Chinese smart-city tech startup Venturous Group has raised a $131M Series A funding round. Amongst the investors is the Chinese single family office of former Alibaba executive Savio Kwan.
Venturous Group: Focus on urban technology
Beijing-based Venturous Group calls itself the leading citytech group. It focuses on investments in “smart city infrastrucutre data-technology services companies”. The goal is to make cities more sustainable and liveable through smart technology. Amongst the investments of Venturous are Homaer International, Innovex, Coevolution.AI or the Zhuyou Hotel Group.
Chinese Savio Kwan single family office as investor
Initially, Venturous aimed to raise only $80M. But now, with its $131M, the funding round is heavily oversubscribed. Also Benson Tam, Venturous’ founder and chairman invested $50M. Other investors include Fidelity China Special Situations and the aforementioned single family office of Savio Kwan. Kwan was the former president and COO of Alibaba and is an active startup investor who also serves on the board of British American Tobacco.
Source: Marketwatch, 30.06.2021
Picture Source: Nerses Khachatryan
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