Chinese automotive marketplace TuanChe Ltd is planning to raise US$38 million in a downsized initial public offering (IPO) in the US, according to the company’s filing with the US Securities and Exchange Commission.
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Chinese Auto R…
Ant Financial Backs Indoor Positioning Service Provider Shuwei’s Series B+ Round
Chinese indoor positioning service provider Shuwei has raised an undisclosed amount in series B+ round of financing from Ant Financial, an affiliate of Chinese internet giant Alibaba Group.
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Ant Financial Backs Indoor Positioning Servic…
China Cracks Down On Reports Of Petrochemical Leakage In Quanzhou
Fishermen in China’s Quanzhou city, Fujian Province suffered a petrochemical raw material leakage in the early morning of November 4. But not many people elsewhere in China knew of it as reporting on the incident has been tightly controlled.
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Grab Gets $50M Strategic Investment From KBank To Launch Mobile Wallet GrabPay In Thailand
Singapore-based ride-hailing start-up Grab Holdings Inc. has raised US$50 million in a strategic investment from Thailand-based financial firm KASIKORNBANK (KBank) with the aim to launch a co-branded mobile wallet GrabPay in Thailand, according to an a…
China’s Semiconductor Start-Up Precision Intelligence Raises $11M In Series A Round
Precision Intelligence, a Chinese semiconductor devices provider, has raised RMB80 million (US$11.54 million) in series A round of financing from alternative investment fund manager CDH Investments and venture capital firm Yunqi Partners.
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Hyundai Motor Pumps In $250M In Ride-Hailing Firm Grab
Southeast Asia’s ride-hailing firm Grab Holdings has inked an agreement with South Korea’s auto maker Hyundai Motor Group to receive US$250 million investment, as Hyundai targets to raise stakes in the new-era transportation market, accordi…
Are Chinese AI Companies And Its 14 Unicorn Leaders Turning Into VC Investors?
There are 14 Chinese AI companies valued at US$1 billion or more as of now. In other words, all of the world’s AI unicorns resides in China, as there are no other AI companies elsewhere with valuations crossing that magical benchmark, according t…
Geely, China Aerospace Firm CASIC Join Hands To Develop Supersonic Trains
Zhejiang Geely Holding Group, the Chinese automaker that owns Volvo and Lotus, said on Tuesday that it has sealed an agreement with Chinese state-owned high technology firm China Aerospace Science and Industry Corp (CASIC) to jointly develop “supersoni…
Intel Capital Makes Strategic Investment In Chinese Healthcare AI Firm HuiyiHuiying
HuiyiHuiying, a Chinese artificial intelligence start-up focused on medical imaging recognition, has raised a strategic investment led by Intel Capital with participation of Beijing Singularity Power Investment Fund, the company announced today.
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China’s Third-Party Payment Licenses Cost Plummets By Nearly Half
The price of third-party payment licenses dropped nearly 50% during the first half of the year, with Chinese internet giants Alibaba and Tencent taking major chunk of the market share.
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China’s Third-Party Payment Licenses Cost Plu…