Funding round
Megvii Series D
Megvii, which works in AIoT platform development in Haidian District, raised $750M in a Series D round announced on 8 May 2019, led by Bank of China Group Investment, at a $4.00B post-money valuation. 6 firms took part, 2 of them already investors.
$750M
Amount raised
$4.00B
Post-money valuation
$3.25B pre-money
6
Investors
1 lead
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Megvii at $4.00B after the new money. The $750M bought investors about 19% of the company. It is Megvii's first venture round on record, 8 years after it was founded in 2011. No later venture round is on record for Megvii.
Megvii's funding rounds
This is the only venture round on record for Megvii.
- Series D this round 8 May 2019, led by Bank of China Group Investment $750M$4.00B post-money
Investors
Who put money in
Bank of China Group Investment led the round with 5 other firms. Bank of China Group Investment and Alibaba Group had backed Megvii before.
Lead investor
- Bank of China Group Investment existing investor
Also in the round
- Abu Dhabi Investment Authority backs 19 venture-backed companies new investor
- ICBC Asset Management new investor
- Macquarie backs 52 venture-backed companies new investor
- Alibaba Group existing investor
- BOCGI
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
115 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 15 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 14 May 2019 | $410M | not disclosed | Vector Capital |
| Tech Companies | 30 May 2019 | $110M | not disclosed | Sequoia Capital |
| Tech Companies | 29 May 2019 | $52M | not disclosed | General Catalyst |
| Tech Companies | 29 May 2019 | $50M | not disclosed | Insight Partners |
| Tech Companies | 29 May 2019 | $40M | not disclosed | Tiger Global Management |
| Yanolja Tech Companies | 11 Jun 2019 | $180M | $1.00B | GIC and Booking Holdings |
| Tech Companies | 3 Apr 2019 | $175M | $1.50B | Accel and GV |
| Motive Tech Companies | 23 Apr 2019 | $149M | $1.25B | Greenoaks Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Megvii raise in its Series D round?
Megvii raised $750M in its Series D round, announced in May 2019.
Who led Megvii's Series D round?
Bank of China Group Investment led it, with Abu Dhabi Investment Authority, ICBC Asset Management, Macquarie, Alibaba Group and BOCGI.
What was Megvii's valuation at the Series D round?
$4.00B post-money ($3.25B pre-money).
How does it compare with other Series D rounds in Tech Companies?
115 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 15 times the median.