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China appears to be pursuing a calculated effort to recruit recently laid-off U.S. federal agencies, including the Centers for Disease Control and Prevention (CDC) and the National Institutes of Health (NIH), following funding reductions by the Department of Government Efficiency (DOGE). Additionally, former U.S.
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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.
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 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.
OTV (formerly known as Olive Tree Ventures), an Israeli venture capital firm that focuses on digital health tech, announced it has closed a new fund totaling $170 million. The firm also launched a new office in Shanghai, China to spearhead its growth in the Asia Pacific region.
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated up to $2 billion went into African tech startups in 2019. AfricArena, a tech ecosystem accelerator, pegged deals to close between $2.25
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?
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.
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.
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.
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.
WritePath make the process faster and scalable by combining its AI tech with human translators. The Taipei-based startup’s clients include Foxconn, ASUS, China Airline, the Taiwan Stock Exchange and Taiwan Mobile. WritePath announced that it has raised $340,000 in pre-Series A funding, led by Quantum International Corp.
ImToken , the blockchain tech startup and crypto wallet developer, announced today it has raised $30 million in Series B funding led by Qiming Venture Partners. Founded in 2016, the startup’s last funding announcement was for its $10 million Series A, led by IDG, in May 2018.
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.
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 myself here. Our live show is this week!
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.
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.
But China and the United States are far from the only technology markets with developed startup and incumbent cohorts, strong venture capital activity, and capital markets able to translate early-stage ideas into public companies. China issue. The Angular Ventures report includes data from Israel, an active deep tech market.
IPO is one of several key moments of the recent regulatory shift inside China regarding its leading technology companies. Bloomberg reports that China is considering removing the VIE loophole that allowed Chinese companies to list in the United States, closing a method by which local companies could access foreign capital.
Maybe it is a stock market bubble, or a tech-stock bubble at least. Here’s the blow-by-blow coverage of the craziest tech IPO week in the craziest (IPO) year in decades, resuming from where I left off last Friday: DoorDash amps its IPO range ahead of blockbuster IPO (EC). Subscribe here. And maybe DoorDash, Airbnb and C3.ai
Coral Capital , a Tokyo-based venture capital firm, announced today that it has closed its third fund, Coral Capital III, raising $128 million (14 billion yen). we also allocated a significant portion of our latest fund for follow-on investment,” Riney said. LINE Ventures merges with YJ Capital, launches $271M fund.
a joint venture between Toyota China and GAC, a Chinese state-owned automaker. Going forward, Toyota says it’ll give Pony an unspecified number of its EVs, while Pony will outfit them with autonomous-driving tech and the firm’s “robotaxi network platform.”
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. It was just a matter of time until an intrepid Chinese entrepreneur with a tech background decided to take on Coca-Cola and PepsiCo.
Unlike other emerging economies such as China, India and Indonesia, which have embraced digitization and technology, Pakistan has trailed the region in the adoption of technology and startup formation. Pakistan, the world’s fifth most populous country, has been slow to adapt to the internet economy. Unlocking Pakistan’s potential.
With Grab’s announcement of its imminent Nasdaq listing and GoJek merging with Tokopedia to form tech giant GoTo , casual international observers could be forgiven for believing that Southeast Asia’s tech universe only comprises similar companies. Unsurprisingly, tech startup growth is booming as well.
The US Department of Commerce has sanctioned 14 Chinese tech companies over links to human rights abuses against Uyghur Muslims in Xinjiang, including one backed by a top Silicon Valley investment firm. is a facial recognition company with deep ties to Chinese police surveillance, and funding from US-based Sequoia Capital.
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. Japan, South Korea, Spain, and Germany.
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
Check out that valuation : YuLife pumped up its valuation to $800 million after securing $120 million in new funding, Ingrid reports. Roe reversal weighs heavily on emerging tech cities in red states. Roe reversal weighs heavily on emerging tech cities in red states. Big Tech Inc. Talk about your good business models!
The result of the government fusillade against some of the best-known companies in China was falling share prices. Could regulatory changes shake up the venture model that helped grow the country’s largest tech concerns? That will slow, at least in China. China had a reasonably good Q2 2021 despite the turmoil.
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
secured $425 million in Series E funding toward its goal to be “the primary source for food at home,” Larry Liu, Weee!’s SoftBank Vision Fund 2 led the financing and was joined by Greyhound Capital. learned from China’s tech giants. s founder and CEO, told me. s board of directors. “We What grocery startup Weee!
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. The platform currently has about 20 product categories and will use its funding to expand into more.
The incident sparked a social media firestorm in China, and Beijing dispatched officials to Thailand to coordinate operations targeted at breaking up scam hubs like Myawaddy and rescuing scores of its citizens, many of whom now have been flown home. “We have to discharge people as quickly as possible,” Thatchai said.
With their services more relevant than ever during the COVID-19 pandemic, the startup announced it has raised $14 million in new funding. Global premiums initially shrank, but research by Swiss Re predicts the insurance industry will recover by next year, led by demand in China.
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).
The Gen Z Innovations: The New Force list celebrates how the next generation is tackling global challenges with tech-driven solutions, driving societal progress and inspire more young innovators to boldly pursue their dreams and collectively build a better future. Steady Revenue Annual revenue exceeding RMB 1 million (or equivalent).
The capital will be used on Gogoro’s expansion in China, India and Southeast Asia and further development of its tech ecosystem. The capital will be used on Gogoro’s expansion in China, India and Southeast Asia and further development of its tech ecosystem.
However, over the last one decade, tech solutions are emerging to bring efficiency into the sector and make shipping cheaper, while increasing the availability of options for shippers. Amitruck , a Kenyan tech-enabled logistics platform, is one such provider of solutions that streamline the shipping market. The opportunity is massive.
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.
New data from China’s private market, sharper central banking forecasts, sliding tech shares and rampantly bullish funding rounds make today’s startup cocktail even more confusing than what we saw a week ago. The was, it seemed, a rising gap between the level of bullishness in the private and public markets.
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.
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