Consumer

Comment from Erin Boyd, Proseeder thought leader

Tencent-backed group buying platform developer Xingsheng Youxuan has formed a strategic collaboration with JD.com in lower-tier cities.

This latest funding round for the CAA-backed meditation app developer doubled its valuation to $2bn and brought its total funding to $217m.

The company priced an upsized IPO nearly doubling its valuation six months ago. It is part of a the food delivery space which was given a boost by the pandemic.

Coloridoh, Ellie, Hakken, Greenspoon, TechMagic and Lyxis will all join the five-month programme overseen by Ajinomoto Group Accelerator powered by 01Booster.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

State-backed investors have provided late-stage funding for the online groceries delivery service, which is backed by Lenovo and Tencent.

SoftBank Vision Fund is the largest investor in the food delivery service, which has priced an upsized initial public offering roughly doubling its valuation six months ago.

Legend Capital co-led a $50.5m round for the children's building block producer with Source Code Capital.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

The online watch media and e-commerce platform secured the cash in a TCG-led round that also featured GV and LVMH Luxury Ventures