China

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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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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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Startupbootcamp Expanding Into China With The Launch Of Its First China-Based Programme

Startupbootcamp, a global network of industry-focused accelerator programmes, has announced its expansion into China with the launch of its first China-based programme. Focusing on scaling the country’s digital health entrepreneurs, the programme is a joint partnership between Startupbootcamp and Thinkzone — China’s first state-ranked private incubator that accommodates over 500 enterprises in mobile internet, software R&D, and digital media.
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Skyscanner Acquired By Ctrip

Skyscanner has been acquired by Chinese online travel giant Ctrip for £1.4 billion, or approximately $1.74 billion. Ctrip was founded in 1999, and it is China’s largest online travel firm. Its revenue for Q3 2016, came in at RMB 5.6 billion ($810 billion). Ctrip recently raised close to $1 billion from the sale of convertible notes.
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Beijing-Based Startup Getui Raised US$58 Million From Several Investors

Getui, a third-party push notification service provider announced Monday a RMB400 million (US$58 million) D round from several returning investors. Together with the funding news, the company rolled out Gexin, a mobile marketing platform that help local brands to engage customers more efficiently with specific demographics of their audiences, including age, gender, country, hobby, consumption habits and social networking features.
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