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The 41 Unicorn Startups Founded in Shanghai

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There’s no doubt that the startup scene in Shanghai is unique.

The city has created dozens of successful startups over the years. Some of them are already worth billions of dollars.

So whether you’re looking to start your own business, or just interested in learning about unicorns, here’s the complete list of 41 unicorn companies in Shanghai.

The 41 Unicorns in Shanghai

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Xiaohongshu

Xiaohongshu

Xiaohongshu is the latest innovation in social interaction, a way to share your experiences and learn from those around you.

Details of the startup:

  • Valuation:

    $20.00

    B (

    March 2016

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2013

  • Founders:

    Charlwin Mao Wenchao, Miranda Qu

  • Industries:

    E-Commerce, Mobile Apps, Shopping, Social

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $917.50M

  • Number of funding rounds:

    8

  • Number of investors:

    10

here

ZongMu Technology

ZongMu Technology

Zongmu Technology is a Chinese self-driving tech firm.

Details of the startup:

  • Valuation:

    $11.40

    B (

    June 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2013

  • Founders:

    Rui Tang

  • Industries:

    Automotive, Autonomous Vehicles, Robotics

  • Number of employees:

    10-50

  • Funding Amount:

    $210.83M

  • Number of funding rounds:

    4

  • Number of investors:

    11

here

Hello TransTech

Hello TransTech

Hello TransTech (formerly HelloBike) is a smart-sharing platform that develops innovative ways to experience travel in different cities.

Details of the startup:

  • Valuation:

    $5.00

    B (

    June 2018

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2016

  • Founders:

    Han Mei, Jiang Wei, Li Kaizhu, Yang Lei

  • Industries:

    Apps, Cycling, Last Mile Transportation, Ride Sharing, Travel

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $203.91M

  • Number of funding rounds:

    8

  • Number of investors:

    8

here

United Imaging Healthcare

United Imaging Healthcare

United Imaging Healthcare is a manufacturer of medical equipment and treatments for the healthcare industry.

Details of the startup:

  • Valuation:

    $5.00

    B (

    September 2017

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2011

  • Founders:

    Daniel Mou

  • Industries:

    Health Care, Health Diagnostics, Manufacturing, Medical, Medical Device

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $500.00M

  • Number of funding rounds:

    1

  • Number of investors:

    5

here

WM Motor

WM Motor

WM Motor is an all-electric company that designs, builds, and markets super safe zero emissions vehicles.

Details of the startup:

  • Valuation:

    $5.00

    B (

    March 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Bin Lu, Hui Shen, Ligang Du

  • Industries:

    Automotive, Autonomous Vehicles, Electric Vehicle, Manufacturing

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $193.24M

  • Number of funding rounds:

    8

  • Number of investors:

    28

here

Youxia Motors

Youxia Motors

Youxia Motors is a niche EV manufacturer that provides high quality production and a wide range of services.

Details of the startup:

  • Valuation:

    $3.35

    B (

    April 2018

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2014

  • Founders:

    Huang Xiuyuan, Will Lee

  • Industries:

    Automotive, Electric Vehicle, Industrial Design, Manufacturing

  • Number of employees:

    100-250

  • Funding Amount:

    $930.00M

  • Number of funding rounds:

    4

  • Number of investors:

    5

here

Hozon Auto

Hozon Auto

Hozon is an electric vehicle startup that uses technology to develop intelligent electric vehicle models.

Details of the startup:

  • Valuation:

    $2.74

    B (

    October 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2014

  • Founders:

    Yunzhou Fang, Zhang Yong

  • Industries:

    Automotive, Electric Vehicle, Manufacturing

  • Number of employees:

    250-500

  • Funding Amount:

    $300.00M

  • Number of funding rounds:

    6

  • Number of investors:

    10

here

Biren Technology

Biren Technology

Biren Technology is an innovative high-tech startup, with expertise in a range of fields that has helped us become the area’s leading developer.

Details of the startup:

  • Valuation:

    $2.32

    B (

    August 2020

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2019

  • Founders:

    Zhang Wen

  • Industries:

    Hardware, Information Technology, Internet, Software

  • Number of employees:

    250-500

  • Funding Amount:

    $285.21M

  • Number of funding rounds:

    3

  • Number of investors:

    32

here

Huaqin Telecom Technology

Huaqin Telecom Technology

Huaqin provides wireless network solutions and services for multinational corporations world-wide.

Details of the startup:

  • Valuation:

    $2.19

    B (

    October 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2005

  • Founders:

    Wensheng Qiu

  • Industries:

    Communication Hardware, Mobile Devices, Telecommunications, Wireless

  • Number of employees:

    10,000+

  • Funding Amount:

    $276.35M

  • Number of funding rounds:

    3

  • Number of investors:

    11

here

YITU Technology

YITU Technology

YITU Technology Inc. is a technology company that designs, manufactures, and markets products using artificial intelligence and interactive motion technology applications.

Details of the startup:

  • Valuation:

    $2.17

    B (

    March 2018

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2012

  • Founders:

    Lin Chenxi, Zhu Long

  • Industries:

    Apps, Artificial Intelligence, Finance, Health Care, Machine Learning

  • Number of employees:

    500-1,000

  • Funding Amount:

    $385.12M

  • Number of funding rounds:

    13

  • Number of investors:

    15

here

Black Sesame Technologies

Black Sesame Technologies

Black Sesame Technologies is an artificial intelligence (AI) digital imaging technology company focused on developing solutions for real-world AI difficulties.

Details of the startup:

  • Valuation:

    $2.00

    B (

    September 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2016

  • Founders:

    Johnson Shan, Wilson Liu

  • Industries:

    Artificial Intelligence, Automotive, Machine Learning

  • Number of employees:

    100-250

  • Funding Amount:

    $64.08M

  • Number of funding rounds:

    4

  • Number of investors:

    18

here

Guoquan Shihui

Guoquan Shihui

Guoquan Shihui is a food supply chain brand that supplies hot-pot and barbecue ingredients to supermarkets and convenience stores.

Details of the startup:

  • Valuation:

    $2.00

    B (

    March 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2017

  • Founders:

    Yang Mingchao

  • Industries:

    Food and Beverage, Sales

  • Number of employees:

    10-50

  • Funding Amount:

    $154.30M

  • Number of funding rounds:

    5

  • Number of investors:

    9

here

eDaili

eDaili

eDaili is a business-to-business-to-consumer marketplace that enables Chinese consumers to access international insurance and financial products.

Details of the startup:

  • Valuation:

    $1.90

    B (

    February 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Max He

  • Industries:

    Financial Services, FinTech, Insurance, Marketplace

  • Number of employees:

    100-250

  • Funding Amount:

    $1.00M

  • Number of funding rounds:

    4

  • Number of investors:

    4

here

ENOVATE

ENOVATE

ENOVATE is a high-end new energy vehicle manufacturer employing modern technology and innovative methods to change the way people travel.

Details of the startup:

  • Valuation:

    $1.85

    B (

    April 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Hailiang Zhang

  • Industries:

    Automotive, Energy, Mobile

  • Number of employees:

    500-1,000

  • Funding Amount:

    $5,986.82M

  • Number of funding rounds:

    1

  • Number of investors:

    No Data

here

AIWAYS

AIWAYS

AIWAYS is a smart car manufacturer based in Shanghai, China that creates beautiful electric vehicles that can be used in any situation.

Details of the startup:

  • Valuation:

    $1.78

    B (

    April 2018

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2017

  • Founders:

    Fu Qiang, Gu Feng

  • Industries:

    Artificial Intelligence, Automotive, Electric Vehicle, Manufacturing

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $100.00M

  • Number of funding rounds:

    7

  • Number of investors:

    5

here

Iluvatar CoreX

Iluvatar CoreX

Iluvatar CoreX is a developer of high-performance computing solutions including System-on-a-Chip (SoC) chipset and its software platform.

Details of the startup:

  • Valuation:

    $1.55

    B (

    March 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Yunpeng Li

  • Industries:

    Artificial Intelligence, Cloud Computing, Information Services, Information Technology, Software

  • Number of employees:

    100-250

  • Funding Amount:

    $390.00M

  • Number of funding rounds:

    2

  • Number of investors:

    5

here

Ximalaya FM

Ximalaya FM

Ximalaya is a commercial web radio platform. Ximalaya provides royalty-free music, audio books, and podcasts for businesses, organizations, and individuals.

Details of the startup:

  • Valuation:

    $1.52

    B (

    September 2017

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2012

  • Founders:

    Jianjun Yu

  • Industries:

    Audio, Internet Radio, Mobile

  • Number of employees:

    500-1,000

  • Funding Amount:

    $70.59M

  • Number of funding rounds:

    9

  • Number of investors:

    31

here

Mofang Living

Mofang Living

Mofang Gongyu is a real estate developer and property manager that provides apartment homes to individuals, families, and professionals.

Details of the startup:

  • Valuation:

    $1.50

    B (

    April 2016

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2009

  • Founders:

    Lan Ge

  • Industries:

    Property Management, Real Estate, Rental Property, Sales

  • Number of employees:

    50-100

  • Funding Amount:

    $710.00M

  • Number of funding rounds:

    4

  • Number of investors:

    4

here

Changingedu

Changingedu

Changingedu is helping make learning an accessible and affordable experience for students.

Details of the startup:

  • Valuation:

    $1.50

    B (

    October 2017

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2014

  • Founders:

    Liu Changke

  • Industries:

    E-Learning, EdTech, Education, Mobile

  • Number of employees:

    100-250

  • Funding Amount:

    $188.00M

  • Number of funding rounds:

    5

  • Number of investors:

    7

here

YunQuNa

YunQuNa

YunQuNa is an online portal that offers logistics trading and services on a global scale.

Details of the startup:

  • Valuation:

    $1.50

    B (

    June 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Shihao Zhou

  • Industries:

    E-Commerce, Freight Service, Insurance, Internet, Logistics, Shipping, Transportation

  • Number of employees:

    250-500

  • Funding Amount:

    $185.52M

  • Number of funding rounds:

    8

  • Number of investors:

    7

here

Ouyeel

Ouyeel

Ouyeel Trading Platform is an online platform for Chinese steelmakers to buy and sell their excess production. The platform enables Chinese steelmakers to share products, improve efficiency and reduce costs.

Details of the startup:

  • Valuation:

    $1.45

    B (

    June 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    No Data

  • Industries:

    Advanced Materials, Industrial Manufacturing, Trading Platform

  • Number of employees:

    250-500

  • Funding Amount:

    $433.72M

  • Number of funding rounds:

    2

  • Number of investors:

    9

here

DeepBlue Technology

DeepBlue Technology

DeepBlue Technology is a leader in image-processing solutions for retail establishments. They create customized solutions that help retailers collect better data and increase their customer base.

Details of the startup:

  • Valuation:

    $1.35

    B (

    April 2018

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2014

  • Founders:

    Haibo Chen

  • Industries:

    Artificial Intelligence, Computer Vision, Information Technology, Machine Learning, Retail Technology, Software

  • Number of employees:

    10-50

  • Funding Amount:

    $79.28M

  • Number of funding rounds:

    3

  • Number of investors:

    4

here

Manner

Manner

Manner is a specialty coffee chain, committed to exceptional atmosphere, taste, and style while maintaining a sustainable work environment.

Details of the startup:

  • Valuation:

    $1.30

    B (

    December 2020

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Yulong Han

  • Industries:

    Coffee, Food and Beverage, Supply Chain Management

  • Number of employees:

    50-100

  • Funding Amount:

    $497.19M

  • Number of funding rounds:

    3

  • Number of investors:

    4

here

Enflame

Enflame

Enflame is a chip development company focusing on training platforms for deep learning solutions to common AI problems. This will significantly reduce business time and costs.

Details of the startup:

  • Valuation:

    $1.24

    B (

    January 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2018

  • Founders:

    Arthur Zhang, Lidong Zhao

  • Industries:

    Artificial Intelligence, Machine Learning, Semiconductor, Software

  • Number of employees:

    100-250

  • Funding Amount:

    $472.29M

  • Number of funding rounds:

    6

  • Number of investors:

    12

here

Yimidida

Yimidida

Yimidida is a Chinese pioneer in the crowd-sourced delivery industry which provides high-quality logistics services with an AI algorithm model.

Details of the startup:

  • Valuation:

    $1.17

    B (

    January 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Yang Xingyun

  • Industries:

    Cloud Data Services, Logistics, Productivity Tools, Supply Chain Management

  • Number of employees:

    10,000+

  • Funding Amount:

    $553.61M

  • Number of funding rounds:

    6

  • Number of investors:

    10

here

Tuhu

Tuhu

Tuhu is an automotive supplier delivering high value, innovative products and services.

Details of the startup:

  • Valuation:

    $1.16

    B (

    September 2018

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2011

  • Founders:

    Min Chen

  • Industries:

    Automotive, E-Commerce, Service Industry

  • Number of employees:

    500-1,000

  • Funding Amount:

    $580.45M

  • Number of funding rounds:

    7

  • Number of investors:

    14

here

Qingting FM

Qingting FM

QingTing FM is an independent research and media microphone operator of Internet-based radio aggregation service.

Details of the startup:

  • Valuation:

    $1.10

    B (

    June 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2011

  • Founders:

    Zhang Qiang

  • Industries:

    Internet Radio, iOS, Mobile

  • Number of employees:

    250-500

  • Funding Amount:

    $163.70M

  • Number of funding rounds:

    6

  • Number of investors:

    13

here

56PINGTAI

56PINGTAI

56Pingtai.net is a platform for logistics integration.

Details of the startup:

  • Valuation:

    $1.08

    B (

    January 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2013

  • Founders:

    Shuibo Xu

  • Industries:

    Internet, Logistics

  • Number of employees:

    No Data

  • Funding Amount:

    $187.82M

  • Number of funding rounds:

    4

  • Number of investors:

    6

here

Hesai Tech

Hesai Tech

Hesai has designed the first fully-autonomous radar based on laser-microwave technology that accurately detects moving obstacles and recognizes static obstacles with the highest accuracy.

Details of the startup:

  • Valuation:

    $1.05

    B (

    August 2020

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2013

  • Founders:

    Kai Sun, Shaoqing Xiang, Yifan Li

  • Industries:

    Autonomous Vehicles, Laser, Manufacturing, Sensor, Transportation

  • Number of employees:

    500-1,000

  • Funding Amount:

    $717.29M

  • Number of funding rounds:

    9

  • Number of investors:

    18

here

Poizon

Poizon

POIZON is an e-commerce platform that focuses on the secondary market of limited edition streetwear and sneakers. They were the first website to sell limited edition shoes from mainstream fashion designers, including Kanye West, Louis Vuitton, and Raf Simons.

Details of the startup:

  • Valuation:

    $1.00

    B (

    April 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Yang Bing

  • Industries:

    E-Commerce, Fashion, Information Technology, Retail

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $53.05M

  • Number of funding rounds:

    2

  • Number of investors:

    4

here

Gaussian Robotics

Gaussian Robotics

Gaussian Robot is a robotics company that develops intelligent cleaning robots.

Details of the startup:

  • Valuation:

    $1.00

    B (

    November 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2013

  • Founders:

    Haotian Cheng, Qifu Cen

  • Industries:

    Artificial Intelligence, Robotics

  • Number of employees:

    100-250

  • Funding Amount:

    $287.83M

  • Number of funding rounds:

    5

  • Number of investors:

    12

here

HAYDON

HAYDON

Haydon operates physical sales stores of international beauty products.

Details of the startup:

  • Valuation:

    $1.00

    B (

    September 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2020

  • Founders:

    No Data

  • Industries:

    Beauty, Retail

  • Number of employees:

    No Data

  • Funding Amount:

    $115.00M

  • Number of funding rounds:

    2

  • Number of investors:

    2

here

DianRong

DianRong

Dianrong is an online marketplace lending company that makes financing more easily accessible to individuals.

Details of the startup:

  • Valuation:

    $1.00

    B (

    August 2017

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2012

  • Founders:

    Kevin Guo, Soul Htite, Soul Htite

  • Industries:

    Finance, Financial Services, FinTech, Internet, Marketplace

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $649.00M

  • Number of funding rounds:

    8

  • Number of investors:

    21

here

Keenon Robotics

Keenon Robotics

Keenon Robotics is a developer and innovator company that dedicated to develop commercial service robots.

Details of the startup:

  • Valuation:

    $1.00

    B (

    September 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2010

  • Founders:

    Tong Li

  • Industries:

    Industrial Automation, Robotics

  • Number of employees:

    100-250

  • Funding Amount:

    $228.79M

  • Number of funding rounds:

    3

  • Number of investors:

    8

here

Banma Network Technologies

Banma Network Technologies

Banma Network Technologies is a next-generation automotive technology company that offers the first standard operating system for cars, the AliOS.

Details of the startup:

  • Valuation:

    $1.00

    B (

    September 2018

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Alex Shi

  • Industries:

    Automotive, Autonomous Vehicles, Internet

  • Number of employees:

    100-250

  • Funding Amount:

    $11.54M

  • Number of funding rounds:

    2

  • Number of investors:

    6

here

HuJiang

HuJiang

Hujiang is a professional learning platform that provides users with enjoyable and convenient learning.

Details of the startup:

  • Valuation:

    $1.00

    B (

    October 2015

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2001

  • Founders:

    Cairui Fu

  • Industries:

    EdTech, Education, Internet

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $223.29M

  • Number of funding rounds:

    5

  • Number of investors:

    4

here

iTutorGroup

iTutorGroup

ITutorGroup is dedicated to servicing your business and educational needs through superior in-house support and a team of professional tutors.

Details of the startup:

  • Valuation:

    $1.00

    B (

    November 2015

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    1998

  • Founders:

    Eric Yang, Jerry Huang, Ming Yang

  • Industries:

    Consumer Software, E-Learning, Education, Internet, Language Learning

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $315.00M

  • Number of funding rounds:

    4

  • Number of investors:

    8

here

LinkSure Network

LinkSure Network

​​​ Shanghai Lian Shang is a leading Internet technology developer and provider. Its vision is to create a value-added online platform for mobile operators and content providers.

Details of the startup:

  • Valuation:

    $1.00

    B (

    January 2015

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2013

  • Founders:

    Chen Danian

  • Industries:

    Internet, Mobile, Wireless

  • Number of employees:

    10-50

  • Funding Amount:

    $52.00M

  • Number of funding rounds:

    3

  • Number of investors:

    4

here

Tezign

Tezign

Tezign is the contech startup in China aiming to build the digital infrastructure of content experience

Details of the startup:

  • Valuation:

    $1.00

    B (

    November 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Daisy Guo, Ling Fan, Zhe Wang

  • Industries:

    Animation, Content Marketing, Graphic Design, Marketing, SaaS, Software

  • Number of employees:

    250-500

  • Funding Amount:

    $142.27M

  • Number of funding rounds:

    6

  • Number of investors:

    10

here

XForcePlus

XForcePlus

Xforceplus develops enterprise collaborative solutions for software as a service.

Details of the startup:

  • Valuation:

    $1.00

    B (

    June 2021

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Yun Wu

  • Industries:

    Cloud Computing, Enterprise Software, Information Technology, SaaS, Software

  • Number of employees:

    250-500

  • Funding Amount:

    $3,435.00M

  • Number of funding rounds:

    6

  • Number of investors:

    11

here

Zhaogang

Zhaogang

Zhaogang.com is a website that serves the world’s metal industry with up-to-date information on worldwide steel pricing, demand, and availability.

Details of the startup:

  • Valuation:

    $1.00

    B (

    June 2017

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2012

  • Founders:

    Dong Wang

  • Industries:

    Advanced Materials, Industrial Manufacturing, Trading Platform

  • Number of employees:

    500-1,000

  • Funding Amount:

    $361.25M

  • Number of funding rounds:

    6

  • Number of investors:

    14

here
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