China has become the growth engine for the smart speaker market worldwide, contributing 52% to worldwide volume growth, against 16% from the U.S. in the second quarter this year, according to a report by analyst company Canalys.
JD.com Launches Blockchain Open Platform For Enterprise Customers
Chinese retailer JD.com today announced that it is launching a new blockchain technology platform to help enterprise customers build, host and use their own blockchain applications for operations management.
Matrix Partners Leads $15M Series A Round In Chinese Insurance Start-up IFR
Shanghai-based insurance start-up Ins For Renascence (IFR) has raised a series round worth of around RMB100 million (US$14.5 million) led by Matrix Partners, according to Matrix Partners’ announcement on its official WeChat account.
Fosun International Invests $5M In Israeli Fintech Start-up The Floor
Chinese conglomerate Fosun International and its affiliate Fosun Hani Securities Ltd. jointly announced a strategic investment of US$5 million into Israeli fintech company, The Floor.
Chinese Courts Struggle To Rule Rising Numbers Of Crypto Disputes
The ambiguity of the cryptocurrency trading ban in China has created challenges for Chinese courts, as plummeting cryptocurrency prices are generating large number of crypto-related legal disputes in China.
Chinese Smartphone Giant Huawei To Reportedly Enter Smart TV Market
Chinese smartphone giant Huawei will launch its first smart TV before end of this year, to enter the increasingly competitive smart TV market in China, according to Chinese media citing insiders at Huawei’s suppliers.
Hong Kong-based PE Firm GSR Capital To Invest $270M In Blockchain Subsidiary tZero
Hong Kong-based private equity firm GSR Capital will invest a total of US$374.55 million in e-commerce retailer Overstock, with US$270 million to be allocated for its blockchain subsidiary tZERO, according to the company’s announcement.
Chinese Private Rocket Producer OneSpace Raises $44M Series B Round
Beijing-based OneSpace Technology, China’s first private rocket producer, has raised a RMB300 million (US$44 million) series B round led by CICC Jiatai Equity Funds, according to the company’s official announcement.
Chinese IT Ministry Seeking To Accelerate Blockchain Technology
The Chinese Ministry of Industry and Information Technology (MIIT) is reportedly considering ways to accelerate blockchain adoption according to a local media report.
Lianxing Capital Raises Strategic Investment From Huobi, JLAB and Gobi Venture Capital
Lianxing Capital has raised strategic investment from many institutions including Huobi Global Ecosystem Fund, JLAB, and Gobi Venture Capital among others.
China’s Tsinghua University Designs Multilayer Graphene Epidermal Electronic Skin
A scientist from China’s Tsinghua University has developed a graphene tattoo-like electronic skin that could be used as biological sensor for medical applications.
Sinovation Ventures Leads $15M In Chinese AI Start-Up Ahi Fintech
Chinese venture capital firm Sinovation Ventures has led a RMB100 million (US$15 million) series A round in artificial intelligence-powered fintech start-up Ahi Fintech.
SBCVC, SenseTime Co-Lead $199M Series D Round In Video Technology Firm Moviebook
SB China Venture Capital (SBCVC) and Chinese artificial intelligence company SenseTime have co-lead a RMB1.36 billion (US$199 million) series D round in video technology start-up Beijing Moviebook Technology Corp., Ltd.
Chinese P2P Lending Platform Dianrong Raises $40M From DFIIG
Shanghai-based peer-to-peer lending platform Dianrong, which raised over half a billion U.S. dollars previously during more exuberant times, has just received a US$40 million investment from Dalian Finance Industry Investment Group (DFIIG), according to a company announcement.
Tencent Leads $50M Pre-A Round In Chinese AI Chip Maker Suiyuan Technology
Tencent Holdings Ltd has led a RMB340 million (US$50 million) pre-A round in Suiyuan Technology, a Chinese artificial intelligence start-up developing cloud-based deep learning chips for AI training platforms.
Tencent-Backed Business Service Provider Weimob Files For Hong Kong IPO
Tencent-backed Chinese cloud-based commerce and marketing solutions provider Weimob Inc. has filed for an initial public offering in Hong Kong, according to its IPO prospectus.
Gaorong Capital, CMB International Co-Lead $26M Series A In Chinese AI Start-Up Tianrang
Chinese venture capital firm Gaorong Capital has joined CMB International to co-lead a RMB180 million (US$26 million) in Chinese artificial intelligence start-up Tianrang.
Google Reportedly In Talks With Tencent And Inspur To Provide Cloud Service In China
American tech giant Google is reportedly in talks with Tencent Holdings Ltd. and Chinese cloud computing service provider Inspur Group and other Chinese companies to bring its Google cloud services to mainland China, according to media reports citing insiders.
Chinese Private Space Start-up LandSpace To Launch First Rocket This Year
Beijing-based private space launch company LandSpace announced plans to launch its first rocket into orbit in the last quarter this year, to become China’s first private rocket to carry out commercial launch mission.
Google Reportedly Develops Censored Search Engine To Return China
US search engine giant Google reportedly plans to return China by developing a censored engine that will comply with Chinese law, according to media reports citing insiders.
JD.Com Launches First Cashier-Free Store Overseas In Indonesia
Chinese e-commerce firm JD.com Inc has opened its first cashier-free retail store overseas in Indonesia. The JD.ID X-Mart, newly opened in Jakarta, looks and operates similarly to cashier-free stores opened earlier by its rival Alibaba and many Chinese unmanned convenience store start-ups that emerged last year.
Sequoia Leads $65M Series B+ Round In Used Goods Swap App Xiangwushuo
Sequoia Capital has led a US$50 million series B+ round in Shanghai-based used goods swap app Xiangwushuo, which promotes a green and environmentally friendly lifestyle.
Andrew Ng’s Landing.ai Partners With Zoomlion To Empower China’s Agricultural Manufacturing
After applying artificial intelligence in electronics manufacturing, Andrew Ng, former chief scientist at Baidu and co-founder of the Google Brain, now wants to empower China’s agriculture sector with AI.
Tencent To Reportedly Develop AI Devices In A Joint Venture With Samsung
China’s social media giant Tencent Holdings Ltd. has joined forces with Korean smartphone maker Samsung Electronics to push artificial intelligence-powered devices, according to Korean media insiders.
Public Chain Ultrain Raises $20M Cornerstone Investment, Valuation Touches $200M
Public-blockchain technology venture, Ultrain Technology Ltd. Raised US$20 million cornerstone investment from Danhua Capital, FBG Capital, BlueRun Ventures, 8 Decimal Capital, OK Gang Capital and others, according to Chinese media reports.
Facebook’s China Subsidiary Plans Blocked By Chinese Central Authorities
U.S. social media giant Facebook’s move to set up a subsidiary in Hangzhou was apparently curtailed within a day of the news was made public, according to a media report.
BRICS Development Bank To Research The Implementation Of Blockchain Technology
The state-owned development bank by BRICS member states signed the agreement on collaborative research on distributed ledger and blockchain technology in the context of the development of the digital economy, according to the official press release by Russia-based Vnesheconombank.
Xiaomi’s Smartwatch Partner Huami Corp Acquires US Sport Sensor Firm Zepp
Huami Corporation, the maker of Xiaomi’s Mi smart wrist band, announced that it has entered into an agreement to acquire core assets of Zepp International Ltd., a multi-sport sensor technology company based in San Jose, California.
JD.com Hires Former Boeing Chief Engineer Li Xiaoguang To Head Its Drone Development
Chinese retailer JD.com has hired Li Xiaoguang, professor at Nanjing University of Aeronautics and Astronautics as chief scientist overseeing its drone development.
Blockchain Startup TRON To Acquire Software Company BitTorrent For $140M
Blockchain startup TRON announced in a blog post that it has officially acquired San Francisco-based software company BitTorrent.
Facebook Sets Up Subsidiary In Hangzhou To Make Inroads In China
US social media giant Facebook has moved forward to China by setting up a subsidiary in Hangzhou, home to Alibaba, with a registered capital of US$30 million, China’s National Enterprise Credit Information Publicity System said.