Chinese Startups Dominate January VC Funding
Chinese startups dominated the venture capital (VC) funding of mobile-related companies during January.
Rutberg & Co. reports that private companies in mobile raised $1.1 billion in 117 venture capital deals last month. Mobile startups pulled in $868 million in December 2013, while VC investment in mobile firms totalled $600 million in November.
All of the top three funded companies are based in Beijing. Here are the top five funded mobile startups for January:
Table 1: January's Mobile VC Funding: The Top 5
|Wandoujia||$120M||Beijing, China||Domestic mobile app store||SoftBank; DCM, Innovation Works|
|Didi Dache||$100M||Beijing, China||Chinese mobile taxi app||CITIC Capital; Tencent|
|LineKong||$80M||Beijing, China||Mobile games for the Chinese market||Orchid Asia, Profitable Century International Limited, SAIF Partners, Starwish Global Limited|
|Stripe||$80M||San Francisco, Calif.||A mobile payments API||Founders Fund; Allen & Company, Khosla Ventures, Sequoia Capital|
|Applause (fka: uTest)||$43M||Framingham, MA||A software testing system||Goldman Sachs; Egan-Managed Capital, Longworth Venture Partners, MassVentures, Mesco, QuestMark Partners, Scale Venture Partners|
|Source: Rutberg & Co|
The wild card is Biz Stone's new venture, Jelly, a mobile photo-based question-and-answer service. The ex-Twitter Inc. man's latest company has raised an undisclosed amount of series B funding, after raising a similarly secretive first round.
For more on mobile startup funding, see:
- Mobile VC Bumps Up to $868M in December
- Mobile VC Funding Hits $600M in November
- Softbank's Supercell Buy Tops Mobile M&A
— Dan Jones, Mobile Editor, Light Reading