After experiencing a series setbacks in the U.S., Huawei Technologies Co., Ltd. has turned to Europe for overseas growth. The tech giant has announced that its 5G products have passed verification requirements to legally enter the European Union market.
Baidu Inc. has agreed to invest RMB1.01 billion (US$159.6 million) in Coocaa, a smart TV unit owned by consumer electronics producer Hong Kong Skyworth Digital Holdings, according to Skyworth’s security filing.
Huami Corporation, a Chinese manufacturer of low-cost wearable devices backed by smartphone maker Xiaomi, raised a smaller-than-expected US$110 million in a public float on the New York Stock Exchange today. The offering, which was less than the hoped for US$150 million, gives Huami a market valuation of US$690 million, much lower than its previously rumored US$1 billion price tag.
China’s second largest e-commerce player JD.com Inc. has gained approval from China’s Civil Aviation Administration for the first national pilot program to test delivery drones on a large scale in China. The program will be rolled out in the northern province of Shaanxi.
Chris Lai, ex-venture partner at Sinovation Ventures, has moved to Shunwei Capital, a venture capital firm founded by Xiaomi’s founder Lei Jun.
Huami Corporation, the maker of Xiaomi’s Mi smart wrist ban is seeking a US$150 million initial pubic offering in the U.S., according a securities filing. The company is applying for the listing of its ADSs on Nasdaq Global Market under the ticker symbol “HMI”. Pricing terms were not disclosed.
Baidu’s former corporate investment, mergers and acquisitions senior director Peter Fang has joined Sinovation Ventures as a partner, focusing on investment in artificial intelligence and relevant technologies, according to a Sinovation announcement. Fang previously worked for Sinovation from 2011 to 2014.
The world’s largest consumer drone maker DJI has vehemently denied accusations from U.S. Immigration and Customers Enforcement (I.C.E) that the company’s drones have been collecting sensitive data on American infrastructure and sending it back to the Chinese government.
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money in at around 5pm each workday.
Chinese Internet giant Baidu Inc. and smartphone maker Xiaomi Inc. have entered into a partnership leveraging the two companies’ strengths in artificial intelligence (AI) and Internet of Things (IoT).
China Money Network’s Special Situations Team brings you the latest installment in our “Industry Specialist” series, sitting down with Bill Sims, a Managing Director for Cybersecurity, Investigations & Business Intelligence Asia Pacific Stroz Friedberg to discuss the current cybersecurity challenges facing Chinese companies and foreign investors in the country. China is home to the world’s largest group of Internet users. However, the country is behind the curve in terms of cybersecurity. The number of cyber attacks on Chinese and Hong …
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money in at around 5pm each workday.
Chinese e-commerce giant JD.com Inc. is partnering with U.S. technology firm Nvidia Corp. to deploy one million logistics drones in China over the next five years.
Zhifei Li, founder of Chinese artificial intelligence firm Mobvoi, once joked in a Wechat post that the best business model for a Chinese AI company was to become an Internet celebrity via smart marketing and then pivot to become an e-commerce firm. But, he added self-deprecatingly, "because I’m not handsome enough and my Mandarin is terrible, I choose to sell premium hardware powered by our own proprietary AI technology."
BlueRun Ventures China has led a US$32.5 million series C round in Airobotics, an Israeli manufacturer of fully automated industrial drones, with participation from Microsoft Ventures, crowdfunding platform OurCrowd.com and an unnamed strategic investor.
Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors.
Chinese venture capital firm IDG Capital has led a series A round in Guoxiaomei, a cashier-free convenience store operator that places snack bars in corporate offices. Financing details were not disclosed, but IDG has likely invested tens of millions of RMB in the start-up, including in an earlier pre-A round completed last month.
Shenzhen-based Mangrove Capital, an investment firm co-founded by Wang Duo, an ex-partner at SAIF Partners, has led a RMB300 million (US$45 million) series B round in Ucpaas, a Chinese cloud communication service provider.
U.S.-based smart hardware focused venture capital firm Grishin Robotics has led a US$9 million series A round in Gobee.bike, a Hong Kong-based bike sharing start-up.
It seems that every technology company in China wants to be an artificial intelligence firm. The latest to join the club is Lenovo Group Ltd., until recently the world’s largest personal computer maker.
Warning: Venture investment in cashier-free convenience stores will explode. Another fully automated convenience store start-up in China just raised RMB125 million (US$18.5 million) from investors after US$20 million was poured into two similar companies during the past two weeks. Aplus Capital, an early stage investment fund, led the latest series A round in Xiaomai, a Beijing-based automated convenience store operator, with participation from Chenshan Capital. Xiaomai’s stores operate in similar ways to rival Bingobox, letting users scan their face or …
In case you haven’t heard, the next "big thing" after bike sharing has arrived. Welcome to the age of cashier-free convenience stores, the latest craze among venture capitalists in China. Since the launch of Amazon Go, the U.S. e-commerce giant’s retail store that requires no cashiers and no check-out, the concept has been quickly adopted in China and taken to a whole new level.
China’s largest e-commerce firm Alibaba Group Holding Ltd. said it has established a new company-wide committee to implement its strategy for the future and upgrade the group’s various business units.
Chinese Internet giant Baidu Inc. has agreed to acquire KITT.AI, a Seattle-based natural language processing start-up founded by Chinese entrepreneurs Yao Xucheng and Chen Guoguo. The pair plan to jointly develop natural language understanding technology as part of Baidu’s intense push into AI.
Chinese smartphone maker Huawei Technologies Co., Ltd. plans to build a factory in Japan for network equipment production, in the first full-scale factory to be built by a Chinese company in Japan.
Chinese venture capital firm GGV Capital has led a series A round in Clobotics, a Shanghai-based start-up specializing in machine vision for drones and industrial big data.
Millions of ambitious young people wake each morning wanting to "change the world," but few have as ambitious a goal as Bill Liu, founder of Chinese flexible display company Royole Corporation. If Thomas Friedman argued that "the world is flat," then Bill Liu’s mission is to bend, curve and roll up that world.
Leading Chinese bike-sharing company Mobike says it has established a Japanese subsidiary, Mobike Japan Ltd., in Fukuoka city, with plans to begin services in that city later this year. The move comes after the company expanded into Singapore in March and announced plans to launch services in the U.K. later this month.
The sharing economy continues to attract venture funding in China. In the latest move, Chinese venture capital firm Gobi Partners has led a RMB50 million (US$7 million) series A round in Nongtian Guanjia, a sharing platform connecting teams of agricultural drone operators with farmers needing their services.
New Oriental Education & Technology Group Inc. has led a RMB90 million (US$13 million) funding round in Kaishuo Jianggushi, a children’s stories content provider.
China Investment Corporation (CIC), with US$814 billion under management, opened a representative office in New York city last Friday as the Chinese sovereign wealth fund moves to expand its global reach and investment capabilities.