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Zilliz raises $43 million as investors rush to China’s open source software

TechCrunch

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.

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Edtech’s venture-backed globalization pauses at China

TechCrunch

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.

China 99
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African fintech OPay is reportedly raising $400M at over $1.5B valuation

TechCrunch

Chinese-backed and Africa-focused fintech platform OPay is in talks to raise up to $400 million, The Information reported today. The $170 million raised so far came from mainly Chinese investors who have collectively begun to bet big on African startups over the past few years. billion, three times what it was worth back in 2019.

Nigeria 135
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Nvidia-backed CoreWeave slashes IPO size and price amid investor concerns

Fast Company Tech

The sale would raise about $1.5 Additionally, CoreWeave’s capital-intensive business model raises questions about sustainability, adding to broader market uncertainty. CoreWeave and some existing investors had initially aimed to sell 49 million shares in the offering priced between $47 and $55 each to raise as much as $2.7

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YC-backed LemonBox raises $2.5M bringing vitamins to Chinese millennials

TechCrunch

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.

China 127
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Google-backed Chinese truck-hailing firm Manbang raises $1.7 billion

TechCrunch

The Chinese Uber for trucks Manbang announced Tuesday that it has raised $1.7 It was a time when China’s “sharing economy” craze began to see consolidation and shakeup. Other participants were Hillhouse Capital, GGV Capital, Lightspeed China Partners, Tencent, Jack Ma’s YF Capital and more.

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Bosta raises $6.7M to expand e-commerce delivery business across Africa and MENA

TechCrunch

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. This investment comes a year after the company raised a $2.5 million round, which takes its total investment raised to $9.2

Africa 99