Light Reading

Chinese Startups Dominate January VC Funding

Dan Jones
2/12/2014
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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

Startup Latest funding Location Developing Backers
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:

— Dan Jones, Mobile Editor, Light Reading

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DanJones
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DanJones,
User Rank: Blogger
2/12/2014 | 1:08:38 PM
Uber-doobie-doo
The mobile taxi/driver app must have been one of the best funded mobile sectors of the last year.
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