The Jiangsu province hosts 14 unicorn companies, showing a strong presence in manufacturing and technology sectors. Travel platform LY.com is valued at $3B after raising $1.7B in funding.
The region's industrial strength is also seen in the automotive and semiconductor fields. Electric vehicle maker BYTON also has a $3B valuation, while semiconductor foundry SJ Semi has raised $1.6B.
Below is the full list of 14 Jiangsu unicorn startups at this time.
Top 10 Most Valuable Jiangsu Unicorns
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Get the Sheet for $50LY.com runs a major Chinese travel platform that helps users book tickets and accommodations. They focus on creating a hassle-free booking experience for all types of travel.
| Valuation | $3B |
| Year Founded | 2004 |
| Founders | Zhixiang Wu |
| Funding Amount | $1.7B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Corporate Round |
| Top Investors | CITIC Capital Holdings, Boyu Capital, Oriza Holdings, Tencent, Trip.com |
BYTON develops electric vehicles designed as fully connected smart devices on wheels. They're known for their futuristic interiors, which feature an expansive dashboard screen to create an immersive digital experience.
| Valuation | $3B (Joined April 2018) |
| Year Founded | 2016 |
| Founders | Carsten Breitfeld, Daniel Kirchert |
| Funding Amount | $1.2B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series C |
| Top Investors | Suning.com, Tencent, FAW Group, Contemporary Amperex Technology, Foxconn Technology Group |
As the sports arm of Suning Holdings Group, Suning Sports builds and manages a portfolio of sports-related assets. This includes operating professional sports clubs and managing media rights to deliver content and services to fans worldwide.
| Valuation | $3B |
| Year Founded | 1990 |
| Founders | — |
| Funding Amount | $600M |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series A |
| Top Investors | SenseTime, YF Capital, Alibaba Group, China Minsheng Bank, Goldman Sachs |
VANCL runs a direct-to-consumer e-commerce business selling its own private label fashion. They offer a wide range of simple, comfortable, and affordable apparel for men, women, and children.
| Valuation | $3B |
| Year Founded | 2007 |
| Founders | Nian Chen |
| Funding Amount | $522M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series G |
| Top Investors | SAIF Partners, IDG Capital, Temasek Holdings, Qiming Venture Partners, Tiger Global Management |
SJ Semi operates a Middle-End of Line (MEOL) foundry, providing a critical service in the semiconductor manufacturing process. They implement front-end wafer manufacturing techniques and quality systems for these specialized MEOL operations.
| Valuation | $2B |
| Year Founded | 2014 |
| Founders | — |
| Funding Amount | $1.6B |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Venture Round |
| Top Investors | Qualcomm, Legend Capital, Shang Qi Capital, Walden International, Shenzhen Capital Group |
Wenheyou creates immersive dining experiences that blend regional Chinese cuisine with nostalgic, retro cityscapes. Their popular restaurant brands are known for transporting customers back in time through detailed, theatrical environments.
| Valuation | $2B (Joined April 2021) |
| Year Founded | 2011 |
| Founders | Bin Feng |
| Funding Amount | $90.7M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series B |
| Top Investors | Harvest Capital, GIC, IDG Capital, HSG, Warburg Pincus |
Wellong Etown built a digital logistics platform for managing global road and sea freight. Their system uses smart load matching to help carriers find profitable shipments and reduce operational costs.
| Valuation | $2B |
| Year Founded | 2007 |
| Founders | — |
| Funding Amount | — |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | CCB International |
Bordrin Motors develops smart electric vehicles as part of a larger ecosystem for modern travel. Their work focuses on providing solutions for smart travel, mobile energy, and shared economic models.
| Valuation | $1.48B (Joined June 2019) |
| Year Founded | 2016 |
| Founders | Ximing Huang |
| Funding Amount | CN¥2.5B |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Corporate Round |
| Top Investors | Huai'an Yuanxing Investment, Sumitomo Corporation Equity Asia, Prosperity Investment, Sinochem International |
B&C Chemical focuses on the research and production of mid-to-high-end photoresists and related raw materials. Their advanced materials are key components in the manufacturing of semiconductors.
| Valuation | $1.02B (Joined April 2023) |
| Year Founded | 2010 |
| Founders | — |
| Funding Amount | CN¥900M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series C |
| Top Investors | Xingxiang Yuan, HNA Group, Qingsong Fund, Chinachem Group, Suzhou International Development Venture Capital |
SolarSpace develops and produces high-efficiency solar cells, a critical component for the renewable energy industry. They focus on advancing photovoltaic technology to help accelerate the global adoption of solar power.
| Valuation | $1B |
| Year Founded | 2011 |
| Founders | — |
| Funding Amount | CN¥3B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series B |
| Top Investors | Shanda Capital, Wanlin Holding, Yingke Capital, Xizi United Holdings, Sinochem Capital |
The Remaining 4 Unicorns Founded in Jiangsu
The ten most valuable unicorns are only a piece of the picture in Jiangsu. A handful of other companies are also hitting the billion-dollar mark in fields like mobility, healthcare, and retail. These businesses have raised nearly $3 billion combined. Here’s a look at the other unicorn startups shaping the province.