China

Shansong

Chinese startup Shansong Express Announced A US$50 Million Series C Led By SIG Asia Investment And Yi Capital

Shansong Express, a Chinese startup that provides intercity courier services, has announced a US$50 million series C  led by SIG Asia Investment and Yi Capital. Prometheus Capital, a fund backed by Wang Sicong, the son of Chinese billionaire Wang Jianlin, also participated. The funding is earmarked for standardizing its services and expanding into more cities.
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CoAssets Invests US$145K In Fujian-Based Crowdfunding Startup Da Xian Bing

Australian Stock Exchange (ASX)-listed startup CoAssets today announced that it has made a RMB1 million (US$145,000) strategic investment in Fujian-based crowdfunding startup Da Xian Bing, for 10 per cent of the company, with 60 percent to be recouped from CoAssets’ joint venture partner Fujian Yaosheng. CoAssets is looking forward to increase its China user base by 300,000 within six months.
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Chinese internet company LeEco Landed US$2.4 Billion In Fresh Funding

Chinese internet company LeEco announced Sunday that it landed RMB16.8 billion (US$2.4 billion) in fresh funding led by China’s real estate titan Sunac China Holdings Ltd. Sunac will become the company’s second-largest shareholder after the deal. This hefty round would definitely ease the capital pressures the company has faced and to rebuild confidence in its investors
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Chinese Tech Giant Baidu Opens AR Lab

Chinese tech giant Baidu is making use of its artificial intelligence research- through augmented reality. Today, the top search engine firm unveiled its AR Lab, a spin-off from its Institute for Deep Learning. Baidu plans to use its new Beijing lab, as well as technology from its AI research- image recognition, object detection, and more- to build smartphone-based AR applications.
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Online Talent Crowdfunding Platform hahow Raised Funding To Accelerate Expansion

hahow, an online talent crowdfunding platform based in Taiwan, announced the completion of US$316,000 angel funding from Cherubic Ventures, an early stage technology-focused venture capital firm. With the acquisition of the funding, they are able to better optimize the user interface and add more interactive features to make learning more interesting. They are going to accelerate expansion in Taiwan.
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WeChat Rolling Out ‘Mini Programs’

China’s top messaging app, with over 840 million active users, is trying something radical. WeChat is today rolling out “mini programs,” embedded apps which require no download or install. Mini programs are deliberately meant to be discovered socially through friends or in the real world by scanning QR codes. There is no official app store for mini program.
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mobike

Smart Bike-Sharing Company Mobike Raises US$215M For Expansion

Mobike, smart bike-sharing company in China, announced today that it has closed US$215 million in Series D financing round led by strategic investors, Chinese internet giant Tencent and leading Private Equity firm Warburg Pincus. New strategic investors in this round include China’s largest travel company Ctrip, global leading private equity firm TPG, and China’s leading hotel operator Huazhu Hotels Group.
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