china business

Daily Digest

January, 2021

Jan.29, 2021

1. Didi reports 60 million daily trips globally for 2020

2. Computer vision unicorn SenseTime closes pre-IPO round

3. Hong Kong retail investors amass $50b in loans for IPO of Kuaishou Technology

4. Xinheyun 新核云, cloud MES service provider for auto and manufacture industry, raised 150million RMB in Series B+

5. Indonesia-based Ula, a wholesale e-commerce marketplace for small business owners, raised $20 million in a Series A

6. India’s startups beat COVID-19 odds to raise $11.6b in 2020

7. Microsoft’s VC arm leads $9m round in US, Malaysia-based motion graphics firm LottieFiles

8. Coinbase plans to go public through a direct listing, following Spotify, Slack and Palantir

9. Mental Health Benefits Provider Lyra Health Boosts Valuation to $2.3B With Latest Raise

10. Nubank, the Brazil-based upstart online bank, has reportedly raised $400 million in Series G

Jan.28, 2021

1. Shanghai adds advanced chip production to its 2021 priority list along with Tesla, digital currency

4.Chinese VC firm Qiming raises $433m in final close of its yuan-denominated fund

6. Alibaba-backed AutoX Rolls Out Fully Driverless Robotaxis in Shenzhen

9. OnePlus Co-founder Carl Pei Obtains $7M Financing For New Startup Nothing

4. Ant Group to sell US-based biometric security firm EyeVerify, report says

5. Tencent buys minority stake in French games maker Dontnod for $36.4m

6. TikTok cuts jobs in India, not clear if it can make a comeback after prolonged ban

Jan.27, 2021

1. Ant Group’s IPO could be revived after ‘problem solved’, hints China’s central bank governor

2. ByteDance’s revenue doubled to $37b in 2020

3. Chinese online training platform Yunxuetang 云学堂 raises $100m from Tencent

4. Indonesia's fintech OVO rolls out new affordable investment product to consumers

5. Malaysia's e-fulfillment company iStore iSend secures $5.5m Series B

6. Lendela bags US$2M pre-Series A to expand consumer credit platform in Singapore, Hong Kong

7. BlackRock to vote against directors, flag companies for sale that are slow to address climate change risks

8. Alphabet and Facebook rise after Microsoft reports surprisingly strong advertising revenue

9. Snap looks to enhance augmented reality features with acquisition of British research lab Ariel AI

10. Sila Nanotechnologies raises $590M to fund battery materials factory

Jan.26, 2021

1. Tencent Market Value Near $1 Trillion

2. Chinese Self-Driving Startup Uisee Raises RMB1 Billion

3. Chinese edtech firm Huohua Siwei 火花思维 nets over $400m in Series E round

4. SoftBank-backed travel platform Klook raises $200M amid COVID-19

5. India Permanently Bans 59 Chinese APPs Including Tech Giants TikTok and Wechat

6. Indian social commerce app Kiko TV scores SOSV backing

7. Grab to raise $2b in US IPO in second half of 2021, picks bankers

8. SEA group’s Shopee scales up Brazil ops, evaluates Latam potential

9. Vietnam’s Vingroup to raise $304m via bonds for phone, auto units

10. Slack-backed startup Voicemail Yac raises $7.5 million

Jan.25, 2021

1 China doubles new renewable capacity in 2020 and raises thermal plants base to five-year high

2. Huawei moves into smart vehicles as US sanctions stymie 5G and semiconductor ambitions

3. Geely Obtains FAA Certificate For Flying Cars

4. Chinese AI Unicorn 4Paradigm Raises $700 Million Mega Pre-IPO Round

5. Qualcomm's chip market share plunges in China after Huawei sanctions

6. Indonesia seeks to ease foreign investment rules on startups

7. CapBay bags US$20M Series A to scale its multi-bank supply chain finance, P2P financing platform

8. Raising new funding round, Indonesia's TaniHub Group Agritech claims 600+ per cent gross revenue growth in 2020

9. SoftBank’s planned sale of chip maker Arm to NVIDIA is hitting antitrust walls globally

10. Indian stock exchanges approve $3.4B Reliance and Future deal in setback for Amazon

Jan.22, 2021

1. China to pump USD 1.6 trillion into tech infrastructure through 2025

2. Chinese EV giant BYD seeks US$3.9 billion from Hong Kong stock placement

3. Chinese esports player VSPN closes $60M Series B+ round to boost its international strategy

4. Chinese personal care brand Make Essense bags $23m in series B round

5. Chinese vaping firm RLX raises $1.4b in US IPO

6. TNG Digital, a Malaysian e-wallet operator owned by CIMB Group and China’s Ant Group, eyes $150m

7. Indian healthtech firm Pharmarack to raise $13.7m by February

8. India: TikTok alternative Bolo Indya in talks to raise up to $7m

9. Toyota-backed air taxi startup Joby explores deal to go public through SPAC merger

10. TripActions Nabs $155M For Travel Management

Jan.20, 2021

1. WeChat advances e-commerce goals with $250B in transactions

2. Alibaba Wins 432,000 yuan in Damages in Music Copyright Lawsuit against Tencent

3. TikTok sister app Douyin launches payment service

4. China’s Geely ties up with Tencent on smart car tech

5. India's commerce platform Dunzo secures $40m funding from Google, Lightbox and others

6. China’s $1t sovereign fund revamps overseas investment committees

7. India considers revising foreign investment rules that could hit Amazon

8. Spacemob founder Turochas Fuad launches BNPL startup ‘Pace’ with a high 7-figure seed funding led by Vertex

9. PUBG maker Krafton mulls potential IPO this year

10. PPRO nabs $180M at a $1B+ valuation to bring together the fragmented world of payments

Jan.19, 2021

1. Smartisan founder’s dream of beating Apple dies as ByteDance suspends smartphone business

2. Kuaishou to open books for $5b IPO in Hong Kong next week

3. Chinese edtech platform Jiliguala nets $100m Series C from Tencent

4. Southeast Asia’s Grab said to consider US IPO this year

5. Flipkart doubles down on rewards program, partners with 5,000 retail outlets in India

6. SoftBank-backed India’s homegrown messaging app Hike shuts down

7. Trump’s Cold War with China’s Huawei Halts Intel’s Supply to the Telecom Giant

8. Google defends its partnership with Facebook, denies states' claim of anticompetitive advantage

9. Apple sued to remove Telegram from App Store over anti-Semitic posts

10. Richard Branson’s Virgin Orbit successfully blasts satellites into space after failed first attempt