China Digest: AIpark nets $42m Series C; Lc-Bio raises $16m in Series B funding

Smart parking solutions developer AIpark has secured 300 million yuan ($42 million) in its Series C round of financing led by return backer Gaorong Capital, while biotechnology company Lc-Bio Technologies (Hangzhou) has garnered 115 million yuan ($16 million) in its Series B round of funding.