China VC/Tech News Weekly Roundup: China VC Report For May, Sensetime Raises $1.2B In Two Months

In this episode of China Money Podcast, listen to all the news headlines in the week of May 27 to June 1, 2018 with host Nina Xiang. Topics covered include China Money Network’s freshly released China VC Tracker for the month of May, how Chinese AI company SenseTime raised US$1.2 billion in a two-month period, and how the battle to gain an upper hand in omni-channel retail continues between Tencent and Alibaba. Be sure to subscribe to China Money Podcast …

China VC Tracker: Chinese VCs Made 284 Deals Worth $6.38 Billion In May 2018

Chinese venture capital activity saw a jump in the number of announced deals but total deal value dropped significantly last month from April because of the lack of mega deals. In May, 284 VC deals were announced worth an aggregate US$6.38 billion, compared to 209 deals worth US$15.59 billion in April, according to China Money Network’s China VC Tracker released today. China VC Tracker is produced based on proprietary data collected by China Money Network.

Former Autodesk Director Wang Lifeng Joins 51HiTech As CTO

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.

Singapore’s Temasek Leads $100M Round In Chinese Robotics Firm Rokid

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. The new round values the company at …

From University To Rising Star, How One Chinese AI Start-Up Aims To Make China "Smart"

Yao Song, founder of upstart Chinese artificial intelligence (AI) start-up DeePhi Tech, has a nickname: "Boss Yao". The 25-year-old Tsinghua University graduate has been on a winning streak so far. After securing a victory at a national physics competition championship, Yao was admitted into China’s top university to study electrical engineering without having to take the university entrance exam. While at Tsinghua, he chaired a prominent student science association and organized innovation competitions on campus.

Chinese AI Facial Recognition Firm CloudWalk Technology Raises 75M Series B Round

Shunwei Capital, Oriza Holdings and Puhua Capital have led a RMB500 million (US$75 million) series B round in CloudWalk Technology Co., Ltd., an artificial intelligence facial recognition firm whose technology is widely applied in the financial, public security and aviation sectors. Yuexiu Financial Holdings Group, Shenzhen Qianhai Xingwang Investment Co. and a fund co-invested by Galaxy Holding and Zhangjiang Group participated in the new funding round. Cloudwalk also received RMB2 billion (US$301 million) from the government of Guangzhou to set up …

China May Own More Artificial Intelligence Patents Than US By Year-End

China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.

China’s Venture, PE Sector Slows In July As Investors Remain Cautious

Venture capital deals in China saw a sharp slowdown in July as investors remain cautious in deploying capital to start-ups and companies. A total of 173 venture capital deals were recorded last month, down 21% from June, and 53% from July 2016. A total of US$2.6 billion was raised in July, a decline of 14% month-on-month, and 24% from a year earlier, according to data released by ChinaVenture.