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Chinese AI startup Zhipu announced today that it has raised over RMB 1 billion ($140 million) in a new strategic funding round. Investors include Hangzhou government-backed firms, with the funds aimed at advancing Zhipus domestically developed GLM foundation model and expanding its AI ecosystem. million) in funding on Dec.
A lawyer for Xiaofeng Wang and his wife says they are safe after FBI searches of their homes and Wangs sudden dismissal from Indiana University, where he taught for over 20 years.
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.
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.
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Speaking at the Reagan National Defense Forum in Simi Valley, California, on Saturday (via BNN Bloomberg), Raimondo said her department needed more funding to address China's "rapidly growing" semiconductor markets to deny the country the most cutting-edge technology from the US. Read Entire Article
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.
Increasing geopolitical tensions have raised concerns that countries such as Russia, China, and North Korea could target subsea cables during a military crisis. Such a thing is not unprecedented; Yemeni Houthi rebels were suspected of damaging underwater Red Sea cables responsible for 17% of global internet traffic in February.
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.
The service employs more than 10,000 full-time riders under formal labor contracts and is gradually enrolling them in Chinas mandatory social security and housing fund programs. New merchants joining before May 1, 2025, will receive full commission waivers for one year.
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 toda y (link in Chinese) that it has raised a $1.6 billion Series E+ from investors including Alibaba Group.
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.
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.
Four months after its last funding announcement, Singapore-based e-commerce aggregator Rainforest has closed a $20 million pre-Series A round led by Monk’s Hill Ventures. million in equity and a $30 million debt facility to fund acquisitions. million in equity and a $30 million debt facility to fund acquisitions.
Indonesia-based eFishery announced today that it has raised what it claims is the largest round of funding by an aquaculture tech startup in the world. The funds will be used to scale up eFishery’s platform and expand into the top 10 countries for aquaculture, including China and India. Series B round.
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. The Chinese Uber for trucks Manbang announced Tuesday that it has raised $1.7
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.
a joint venture between Toyota China and GAC, a Chinese state-owned automaker. The few that remain — a small group of well-funded companies that are either publicly traded or owned by large corporations — are starting to scale up commercial operations, albeit slower than perhaps originally forecast.
As China pushes for leadership in robotics, this launch strengthens its position in the global humanoid robotics race. This year, UBTECH announced the establishment of the Humanoid Robot Research Fund with an initial RMB 10 million ($1.38 million) to support global universities and research institutions for development projects.
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
The round brings the outfit’s total funding to date to $13.7 China and Japan and intends to enter the U.S. funding for its AI-powered customer video review tool by Kate Park originally published on TechCrunch The startup just raised $8.1 million (10.5 million and it will be used to continue developing its video platform.
But as SoftBank continues to cut checks from its Vision Fund 2, we’re still seeing results trickle in from the time when the Japanese conglomerate was the world’s key startup backer thanks to its megasized Vision Fund 1. SoftBank’s Vision Fund 1 was, of course, also an investor in Uber. It’s complicated.
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 company soon attracted seed funding from Y Combinator and just this week, it announced the completion of a pre-A round of $2.5
Funds: Natasha’s coverage of fund-of-funds fit into news that SoftBank is turning one if its funds into an evergreen vehicle , and Alex chatted through the numbers about Series A, B and C rounds in the United States. Funds are maturing, experimenting and evolving into interesting vehicles.
AutoX, a four-year-old startup backed by Alibaba, MediaTek and Shanghai Motors, is deploying a fleet of 25 unmanned vehicles in downtown Shenzhen, marking the first time any autonomous driving car in China tests on public roads without safety drivers or remote operators. AutoX itself, for instance, has raised more than $160 million to date.
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).
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?
In the wake of a $300 million investment from General Motors in September, Momenta, an autonomous driving solution provider from China, announced today an additional $500 million added to its Series C round. Singapore’s sovereign fund Temasek and Jack Ma’s Yunfeng Capital are among its institutional investors.
Its goal then was to fund and bring more AI into its products, and improve its user experience. In the two years since, Yuanfudao has doubled its total users to 400 million students across China. Today’s funding suggests that it will push more live, online coursework and broaden out its closed loop system of learning.
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. Upper90, funds managed by Oaktree Capital Management, L.P., It said that it’s currently on a rate of buying 1.5
EMotorad, an Indian startup manufacturing electric bikes, raised $20 million in a Series B round as it aims to disrupt China’s market domination and expand its presence in global markets. The three-year-old startup has raised more than $22.5
The round was led by Zayn Capital; London-based investment firm, MSA Novo; global fund manager and Graph Ventures; an early-stage VC from Silicon Valley. The idea to launch NayaPay was born during Lakhani’s visits to China, where social messaging and payments apps like WeChat Pay and AliPay are commonly used.
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.
Check out that valuation : YuLife pumped up its valuation to $800 million after securing $120 million in new funding, Ingrid reports. More from us: This ain’t good : Zack and Carly teamed up to write about a big police data leak in China that may have exposed…basically every one of its residents. Talk about your good business models!
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. and headed home to start Zilliz in China. Zilliz ‘s latest financing round shows that attitude is changing. After six years as a software engineer at Oracle, Xie left the U.S.
This is an interesting day when we see two of China’s major robotaxi foes come together, offering a clue to how the industry is evolving in the country. As autonomous driving technology and regulations advance rapidly in China, ride-hailing platforms start looking for solutions to cut labor costs.
On August 24, Chinese phone brand Honor confirmed it had secured a new investment from leading Chinese telecommunications operator China Mobile, in what is expected to be the last round of funding before Honors IPO. Neither company has disclosed the value of the financing.
But not all funds are timid, even if we find the present lack of material wagers on mega-projects disappointing. No, some funds are bucking the downturn by raising new, huge venture vehicles to invest in markets that don’t appear healthy from an outsider’s perspective. Next up: a16z’s massive new crypto fund.
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.
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.
I want to start our formal Q1 2023 venture lookback with China. PitchBook recently dropped some numbers relating to venture capital funding in China for 2022, and I’ve augmented it with a quick scan of Chinese Q1 data from the same source.
Zhipu, one of Chinas most promising challengers to OpenAI, has completed a new funding round, raising 3 billion yuan ($412 million), according to Chinese media outlet 36Kr. The funds will be used to advance the company’s base model, expanding its capabilities from simple question answering to handling complex, multi-modal tasks.
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.
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