Yunmake, a Hangzhou-based smart bike maker, has raised a Series A led by Shunwei Capital, the investment firm led by Xiaomi chief executive officer Lei Jun. The company did not reveal the precise amount, but an article posted to Yunmake founder and CEO Qiu Yiwu’s Weibo said that the round is worth “tens of millions of RMB” (10 million RMB is equal to about $1.6 million). Read More