Wecash, a Chinese fintech credit assessment solutions provider, has raised a US$160 million series D round of financing led by Orix Asia Capital and SEA Group. It marks Orix’s second round of investment in the Chinese company this month.
Chinese Internet giant Tencent has announced the establishment of a robotics laboratory named "Robotics X”, to support the company’s push into AI and robotics. The new lab, to be based in Shenzhen, will reinforce Tencent’s R&D in the artificial intelligence realm in conjunction with its existing AI Lab, launched in April 2016. At the same time, the company announced that it had reached a strategic cooperation agreement with Nature Research, a subsidiary of academic publisher Springer Nature, to promote research …
Shunwei Capital, a venture firm backed by Xiaomi’s CEO Lei Jun, has led a US$100 million series D round of financing for Kujiale, a Chinese home design platform utilizing virtual reality (VR) technology.
Chinese live-streaming platform Huya has raised a US$461.6 million series B round of financing led by Chinese Internet giant Tencent. It marks Tencent’s second major investment in the live-streaming market within 24 hours.
Continental AG (CON.XE), a German automotive supplier, said it plans to set up a joint venture with Chinese auto parts maker Sichuan Chengfei Integration Technology Co. to develop and manufacture 48-volt battery systems for cars.
Baidu, one of China’s Internet and tech titans, announced plans to integrate three departments into one called the Smart Living Group (SLG) to consolidate and streamline its businesses in the smart hardware sector.