Fangdd, a popular Chinese real-estate platform announced they had closed a series C funding of $223 million USD led by Fountainvest Partners this July. The company announced series B funding of $80 million USD just two months ago from Vision Knight Capital China Fund, Lightspeed China Partners, and CDH Venture Partners. The Chinese government has recently eased restrictions on owning multiple […]
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Apple Pay Has Silently Entered China
Apple Pay, the mobile payment service launched alongside the iPhone 6 last has finally made headway in China. Jian Danian, the Vice Chairman of Shanghai Pilot Free Trade Zone said at an event that Apple Pay as “a new business mode” has already been launched within the Shanghai Special Economic Zone, beginning some operations in June, according to […]
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Intel Reveals A $67M Investment In 8 Chinese Tech Companies Ahead Of Xi Jinping’s U.S. Visit
Intel has reiterated its commitment to China’s tech ecosystem, revealing they have injected $67 million USD into eight startups across China, including Ninebot, the company that acquired Segway earlier this year. The company announced the full list of startups in a statement released on Thursday. Other focus areas for the investment include OpenStack solutions, smart device hardware […]
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Chinese Electric Super Car Looking To Seal $1B To Take On Tesla
NextEV, one of China’s most promising electric car innovators, has already raised half of the $1 billion it is seeking to take on U.S. rival Tesla. It comes as a handful of Chinese companies are investing heavily into the electric vehicle industry. The Shanghai-based company’s latest round has been joined by Sequoia Capital and Joy Capital, […]
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Lyft Gets A $100M Stamp of Approval From China’s Largest Ride-Hailing Startup
Lyft, the San Francisco-based ride-hailing company with a pink mustache, has announced a partnership with China’s largest player in the industry, Didi Kuaidi. It comes at a time when Didi’s presence in the market is intensifying, and mutual rival Uber attempts to gain traction. Didi Kuaidi has confirmed that it contributed $100 million USD to Lyft’s […]
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Join Us At TechCrunch Beijing To See What’s New About The Dragon’s Web
When I participated the Paris Le Web conference back in 2006, I was really excited about a China-themed panel called the The Dragon’s Web, dedicated to China’s internet landscape. However I was disappointed to find the whole conversation was completely focussed on the firewall and China’s copycat culture. In the past decade, the middle kingdom […]
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Car Inc. Leads $550 Million B Round In Chauffeured Car Arm Shenzhou Zhuanche
Hong Kong-listed car rental service CAR Inc. today announced that it has injected US$50 million in Series B funding of UCAR, the operator of its chauffeured car unit Shenzhou Zhuanche in exchange for 443,263 shares in the company. Following this deal, Car Inc. will hold approximately 9.9% of the total issued and outstanding shares of UCAR. Other […]
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China’s O2O Craze Expands On Campus
Online-to-Offline (O2O) services have been all the rage in China as citizens are hunting for solutions to urban life. While the model is transforming all industries, Chinese tech startups are expanding the O2O craze to a particular demographic: university students. China has nearly 30 million university students now thanks to the enrollment expansion program launched […]
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Infant Care E-commerce Site Mia Scores $150 Million Series D
Infant care online retailer Mia, formerly known as Miyabaobei, announced that it has received a $150 million USD series D funding led by Chinese search giant Baidu at a nearly $1 billion valuation. Other investors include existing backers of Sequoia Capital, H Capital and several unnamed U.S. private funds. The round will push the company’s total […]
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Korea’s Beauty Tech Startups Thrive As Traditional Industry Stumbles
Four seasoned Korean startups pitched their to the China market this week in Shanghai museum after a three-month long acceleration program in China. All of them had a common feature that might just give them the edge in a tough economy. While Korea’s 13 top export items like cars, chemicals and steel have seen a decline with slowing […]