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Further confirmation that the esports market is booming amid the pandemic comes today with the news that esports “total solutions provider” VSPN (Versus Programming Network) has raised what it describes as “close to” $100 million in a Series B funding round, led by Tencent Holdings. SPACE in Seoul, South Korea.
Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. The new financing also comes two years after OPay announced two funding rounds in 2019 — $50 million in June and a $120 million Series B in November.
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WeRide, one of China’s most-funded startups developing autonomous driving capabilities, said on Wednesday that it has raised a $200 million strategic round from Chinese bus maker Yutong. Autonomous driving startups in China are racing to showcase their progress, in part to attract funding for their cash-bleeding businesses.
are increasingly going global, but recent regulatory crackdowns in China , which instructed local K-12 tutoring startups to go nonprofit, have led to a chill among check-writers looking at the country. based investors often cited China as validation of the opportunity for direct-to-consumer businesses in the K-12 world.
Denis Kalinin works at venture fund Runa Capital as Asia Business development manager, devoted to connecting the Western and Asian VC worlds and bringing long-term value to both. China is becoming a superpower in the tech industry. Despite geopolitical tensions and recent amendments in CFIUS, it is hard to ignore China.
But apart from China, most key startup countries and regions are seeing strong investor interest. Early data indicates that Africa is set to trounce historical records in terms of venture capital raised in the year and that the first half of 2021 saw roughly twice the funds raised by African startups as was recorded in the first half of 2020.
million in Series C funding led by Japanese human resources management firm PERSOL Holdings. Glints co-founder and chief executive officer Oswald Yeo said this is the largest funding round to date for a talent platform in Southeast Asia, and brings the startup’s total raised to $33 million.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here and me here. Ever wake up to just a massive wall of news? Shares fell.
The latest spate of bad news for China’s technology industry follows a raft of regulatory changes and actions by the nation’s government that have deleted an enormous quantity of equity value. Uncertain regulations, per Reuters. The Exchange explores startups, markets and money. Sectors hit the hardest include fintech and edtech.
Long before SoftBank launched its $2 billion Innovation Fund in Latin America, and before Andreessen Horowitz began actively investing in the region , Sao Paulo-based Kaszek has been putting money into promising startups since 2011, helping spawn nine unicorns along the way.
The crypto market is showing no signs of slowing down as funds and investors alike continue to deploy massive amounts of capital into the ecosystem. Today’s evidence of the trend: Dragonfly Capital, a crypto-centered investment firm, closed its third venture fund for $650 million, the firm’s managing partner, Haseeb Qureshi, told TechCrunch.
billion in its latest funding round, two years after it hauled in $1.9 ’s venture capital fund CapitalG. It was a time when China’s “sharing economy” craze began to see consolidation and shakeup. Uber sells $500M stake in its freight business as the ride-hailing giant works to conserve cash.
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.
Like many overseas Chinese, Derek Weng gets shopping requests from his family and friends whenever he returns to China. Many in China still uphold the belief that “imported products are better.” ” The demand gave Weng a business idea. “In China, it’s pretty significantly different.
Business, now more than ever before, is going digital, and today a startup that’s building a vertically integrated solution to meet business banking needs is announcing a big round of funding to tap into the opportunity. “We want to be like the Apple of business finance.” That involves two parts.
Source: United Nations Population Fund. 4) China currently has the highest population in the world, however, by 2050 India will be the most populated country at 1,676 million (compared to China’s 1,387 million). Source: Business Insider. 9) The white population in the United States will become a minority by 2044.
SPACs, a mechanism in which a publicly traded shell company merges with a private business, have taken the U.S. As the ink dried on that partnership, Einride quickly signed other marquee Swedish businesses including the food shipping and logistics company Lidl and the electronics manufacturer Electrolux. trucking market alone.
The economy may be showing many signs of contraction right now, but many companies still need to do business internationally. Now a startup providing the tools to make and manage those transactions is announcing some funding. And yet, given the current economic climate, this round was not without its struggles.
In China in particular, cross-border e-commerce represents a significant potential revenue stream for businesses of all sizes. What we are also seeing as a result is that Chinese businesses are innovative and creating whole new industries and whole new customer segments wherever they go. trillion, a 15.6% trillion, a 15.6%
Global investors are running from Chinese tech stocks in the wake of the government’s crackdown on Ant Group and Alibaba, two high-flying businesses founded by Ma Yun (Jack Ma) that were once hailed as paragons of China’s new tech elite. China postpones Ant’s colossal IPO after closed-door talk with Jack Ma.
is a facial recognition company with deep ties to Chinese police surveillance, and funding from US-based Sequoia Capital. Today the Commerce Department added it to its Entity List , which restricts US companies from doing business with listed firms without a special license. Sequoia did not immediately respond to a request for comment.
?. Hello and welcome back to Equity , a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Funds are maturing, experimenting and evolving into interesting vehicles. Funds are maturing, experimenting and evolving into interesting vehicles.
One of the big leaders in buying up and scaling third-party merchants selling on Amazon and other marketplace platforms is announcing a major round of funding today as it continues to expand its ambitions. businesses per week and now has some 200 brands in its portfolio. Upper90, funds managed by Oaktree Capital Management, L.P.,
Nreal , the well-funded Chinese AR headset maker that’s been making aggressive global expansion, said Thursday that it has raised $15 million from Korean sunglasses brand Gentle Monster ’s parent company, IICOMBINED. It only debuted in China, where it’s based, in August. the company said.
But for any e-commerce business to thrive, its last-mile delivery arm has to be well figured out. Bosta is one such company in Egypt helping small businesses with logistics and last-mile delivery. China and the U.K. He also claims that more than 2,200 businesses use its platform daily and achieve a 95% delivery success rate.
billion ($386 million) cash infusion from two investment firms controlled by the local governments of eastern Chinas Anhui province and its capital city Hefei, where the Chinese electric vehicle maker operates its manufacturing plants, according to public information. a China-based subsidiary of Nio Inc., NIO has received a RMB 2.8
Pakistan-based fintech platform, NayaPay , has raised $13 million in a seed round to rollout its multi-service messaging and payment app, and to build payment acceptance and financial management tools for businesses in the South Asian country.
Aruna announced today it has raised $35 million in Series A funding led by Prosus Ventures and East Ventures Growth Fund, with participation from SIG and returning investors including AC Ventures, MDI and Vertex Ventures. This helps them predict demand, guarantee return business and prevent overfishing.
For years, founders and investors in China had little interest in open source software because it did not seem like the most viable business model. The investment, which catapults Zilliz’s to-date raise to over $53 million, is a sizable amount for any open source business around the world.
Clothing, electronics, toys, automobiles, musical instruments, furniture — you name it and you’ll find a manufacturer in China who can turn your intangible concept into mass-manufacturable reality in mere days. China is also home to one of the world’s largest e-commerce and tech ecosystems. What’s different about Chinese D2C?
A Santa Monica-based direct-to-consumers (D2C) outdoor furniture startup company, Outer , announced today its $50 million Series B funding to help more people around the globe to bring their lives back outside. Existing investors, including Sequoia Capital China, Mucker Capital, Mantis VC and Reimagined Ventures, also joined in the round.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. There’s big news out from Flipkart this morning, thanks to its recent and huge new funding round worth $3.6
Now China’s embassy in India is saying that all of these investigations that India is doing into Chinese firms are bad for business. Check out that valuation : YuLife pumped up its valuation to $800 million after securing $120 million in new funding, Ingrid reports. Talk about your good business models! The advantages?
secured $425 million in Series E funding toward its goal to be “the primary source for food at home,” Larry Liu, Weee!’s Taking in the new capital was an intentional move for Liu, who wants to grow the business to the next level. SoftBank Vision Fund 2 led the financing and was joined by Greyhound Capital.
The fundraising is coming two years after OPay announced two funding rounds in 2019 — $50 million in June and $120 million Series B in November. Some of them include SoftBank, Sequoia Capital China, IDG Capital, SoftBank Ventures Asia, GSR Ventures, Source Code Capital.
The China Integrated Circuit Industry Investment Fund Phase III Co., referred to as the Phase III Fund) was registered on May 24, with a capital of RMB 344 billion ($47.5 billion), according to the National Enterprise Credit Information Publicity. Icsmart, in Chinese ]
AccelByte , a platform that helps game creators build backend services and tools, has raised $60 million in Series B led by SoftBank Vision Fund 2, with participation from Sony Interactive Entertainment and returning backers Galaxy Interactive and NetEase. To date, the startup has raised a total of $70 million.
As of 2019, 81% of all venture capital funds worldwide are clustered in just a handful of countries, primarily in the U.S., Europe and China, which in turn are shaping the future of technology. All businesses — including venture capital — have a responsibility to respect human rights.
Private equity fund AfricInvest FIVE co-led the Series C round with existing investors Goodwell Investments and LUN Partners Group. New investors CommerzVentures, Allan Gray Ventures, Endeavor Catalyst and Endeavor Harvest also joined the round , while ShoreCap III returned as an existing investor with other funds.
Deal of the week The battery business keeps attracting capital. million in pre-seed and seed funding round led by Augment Ventures with participation by Accion Venture Lab, TMV, Overton Venture Capital and Refashiond Ventures. Climate-tech fund Blackhorn, lithium-mining giant SQM and mobility-focused investor Proeza also participated.
The capital will be used on Gogoro’s expansion in China, India and Southeast Asia and further development of its tech ecosystem. Gogoro’s SPAC deal comes a few months after it announced major partnerships in China and India. Gogoro strikes deal with Yadea and DCJ to build a battery-swapping network in China.
Today, the company announced $15 million in Series A funding. Meru’s technology includes a marketplace and app that connects local and foreign manufacturers to the rest of the supply chain with a simple process and no price asymmetries, initially working between China and Mexico. To date, the company raised $17 million.
Company must have been operational for at least one year , with a clear business plan and vision. Strong Funding Secured angel-round investment with a valuation of over RMB 10 million (or equivalent). About Wteam Wteam is one of the few non-profit organizations in China that focuses on super-early-stage college student entrepreneurs.
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