Categories China

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Autonomous driving startup Uisee attracts Chinese state investor in $150M round

There is no lack of state funding for China’s smart driving startups nowadays as the country advances its goal to become a global leader in artificial intelligence in a decade’s time. The latest to get a financial boost is Uisee, a Beijing-based company founded by a group of tech veterans […]

WeChat advances e-commerce goals with $250B in transactions

WeChat continues to advance its shopping ambitions as the social networking app turns 10 years old. The Chinese messenger facilitated 1.6 trillion yuan (close to $250 billion) in annual transactions through its “mini programs,” third-party services that run on the super app that allow users to buy clothes, order food, […]

California vegan egg startup Eat Just yokes itself to China’s fast food chain

Eat Just, a food startup from San Francisco making chicken-less eggs, has ambitions to crack the Chinese market where consumer appetite for plant-based food is growing and other Western vegan substitute brands like Beyond became available in recent quarters. The startup said this week it will be suppling to fast-food […]

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China’s adaptive robot maker Flexiv raises over $100 million

As businesses around the world look to automate production lines and supply chains, companies making the robots are attracting great investor interest. The latest to get funded is Flexiv, which closed a Series B round north of $100 million from investors including China’s on-demand services giant Meituan, TechCrunch learned. Other […]

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From the U.S. to China, Korea, India and Europe, antitrust action against tech is gaining serious momentum

After decades of global expansion and consolidation in the tech sector, antitrust is now a headline issue for the industry across the world. What has been a slow and sputtering series of disparate actions over the past decade has coalesced in just the past few weeks into a rapid and […]

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Tencent backs Chinese healthcare portal DXY in $500M round

DXY, a 20-year-old online healthcare community for Chinese consumers and healthcare organizations like Pfizer, announced this week that it has raised $500 million in a new round led by private equity firm Trustbridge Partners. Existing backer Tencent and Hillhouse Capital also participated in the round, which lifted the firm’s total […]

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Chinese online education app Zuoyebang raises $1.6 billion from investors including Alibaba

The rivalry between China’s top online learning apps has become even more intense this year because of the COVID-19 pandemic. The latest company to score a significant funding round is Zuoyebang, which announced today (link in Chinese) that it has raised a $1.6 billion Series E+ from investors including Alibaba […]

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China lays out ‘rectification’ plan for Jack Ma’s fintech empire Ant

What a whirlwind holiday for Jack Ma and his fintech empire. The People’s Bank of China, the country’s central bank, summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to “rectify” its regulatory violations. The meeting came less than two months after […]

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On-demand logistics company Lalamove gets $515 million Series E

Lalamove will extend its network to cover more small Chinese cities after raising $515 million in Series E funding, the on-demand logistics company announced on its site. The round was led by Sequoia Capital China, with participation from Hillhouse Capital and Shunwei Capital. All three are returning investors. According to […]