Nreal, a Chinese developer of ready-to-wear mixed reality devices, announced last Saturday that it has raised US$16 million in a series A+ round of financing led by a new economy-focused fund backed by Hong Kong-based financial services company China E…
Fintech News
Ant Financial Invests In Chinese Time-Sharing Auto Lease Start-Up Like Chuxing
Chinese car-sharing start-up Like Chuxing has secured a series B+ round of financing worth tens of millions of U.S. dollars from a group of investors including Ant Financial, the fintech unit of Chinese e-commerce giant Alibaba Group, according to a st…
Chinese Regulator Seeks To Rein In Local Bad Loan Managers
Chinese regulators are planning to introduce new rules – potentially the first regulation in the country’s bad loan disposal sector at the local level – to clarify the business scope of local asset management companies (AMCs), accordi…
Hong Kong Exchange To Lift Tech Capabilities By Acquiring Shenzhen-Based Fintech Firm
Hong Kong Exchanges and Clearing Limited (HKEX), the stock exchange operator in the Asian financial hub, has agreed to acquire a majority stake in a Chinese fintech company to bolster its technological capabilities, said HKEX in a statement released on…
Chinese VC Firm Qiming Pours Money Into Smart Pet Products Developer PETKIT
PETKIT, a Chinese brand specialized in producing smart products for pets, has raised a US$20 million series C financing round led by Chinese venture capital firm Qiming Venture Partners, said the investor in a statement released on its WeChat official …
Chinese NASH-Focused Biotech Firm Sciwind Biosciences Raises $29M Series A Round
Sciwind Biosciences, a Chinese drug research and development company for metabolic diseases, announced on Wednesday that it has raised a nearly RMB200 million (US$29.58 million) series A round of financing led by Beijing-based investment firm Legend Ca…
Self-Driving Truck Start-Up TuSimple Hits Unicorn Status With $95M Fresh Funds
TuSimple, an artificial intelligence (AI) enabled autonomous truck solutions provider, has secured a US$95 million series D round of financing led by Chinese internet magnate Sina Corp to bring its valuation to US$1 billion, according to a statement re…
Chinese Biotech Firm Magpie Pharmaceuticals Raises Nearly $15M In Series B Round
Guangzhou-based biotechnology company Magpie Pharmaceuticals announced on Monday that it has raised a nearly RMB100 million (US$14.8 million) series B financing round from Chinese venture capital firm Sangel Capital.
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Chinese Biotech Fir…
China Seeks To Lead The World’s 5G Race With Its First Smart Highway
China has debuted its first 5G smart highway project in the country’s central landlocked Hubei province in early February — the latest attempt made by China to drive itself into an era of transportation efficiency armed by the next generati…
BitMEX Ventures Leads Seed Round In HK Fintech Start-Up FinFabrik
Hong Kong-based fintech start-up FinFabrik has raised an undisclosed seed funding round led by BitMEX Ventures, an investment arm of BitMEX, owned by Seychelles-based HDR Global Trading Ltd, according to an announcement.
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BitMEX Ventures…