Wang Lifeng, a visual technology expert who previously worked as a director at Autodesk Software (China) Co., Ltd., and a researcher at Microsoft Corporation, has joined 51HiTech, a Beijing-based virtual reality and augmented reality start-up as chief technology officer, according to the firm’s announcement on its WeChat account.
Chinese police have a stylish new way to fight crime: high-tech facial-recognition sunglasses.
China’s Tencent Holdings Ltd. has made a strategic investment in American media company Skydance Media, LLC as part of a production and distribution partnership, according to Skydance’s announcement.
China’s Alibaba Innovation Ventures, the corporate venture capital investment arm of Chinese e-commerce giant Alibaba Group Holding Ltd., has joined a US$30 million round of financing in Israeli safe driving software developer Nexar.
Sequoia Capital China and SoftBank Group have invested US$50 million in augmented reality camera app developer Snow China, according to a Snow Corporation announcement.
Singapore’s Temasek Holdings has led a new funding round in Rokid, a Chinese robotics start-up. Investors including Credit Suisse Group, CDIB Capital International, and existing investor IDG Capital also participated in the round, Rokid announced on its Wechat official account. The company did not disclose the amount it raised, but Chinese media reports put the number at US$100 million. Rokid did not immediately respond to China Money Network’s inquiry to confirm the figure. It is also unclear how Rokid is …
Lenovo Group Ltd. has teamed up with China Electronics Standardization Institution to launch an Industrial Big Data Application Alliance to support the utilization of industrial big data.
Chinese artificial intelligence start-up SenseTime has signed a long-term development agreement with Japanese car manufacturer Honda to build smart artificial intelligent cars with autonomous driving.
Chinese artificial intelligence company SenseTime has teamed up with Chinese property developer Modern Land (China) Co. to lead a RMB210 million (US$32 million) series B round in 51HiTech, a Beijing-based virtual reality and augmented reality start-up focused on applications in the real estate sector.
Entrepreneurs, start-ups and companies are drawn to the flexible, vibrant and energizing atmosphere at naked Hub co-working space in Hong Kong, the newest and hippest shared work place in the metropolitan. "Hubbers", what naked Hub calls its tenants, found the work environment that comes with bright yellow bean bags and unlimited free beer an ideal place for networking, business cooperation at affordable prices.
Chinese venture capital firm China Creation Ventures, founded six months ago by Zhou Wei, formerly a managing partner at venture firm Kleiner Perkins Caufield & Byers China, has reached first closing of its U.S. dollar dominated fund at nearly US$100 million.
Singapore’s Temasek Holdings has led a US$502 million series D round in Magic Leap Inc., a U.S.-based augmented reality start-up.
Alphabet subsidiary Google announced today that it has signed a US$1.1 billion agreement with Taiwanese smartphone maker HTC Corporation, in which certain HTC employees – many of whom are already working with Google to develop Pixel smartphones – will join Google. HTC will receive US$1.1 billion in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual property.
Chinese search engine Baidu Inc. has hired Herman Yu (pictured), former chief financial offer of Chinese social media company Weibo Corp., as its new CFO.
Taiwanese computer maker AsusTek Computer Inc., better known as ASUS, is partnering with Silicon Valley-based Fenox Venture Capital to launch a US$50 million venture fund to help U.S. technology start-ups expand to China.
Qingsong Fund, a venture capital firm founded by Alvin Liu, a co-founder of Tencent Holdings Ltd., has launched its third investment vehicle with RMB850 million (US$129 million) in committed capital.
Chinese Internet giant Baidu Inc. and China Life Insurance Co., Ltd will launch a RMB7 billion (US$1 billion) private equity fund targeting investment opportunities in the Internet, artificial intelligence, online finance and mobility sectors.
Autohome, a Chinese automobile sales platform backed by Li Xiang, founder of electric vehicle start-up NIO, has led a series A round worth nearly RMB100 million (US$14 million) in Sight Plus, an augmented reality solutions provider.
Vertex Venture Holdings Ltd., a wholly-owned subsidiary of Singapore’s Temasek Holdings, has led a series B round worth tens of millions of U.S. dollars in Julive, a Chinese online-to-offline (O2O) real estate agency.
Chinese investment firm, Shanghai Cableway Investment, has led a series B investment round of nearly RMB100 million (US$14 million) in HiScene, a Beijing-based start-up developing hardware and software products for augmented reality.
Chinese smartphone maker Smartisan Technology Co., Ltd., founded by Chinese Internet celebrity and English teacher Luo Yonghao, has raised a RMB1 billion (US$140 million) new funding round led by entities backed by the government of Chengdu.
China is finding a new application for virtual reality (VR) in drug rehab centers. Four such centers have been set up in coastal Zhejiang province using VR programs to treat over 1,008 drug abusers.
Lenovo Capital and Incubator Group have led a pre-A round worth tens of millions of RMB in Beijing NED+AR Display Technology Co., Ltd., a supplier of optical modules for augmented reality glasses.
As pornography is banned in China, a Taiwanese firm wants to get some skin in the game.
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.
Gobi Partners, a Shanghai-based venture capital firm focused on information technology, telecom, media and technology (TMT) and digital media industries, has joined a US$15.5 million series B round in WaveOptics, a U.K.-based augmented reality (AR) company.
Guian New Area, a 1,795 square kilometer economic zone located near Guiyang city in sleepy Guizhou province, has established Beidouwan Virtual Reality (VR) Town, an initiative backed by preferential government policies to support the development in the fast-growing VR industry in China.
Taiwan’s HTC Corporation and Quanta Computer have invested US$30 million in Israeli augmented reality firm Lumus Ltd., a start-up that develops transparent wearable display.
China’s Lenovo Capital and Incubator Group have made an undisclosed strategic investment in a virtual reality content production start-up SoReal, which is backed by acclaimed Chinese director Zhang Yimou.
CITIC Ltd. and SB China Capital (SBCVC) have invested HK$190 million (US$24.5 million) in Hong Kong-listed visual effects content producer Digital Domain Holdings Ltd. as strategic investors, the companies announced.
The year of 2020 will be the tipping point for virtual reality (VR), augmented reality (AR) and mixed reality (MR) to capture two thirds of consumers’ leisure time, while the industry will reach US$150 billion by 2022, according to a report issued by BofA Merrill Lynch Global Research.