoKe offers online office automation services that allow seamless information sharing between personal computers and smartphones, further enhancing customer management.

Apellis Pharmaceuticals

Series D in 2016
Apellis Pharmaceuticals is a clinical-stage biopharmaceutical company based in Waltham, Massachusetts, dedicated to developing therapeutic compounds that inhibit the complement system to address autoimmune and inflammatory diseases. The company's lead candidate, pegcetacoplan, is undergoing Phase III clinical trials for geographic atrophy associated with age-related macular degeneration and paroxysmal nocturnal hemoglobinuria, while also being assessed in Phase II trials for several other conditions, including cold agglutinin disease and lupus nephritis. Additionally, Apellis is developing APL-9, which is currently in Phase I clinical trials aimed at preventing immune activation related to adeno-associated virus. The company collaborates with Swedish Orphan Biovitrum AB to advance pegcetacoplan for various rare diseases. Founded in 2009, Apellis focuses on creating innovative therapies for conditions characterized by excessive activation of the complement cascade across multiple medical fields, including hematology and ophthalmology.

Iwjw

Series E in 2015
Iwjw is a company that provides an online platform for house rental services, facilitating a connection between prospective clients and property listings. The platform allows users to book appointments for in-person visits to various properties. Founded in 2014, Iwjw is headquartered in Shanghai, China, and focuses on enhancing the rental experience by bridging online searches with offline property viewing.

Airbnb

Series E in 2015
Airbnb is a global platform that facilitates the booking of unique accommodations and experiences, connecting hosts with guests through its website and mobile applications. Founded in 2007 and headquartered in San Francisco, the company allows users to discover a diverse range of listings, including private rooms, luxury villas, and unconventional spaces such as castles and sailboats. With over 8 million active listings in more than 65,000 cities across 191 countries, Airbnb serves a wide array of travelers seeking authentic experiences at various price points. The company's revenue primarily comes from transaction fees associated with online bookings, with a significant portion generated from North America. By streamlining the process of listing and reserving accommodations, Airbnb has established itself as a leading alternative accommodation provider in the travel industry.

Meituan

Series D in 2015
Meituan is a leading e-commerce platform in China, primarily known for its extensive range of services, which includes food delivery, hotel bookings, car-hailing, and lifestyle offerings. Launched in 2010, Meituan operates multiple mobile applications, such as Meituan and Dianping, serving over 400 million users across 2,800 cities and counties. In 2023, the company generated significant revenue from on-demand services, hotel bookings, and new initiatives, with plans to expand into community group buying and online grocery delivery. Initially focused on group discounts, Meituan has evolved into the largest food delivery service in the country, capturing over 70% of the market share. The company aims to enhance daily life for its users while pursuing a socially responsible approach through collaborations with various organizations.

Meilishuo

Series E in 2014
Meilishuo.com is a Chinese Pinterest-like website that enables women to find personalized clothing and skin care products. Users can search for experts, shops, group buying sites, and share online shopping links and information on their favorite products. The products listed on Meilishuo.com come from third party websites, and primarily have listings on Taobao, China’s largest e-commerce site. When users click on a product on Meilishuo, they are re-directed to the third party sites, including Taobao, where they can make their purchase, after which Meilishuo receives a commission. Launched in November 2009 Meilishuo.com received its financing round A from Blue Run Ventures. According to Meilishuo.com, the number of its registered users has reached 150 million since its launch in March 2010. The daily user volume is 3.2 million while the daily number of page views is 164 million, and per user traffic is averaged at 51 pages. Every month, the website brings about 700 million yuan to Taobao’s turnover, while its biggest competitor in China is Mogujie.

MOGU

Series D in 2014
MOGU is an consumer platform aimed towards women, achieved through e-commerce, social media, influencers and content driven services. Their content covers all areas of the fashion world and they have a huge range of age groups and interest covered through their numerous apps and platform. MOGU Inc. is a destination of fashion. With various kinds of fashion content and abundant fashion products, MOGU Inc. allows people to discover and share fashion trends while fully enjoying high-quality shopping experience. In 2011, MOGU Inc. launched fashion platform under the Mogujie brand . In 2016, the merger of Mogujie and Meilishuo was completed.Currently, MOGU Inc.'s online platform includes Mogujie.com and Meilishuo.com websites, mogujie mobile app, Meilishuo mobile app, Uni mobile app and several WeChat Mini programs.
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