China's Internet-of-Things (IoT) market is to grow at 41.1% compound annual growth rate and reach US$121 billion by 2022, according to a new research report by MarketsandMarkets. The major drivers behind the expansion of IoT hardware, software, platform, services and applications include growing demand for smartphone and other connecting devices, increasing Internet penetration, rising industrial […]
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China Investment Corporation has participated in a US$181 million series C financing round in Unity Technologies, a San Francisco-based video game engine maker. The round was led by DFJ Growth, with participation from Chinese venture firm FreeS Fund, Thrive Capital, technology entrepreneur Max Levchin, alongside existing investors Sequoia Capital and WestSummit Capital. Unity’s platform has […]
Ucar Group, a mobile app-based chauffeured car service unit launched by Chinese rental car company Car Inc., has been approved to list on China's New Third Board. The company applied to list in April after announcing a RMB3.68 billion (US$569 million) new financing round from Alibaba Group Holdings Ltd., China International Capital Corp, CITIC Securities […]
Chinese condiment maker Yihai International Holding, in which Yunfeng Capital owns a 6% interest, has completed an initial public offering in Hong Kong to raise around HK$861 million (US$111 million). Yihai, a unit span off from parent company popular Sichuan hot pot chain Haidilao Group, sold 260 million shares at the upper end of its […]