China's Advantech Capital Partners Ltd. has led a US$65 million series B funding round in a two-year-old Chinese robotic start-up Rokid at a US$450 million valuation. Existing investor IDG Capital Partners and new investor Walden International also participated in the round. Founded in 2014 by Misa, formerly the head of Alibaba's advanced technology research unit […]
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In a short span of 13 months, over US$300 million in venture funding has been raised to support co-working space projects in China, as over half a dozen start-ups are vying to cater to growing demand for more flexible and collaborative work environment. More than 500 co-working space sites were set up in Beijing and […]
Another Chinese drone maker just got venture funding. Chinese social network Renren Inc has co-led a RMB72 million (US$11 million) series B funding round in Simtoo, a Shenzhen-based portable drone maker. Beijing Infinitas Interactive Media Co., Ltd. and Hanking Family Office also co-led the round. Founded in April 2015, Simtoo launched its debut product called […]
Chinese asset manager Harvest Global Investments and retail giant Intime Commercial (Group) Ltd. has invested a combined US$84 million in a series C+ round in U51.com, a credit card and online financial services mobile app. The round came just one month after the start-up raised a massive US$310 million in a series C round from […]
BlueRun Ventures has raised a U.S. dollar and a RMB-denominated fund totaling US$500 million to make early stage investments from angel to series A round in Chinese start-ups, the firm announced today. "BlueRun has focused on industry research-driven boutique investment strategy in the past ten years, and have invested in leaders such as Ganji, PPTV, […]
China has a shot at playing a leading role in the worldwide race to build connected cars, because Chinese consumers are young and keen to adopt advanced smart technologies, says a report released by PricewaterhouseCoopers. Roughly 30% of China's population were born between 1980 and 1990. Almost two-thirds of Chinese customers shop online once a […]
Hong Kong-based movie studio Shaw Brothers Holdings Ltd. has appointed Li Ruigang (pictured), founder of CMC Capital, as chairman and non-executive director to deepen cooperation with mainland film and entertainment industries. "I am honored to be the chairman of the Shaw Brothers Board, which is the most famous brand in the Chinese-language film industry and […]
LeEco founder and chief executive Jia Yueting must had a tough two weeks. Last week, LeEco could not show its anticipated electric smart car for its U.S. debut because the truck carrying "the car of the future" got into an accident while driving to the press conference. It was revealed this week that a construction […]