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Rongcheng toll plaza on G18 (20180503161621). The current gateway to the startup area of Xiong’an New Area. Note the sign after this gate indicating the new area. Photo by N509FZ –

The Most Famous Chinese Startups

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.

1. Yipin Fresh is a grocery store company based in Hefei

Lean Startup meetup in Shanghai. The Lean Startup Machine in Shanghai, China. Photo by TechYizu –

Yipin Fresh, a grocery store company based in Hefei, operates almost 900 fresh-food neighborhood stores in 17 Chinese towns. Online ordering and second-day delivery are also available through the company’s Yipien Daojia app and WeChat microprogram.

The firm has been on a growth and financial tear over the previous three years, which the pandemic will only exacerbate in 2020.

2. ByteDance became the world’s most valuable unicorn

China AI Startups (49240774261). Clustered by topic area, with non-Chinese AI start-ups in the grey background, an interesting tidbit from the 290-page Al Index Report. This covers the 486 companies that took investment from July 2018 to July 2019.
China uniquely focuses on automation, oil & gas, facial recognition, EdTech, autonomous vehicles, and mental health.
“AI startups in China received a whopping $16.6B in investment, or $34M per startup (201% more than startups in the US)”. Photo by Steve Jurvetson from Los Altos, USA –

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.

3. Zuoyebang provides online classes, courses, and personal instructor consultations

G18 Rongwu Expwy in Rongcheng, Baoding (20180503161425). K867, 2 kilometers from the exit to the startup area of Xiongan New Area in Rongcheng, Baoding. Photo by N509FZ –

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.

4. WeDoctor is a firm that provides a wide range of healthcare services to its users

Government of Xiong County (20180503174043). The downtown here is cleaner than downtown Rongcheng, but the startup area is in Rongcheng instead. Photo by N509FZ –

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.

5. Pony.ai is one of the most valuable unicorns globally

Franck Nazikian + Dave McClure. CHINICT’s founder Franck Nazikian & 500Startups’ founder Dave McClure at the 8th annual edition of the CHINICT conference on May 24th, 2012 in Beijing, China. Photo by Gravesv38 –

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.

6. Huochebang is an on-demand logistics network that connects commercial drivers with shippers

Franck Nazikian + Dave McClure + Net Jacobsson. CHINICT’s founder Franck Nazikian & 500Startups’s founder Dave McClure and Ginger Software’s CEO Net Jacobsson at the 8th annual edition of the CHINICT conference on May 24th, 2012 in Beijing, China. Photo by Gravesv38 –

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.

7. Shannon Artificial Intelligence is a financial artificial intelligence business that employs algorithms

EastShare.tif. eMule EastShare Mod’s logo. Also, splash screen on startup. Photo by LongstrideGandp –

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.

8. Intellifusion is a visual intelligence AI firm

HiPhi X electric suv. Photo by HiPhi X –

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.

9. Jinke Hui’an uses artificial intelligence to manage and mitigate risk

Hiphi logo. Photo by Tenyilinli –

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.

10. Video++ provides streaming services and advertising solutions

Mascot 20131006 kiki splash b 1920X1080. The title of this picture is “Kiki’s Creative Flow.” Used as Krita 2.8’s startup splash and redistributed as free wallpaper pack. Photo by Tyson Tan –

Video++, founded in 2014 and provides streaming services and advertising solutions to 65 percent 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.