JD.com’s logistics unit JD Logistics has led an undisclosed series B round in in Chinese smartphone repair start-up Jikexiu.com, as a strategic cooperation.
Tencent Expands E-commerce Investment By Leading Hundreds Of Millions Of RMB In Haoyiku
China’s social media giant Tencent Holdings Ltd. has led a series B round worth several hundred millions of RMB in Hangzhou-based e-commerce platform Haoyiku.
Chinese AI Firm Yitu Technology Secures $100M From China Industrial Asset Management
One month after Yitu Technology scored US$200 million, the Chinese artificial intelligence firm secured another US$100 million from China Industrial Asset Management Ltd.
China VC/Tech News Weekly Roundup: Chinese Intra-City Logistics Firm Raises $250M, Recycling Start-Up Secures $150M
In this episode of China Money Podcast, listen to all the news headlines in the China venture and tech sector for the week of July 9 to July 13, 2018, with host Nina Xiang. Topics covered include 58 Suyun, a freight business unit under Chinese online marketplace 58 Daojia, securing US$250 million funding, and Tiger Global Management leading a US$150 million round in Aihuishou, a Shanghai-based smartphone and consumer electronics recycle start-up. Be sure to subscribe to China Money Podcast …
Author of Three-body Problem Joins IDG Capital As Chief Thinker
Liu Cixin, author of The Three-body Problem, will join IDG Capital as chief thinker, the later announced on its official WeChat account.
China VC/Tech News Weekly Roundup: China VC Tracker For June, Computer Vision Firm Trax Raises $125M
In this episode of China Money Podcast, listen to all the news headlines in the China venture and tech sector for the week of July 2 to July 6, 2018, with host Nina Xiang. Topics covered include Chinese VC Tracker for the month of June, where a monster round completed by Ant Financial drove monthly VC deal value over 300% more than that of May, and computer vision solutions firm Trax raising a US$125 million round from Chinese investment firm …
Matrix Partners Leads Series A Round In Chinese Rocket Start-up iSpace
Chinese rocket start-up iSpace has completed a series A round led by Matrix Partners China, bringing its total financing to RMB600 million (US$90.4 million) in this year, according to Matrix Partners’ announcement on its official WeChat account.
Legend Capital Leads $87M Series B Round In Inventory Distribution Platform Aikucun
Legend Capital has led a RMB580 million (US$87 million) series B round in Aikucun, an online platform that connects fashion brands and professional online shoppers to help brands reduce their inventories.
Tencent-backed E-commerce Platform Pinduoduo Files For $1B US IPO
Walnut Street Group Holding Ltd., which operates Chinese e-commerce platform Pinduoduo, seeks for a US$1 billion initial public offering in the U.S., according to its IPO prospectus. The document confirms Pinduoduo’s IPO rumour reported by China Money Network earlier this week. Founded in 2015 by former Google software engineer Colin Huang, Pinduoduo allows users to participate in group buying deals, mostly through Tencent’s WeChat. It targets low-income consumers from lower-tiered cities in China. In 2017, its gross merchandise value (GMV) …
Chinese E-commerce Platform Pinduoduo Rumored To Seek For US IPO
Chinese social media-based e-commerce firm Pinduoduo is said to seek for an initial public offering in the U.S. with a valuation of US$30 billion, according to Chinese local media citing insiders.
GSMA Announces Winners of 2018 Asia Mobile Awards
SHANGHAI–(BUSINESS WIRE)–The GSMA announced the winners of the 2018 Asia Mobile Awards (AMO
Awards), which were presented in series of ceremonies at Mobile World
Congress Shanghai this week. The awards honour achievement, excellence
…
China B2C E-Commerce Market 2018 – China Accounts for Half of Global Online Retail – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The "China
B2C E-Commerce Market 2018″ report has been added to ResearchAndMarkets.com’s
offering.
China is the world’s leader by combined B2C and C2C E-Commerce revenues,
generating almost …
NIO Capital Leads Series B Round In Chinese Parking Solution Provider AIpark
NIO Capital, the venture capital arm of Chinese electric vehicle start-up NIO, has led a series B round worth hundreds of millions of RMB in AIpark, a Beijing-based parking service company providing smart urban parking management system. The company also offers artificial intelligence-based stereo garage solutions.
Asia-Pacific Online Payment Methods 2018: Analysis for the Full Year of 2017 – E-Wallets Lead Online Payment Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The "Asia-Pacific
Online Payment Methods: Full Year 2017″ report has been added
to ResearchAndMarkets.com’s offering.
E-Commerce in the vast Asia-Pacific region is rapidly expanding, with
di…
China VC/Tech News Weekly Roundup: Vipkid’s $500M Series D+, AI Chip Maker Cambricon Raises Massive Round
In this episode of China Money Podcast, listen to all the news headlines in the China venture and tech sector for the week of June 18-22, 2018 with host Nina Xiang. Topics covered include Chinese AI chip maker Cambricon’s massive round worth several hundred millions of U.S. dollars, Vipkid’s US$500 million series D+ financing, and lots of other VC news and tech topics. Be sure to subscribe to China Money Podcast for free in the iTunes store, or subscribe to …
MetLife China and WeSure Launch Annual Aviation Accident Insurance Solutions
One Simple Click to Get Covered All Year Round
SHANGHAI–(BUSINESS WIRE)–MetLife China and WeSure, digital insurance platform owned by Tencent,
jointly launched an annual aviation accident insurance product, named “10-Million
…
Grand Shores Blockchain Fund Invests In Blockchain-Based Ride Hailing Project Chexianglian
Grand Shores Global Blockchain Ten-Billion Innovation Fund ( Grand Shores), a new investment firm founded two months ago by a Chinese entrepreneur and an ex-Alibaba employee, said it is investing tens of millions of U.S. dollars in a blockchain-based ride hailing project called Chexianglian, according to Chinese media reports.
CEC Capital’s Ran Wang: Valuation Of Chinese Start-Ups To Drop 30% To 50% In Six Months
In the next six months, the valuation of Chinese start-ups may drop on average 30%, or even 50% for some previously highly valued companies, because of a tightening of capital supply, said Ran Wang, chief executive officer of Chinese investment advisory firm CEC Capital Group.
Kuaidi Dache Founder Names His Blockchain Ride Hailing App As VV Share
After announcing to launch a blocckchain-based ride hailing app, Kuaidi Dache founder Chen Weixing disclosed on a WeChat post that he and his partner are officially naming the planned app as VV Share Blockchain Platform.
Free Admission to World-Class Magic Wonderland Fujikyu Highland from July 14th
TOKYO–(BUSINESS WIRE)–From July 14th, 2018, visitors to Fujikyu
Highland Park (hereinafter referred to as “Fujikyu Highland”) will
be exempted from the admission fee of 1,500 yen (approximately RMB 86).
Located in Yam…
Chinese AI Chip Maker Cambricon Raises Massive Funding Round Led By SDIC Venture
Chinese artificial intelligence chip maker Cambricon Technologies Corp Ltd. has raised a series B round worth several hundreds of millions of U.S. dollars led by SDIC Venture Capital, a subsidiary of state-owned investment holding group China Reform Holdings Corp Ltd, China State-owned Capital Venture Investment Fund and its sub-fund Guoxin Qidi Fund.
Beijing Subway To Consider Bio-Recognition Technologies To Improve Transport Efficiency
The Beijing subway system plans to introduce bio-recognition technology this year to reduce heavy passenger flow that sometimes lead to kilometers of long lines outside of busy stations, according to China Daily.
China VC/Tech News Weekly Roundup: Chinese AI Firm Yitu Tech Raises $200M, Baidu Prepares CDR Issuance
In this episode of China Money Podcast, listen to all the news headlines in the week of June 11-15, 2018 with host Nina Xiang. Topics covered include Chinese AI company Yitu Tech’s US$200 million venture round, Baidu Inc’s plans to issue China Depositary Receipts, and China Money Network’s efforts to compile a list of 50 leading Chinese AI companies to shed light on the industry. Be sure to subscribe to China Money Podcast for free in the iTunes store, or …
Chinese Smart Garbage Recycling Platform Xiaohuanggou Raises $164M Series A Round
Chinese online smart recycling platform Xiaohuanggou announced that it has raised a RMB1.05 billion (US$163.67 million) series A round from Beijing-headquartered asset management firm Zhongzhi Enterprise Group.
Hans Tung: Eight Lessons From The Rise Of Chinese Short Video App Douyin
What is the most popular app in China? You’re probably thinking WeChat. Though that might still be true, WeChat now has a serious challenger whose meteoric rise has taken China by storm (and WeChat’s owner Tencent by surprise). That is Douyin (抖音, literally “shaking sound” in Chinese), one of the most popular short video apps in China, as well as worldwide. It is owned by ByteDance (a.k.a Toutiao), an AI-driven media company in China and one of the world’s most …
500 Startups’ Bonnie Cheung: More Blockchain Projects Should Focus On Solving Inter-Chain Operability And Privacy Issues
Bonnie Cheung, a venture partner at 500 Startups, has read hundreds of blockchain whitepapers to screen for a select few that the early-stage investment firm and seed accelerator chooses to back. As things tend to progress with hyper speed in blockchain compared to other industries, 500 Startups has invested in enough projects to solve "the scalability" issue in a matter of four to five months. For now, she wants to see more projects focused on solving the two other key …
ICBC International, SPDB International Invest $200M Series C+ Round In Chinese AI Firm Yitu Technology
ICBC International Holdings Ltd, SPDB International and Gaocheng Capital have invested in a US$200 million series C+ round in Yitu Technology, a Shanghai-based artificial intelligence start-up specialized in the field of machine vision, big data and advanced hardware, according to Yitu’s announcement on its official WeChat account.
Chinese Digital Asset Investment Platform LendChain Raises Tens Of Millions Of RMB
Chinese distributed digital assets platform LendChain has raised tens of millions of RMB from Chinese blockchain company GXChain, Sydney-based blockchain firm Bitpei, Beijing-based investment fund PreAngel, Fission Capital, and others, according to GX Chain’s announcement on its official WeChat account.
Ant Financial Makes Strategic Investment In Chinese Checkout-Free Store Xingbianli
Alibaba’s fintech affiliate Ant Financial has made a strategic investment in Xingbianli, a checkout-free convenience store operator that focuses on placing snack bars in offices. The size of the investment in Sequoia-backed Xingbianli was not disclosed.
China VC/Tech News Weekly Roundup: Xiaomi CDR Issuance, Ant Financial’s $14B Massive Round
In this episode of China Money Podcast, listen to all the news headlines in the week of June 4-8, 2018 with host Nina Xiang and guest Fritz Demopoulos, founder of Queens Road Capital and co-founder of Qunar.com. Topics covered include Chinese smartphone maker Xiaomi Inc.’s dual listing in Hong Kong and in China via the newly implemented CDR program, Ant Financial’s massive US$14 billion new round, and how to keep up with shifting new tech trends in today’s world. Be …
Chinese Co-working Space Operator Nashwork Raises $78M Series B+ Round From Sino-Ocean Capital
Sino-Ocean Capital, the investment arm of real estate state-owned enterprise Sino-Ocean Group Holding, has led a RMB500 million (US$78 million) series B+ round in Chinese co-working space operator Nashwork.