China may be the most fertile ground for business and startup creation. With 1.4 billion people, China's user market is massive; there is fierce rivalry among entrepreneurs; firms receive enormous subsidies, and the economy is actively developing. In terms of the number of freshly formed unicorns, Chinese companies overtook Silicon Valley in 2019. Chinese startups made $7.5 billion in the first three months of 2020. Funding climbed to more than $13.2 billion in the second quarter. In July and August alone, businesses received approximately $12.2 billion in funding. These businesses not only survived but flourished throughout the epidemic, growing at a breakneck pace by meeting and exceeding client expectations. With that in mind, let us look at the Top 15 startups in China.
- Yipin Fresh
- Shannon Artificial Intelligence
- Jinke Hui'an
Top 15 Startups in China
Here are listed some of the best chinese startups
Yipin Fresh, a grocery store company based in Hefei, operates almost 900 fresh-food neighbourhood stores in 17 Chinese towns. Online ordering and second-day delivery are also available through the company's Yipien Daojia app and WeChat microprogramme. The firm has been on a growth and financial tear over the previous three years, which the pandemic will only exacerbate in 2020.
With a total worth of $140 billion in 2020, ByteDance became the world's most valuable unicorn, and its market capitalization has since risen to a staggering $425 billion. TikTok, its Chinese equivalent Douyin, the Indian Helo social network in many languages, the Chinese news site Toutiao, and several other services are all owned by the firm.
WeRide, a Chinese startup, is another critical competitor in the drone sector. The startup has already debuted its robotaxi, deployed 100 drones, and got approval to operate without drivers. Nissan, Renault, and Mitsubishi are among the firms that have invested in the business. The startup has already received $310 million in Round B funding for 2021.
For schoolchildren and preschoolers, Zuoyebang provides online classes, courses, and personal instructor consultations. During online broadcasts in the fall of 2020, 10 million people were recorded on the site.
Tiger Global Management, Alibaba Group, Sequoia Capital China, and SoftBank Vision Fund invested $1.6 billion in the firm in Round B at the end of last year. The platform raised $2.9 billion in total.
WeDoctor is a firm that provides a wide range of healthcare services to its users. The concept for the service originated with an application for an online doctor's appointment. You may now obtain an online consultation, write a prescription, and diagnose using a built-in artificial intelligence system with the aid of WeDoctor. The startup was valued at $6 billion in 2018.
Tencent invested $1.34 billion in Goldman Sachs Holdings Ltd, Hillhouse Capital Group, and Morningside Group in the firm in 2020.
Startup Pony.ai debuted in 2016, and since then, the company has grown at the same rate as drones. Pony.ai is now one of the most valuable unicorns globally when it comes to producing drone technology. The company's main line of business is autonomous deliveries, and it's also working on a robotic taxi.
The firm was valued at $5.3 billion in the third phase of the exchange in February 2021.
Huochebang, based in Guizhou, China, is an on-demand logistics network that connects commercial drivers with shippers in need of transportation across China. Huochebang and Yunmanman joined in 2017 to develop a platform with over 4 million trucks and no plans to slow down anytime soon.
Huochebang is predicted to expand significantly as consumers demand more online, faster delivery, and coverage across China.
Shannon Artificial Intelligence
Shannon.AI is a financial artificial intelligence business that employs algorithms to evaluate, extract, and integrate vast financial data. It was founded in 2017. Shannon Technology promotes a new natural language-based information interaction paradigm that allows investors to get the information they want faster, more intuitively, and precisely. The company's headquarters are in Beijing, China.
Intellifusion was created in 2014 and is a visual intelligence AI firm providing solutions for public safety, social governance, new business, AIoT, and other disciplines based on their computer vision technology. The headquarters of Intellifusion is located in Shenzhen, Guangdong.
In April 2020, the firm completed its Series C fundraising round amid the epidemic, raising an impressive $153 million.
Intellifusion is on track to follow in the footsteps of a slew of AI unicorns that have forged close ties with China's municipal, regional, and national governments.
Hui'an Jinke, like Shannon.ai, uses AI for a different reason than many other Chinese AI unicorns. The startup, which was formed in 2017, uses artificial intelligence to manage and mitigate risk.
Fraud Monitoring, Operational Risk Identification, and Anti-Money Laundering are AI/ML improved products.
In 2018, the firm secured a Series A round of funding.
Video++, founded in 2014 and provides streaming services and advertising solutions to 65 per cent of China's leading video platforms, reaches over 500 million unique video users each month.
Video++ uses AI to insert adverts in post-production material, in addition to more standard streaming and advertising services.
Video++ most recently received $105 million in Series C financing in September 2018.
Meiri Youxian/MissFresh has reaped significant benefits from the epidemic.
In 2020, the firm, which was launched in 2014, will get two rounds of finance. In July 2020, they secured $495 million in a Series E round, and then in December 2020, they raised an additional $306 million from investors.
Although MissFresh is sometimes compared to Instacart, its business strategy is more akin to Farmstead. The corporation has 1,500 smaller distribution centres closer to residential areas, which allows for speedier delivery and cheaper cold-chain expenses.
Starfield is a fast-growing alternative meat brand in China, founded in 2017 in Shenzhen. From August through October, the firm received $10 million in a Series A round.
Starfield has become China's fastest-growing plant-based brand. Starfield intends to establish a facility in Shenzhen with this fresh capital to continue its research and development.
In addition, through working with eateries, the firm hopes to market its products to Chinese consumers. Despite the pandemic, it started partnering with many foodservice firms in 2019 and has created several new collaborative connections in 2020.
Geek+ was established in 2015 to assist warehouse and industrial operators in meeting the rising demands of eCommerce. Nike, Toyota, DHL, and Dell are among the firms that use the company's logistics solutions today.
The business has installed over 10,000 logistics robots for a new generation of automated facilities.
In June 2020, the firm secured $50 million in a Series C expansion round.
With offices in Germany, Japan, Hong Kong, Singapore, the United Kingdom, and the United States, the corporation is headquartered in Beijing.
Chehaoduo is an online marketplace for secondhand cars that connects sellers and buyers. The Beijing-based startup was formed in 2015 and has raised an incredible $3.6 billion in the last five years, including a $200 million Series D extension in May 2020.
Developed Asian nations are becoming full-fledged Silicon Valley rivals, and they have several advantages. The size of the potential user market to state business assistance and other regional benefits is excellent since competition fosters company development and new ideas and startups contribute to further human progress.
Which are the top startups in China?
Some of the top startups in China are:
- Yipin Fresh
- Shannon Artificial Intelligence
- Jinke Hui'an
What are the top chinese startups operating in India?
Some of the top Chinese startups operating in India are:
- Xiaomi Mi
- One Plus