china business

Daily Digest

Febuary, 2021

Feb.26, 2021

1. EV-maker Li Auto generates strong profits as deliveries surge

2. Bilibili reports revenue increase of 91% in Q4, but widens loss

3. Fintech company 况客科技 Qutke.com raised 50 million RMB in Series C

4. SOSV Chinaccelerator portfolio Neufast, a Hong Kong-based HR tech startup, raised from women-focused VC firm Her Capital

5. Singapore’s social commerce startup Raena bags $9m in Series A round

6. Infra.Market becomes India’s newest unicorn with $100 million fundraise

7. Indian edtech startup Doubtnut raises $31m led by SIG, Lupa Systems

8. Warung Pintar buys Bizzy Digital for US$45M to create full-stack supply chain platform for Indonesia’s mom-and-pop stores

9. China’s Xiaomi adds manufacturing muscle in India to boost phone production

10. India’s social media company ShareChat eyes a USD 200 million round from Tencent

11. Affirm to launch buy now, pay later debit card

12. Fintech firm Klarna is raising $1 billion at a $31 billion valuation, sources say

Feb.25, 2021

1. China electric vehicles (EVs) sales grew 8% to 1.3 million units in 2020

2. Lalamove rolls out new safety measures, backpedals after passenger death

3. Bilibili’s CEO claims to achieve 400million MAU before 2023

4. Chinese diagnostics firm WuXi Diagnostics raises $150m in Series B round

5. Chinese semiconductor design startup AkroStar scores USD 62 million from Hillhouse and Sequoia

6. Plant-based food startup Next Gen lands $10M seed round from investors including Temasek

7. India approves $1 billion plan to boost IT product exports

8. Flipkart to shift its fleet to EVs, targets 25,000 units by 2030

9. Grofers reportedly mulling a merger with US-based Cantor Fitzgerald’s SPAC for Nasdaq listing

10. TikTok Is Ramping Up Its E-Commerce Engine Globally

Feb.22, 2021

1. Ride-hailing services accounts for a third of China’s taxi traffic

2. Xiaomi reportedly plotting electric car play

3. Didi’s biking-sharing unit Qingju 青桔 raises USD 600 million in Series B

4. China’s Black Lake raises $77M to give factories a digital upgrade

5. India: CarDekho seeks to raise funds to expand its used car retail biz

6. Indian edtech startup Leverage Edu banks $6.5m in series A round

7. High-speed internet connectivity firm Transcelestial bags $2m in funding

8. TransferWise rebrands as Wise ahead of an expected IPO

9. Restaurant-software provider Toast prepares for IPO

Feb.18, 2021

1. JD.com to spin off its shipping arm through a Hong Kong listing

2. Chinese e-commerce platform Dmall said to plan $500m US IPO this year

3. Tea brand Nayuki 奈雪的茶 said to go IPO in Hong Kong this year

4. Social product PicoPico closed 2 rounds of several million USD in 2020, invested by SIG, BAI and more

5. Qiming Venture Partners leads $15.5m Series C round in healthtech startup Liangyihui 良医汇

6. India’s decacorn Byju’s to acquire rival Toppr for US$150M

7. Prosus Ventures in final stages to invest $200m in Indian online pharmacy platform PharmEasy

8. India-based neobank Zolve nets $15m in Accel, Lightspeed-led round

9. Thai insurtech firm AppMan lands $4.6m in series A round

10. East Ventures, Traveloka join $1.1m round in Indonesian martech startup Member.id

11. Sinch acquires Inteliquent for $1.14B to take on Twilio in the US

12. Investing social network Public.com gets its horn after $220M Series D

Feb.9, 2021

1. China finalizes new anti-monopoly rules for tech companies

2. China Regulator Fines Online discount retailer Vipshop 3 Million Yuan for Unfair Competition Following Probe

3. Beijing court accepts ByteDance’s US$14 million lawsuit against Tencent, starts proceedings

4. TikTok Plans to Enter E-Commerce Business in 2021 with Livestream Shopping

5. TechNode Global raises $1 million from Kairous Capital, Nutty Capital, and SPH Ventures

6. SOSV MOX portfolio - Indian health tech startup Phable raises $12 million to serve patients with chronic conditions

7. Vietnam’s Vinfast gets nod to test self-driving vehicles on California streets

8. Lalamove shuts Philippines food delivery

9. Chinese electric scooter maker Niu in talks to supply Gojek

Feb.8, 2021

1. Top Three Video Streaming Giants; Youku, iQIYI & Tencent Video, co-Host First Virtual Cinema Project in China Amid Spring Festival

2. Alibaba Group Announces Offering of $5B Senior Unsecured Notes

3. Kuaishou Shares Jump 194% in Hong Kong Trading Debut

4. EV Maker NIO to Spend $850M to Purchase 3.305% of Subsidiary

5. India is restoring 4G internet in Jammu and Kashmir after 18 months

6. Malaysian MDEC seeks to encourage SMEs’ digitalisation with US$1.5M grant

7. Luckin Coffee Files For Bankruptcy In New York

8. Clubhouse tempts censorship in China

9. PayPal to wind down domestic payments business in India from April

10. SoftBank third-quarter earnings recovery seen driven by IPO boom

11. Ford boosts investment in electric and autonomous vehicles to $29 billion through 2025

Feb.5, 2021

1. China to lead Asia Pacific’s tech IPO boom in 2021 as well, says Indosuez

2. Ant Group restructures into a financial holding company, explores IPO revival

3. Alibaba guides market on US$5 billion debt sale ahead of pricing on Thursday

4. Chinese courier firm SF Holding eyes stake in $5b Kerry Logistics

5. Tencent leads USD 31 million Series C round into gene technology firm Vision Medicals

Feb.3, 2021

1. Ant Group reaches deal with China regulators on restructuring

2. Lenova Plans To List On STAR Board Within Months

3. Chinese edtech firms’ $7.8b fundraising frenzy masks some hard truths on profitability

4. Sequoia-backed Chinese baby care startup lands $108m in series B round

Feb.2, 2021

1. China Cancels Patent Subsidies In Effort To Boost Innovation

2. China Audio-Video Copyright Associate Asks Kuaishou To Delete Infringing Videos

3. Tencent Music Entertainment Group Acquires Additional Equity Interests in Universal Music Group

Feb.1, 2021


1. ByteDance Challenges Tencent’s Gaming Empire With Bigger Team And More Investments

2. Alipay, JD Digits, Didi remove all bank deposit products: report

3. Chinese Phone Maker Transsion Saw Profit In 2020 Up 47%

4. Chinese energy IoT platform Newlink Group bags $100m led by CMB International

5. India to move ahead with official digital currency, weighs ban of private cryptocurrencies

6. PE-backed education startups deploy “roll-up” strategy to win in lucrative Vietnam market

7. SOSV-backed edtech startup ELSA raises $15m in Series B

8. Xiaomi sues in US court to overturn Donald Trump’s ban on investing in world’s third-largest smartphone maker

9. Failed billionaire Jia Yueting’s electric car dream rekindled as Geely and other investors come to the rescue of Faraday Future

10. SoftBank’s Son expects mass production of driverless cars in 2 years

11. Elon Musk's explosive SpaceX rocket test reportedly violated its FAA license

12. Robinhood raises $1B after trading halts to keep its platform running