China Digest: Sequoia leads $16m round for Alfilo; ZhenFund backs SaaS firm USP

China Digest: Sequoia leads $16m round for Alfilo; ZhenFund backs SaaS firm USP

The Palace Museum, China. Photo: James Coleman/unsplash

Sequoia Capital China has led a $16 million Series A+ round for Alfilo Brands, while investment firm ZhenFund has led a Series A round worth over $1 million for Chinese SaaS startup UPS.