Enovate Motors, Chinese electric vehicle startup, has closed $298 million investment in Series A funding round from different public companies and government funds. With the latest investment, Enovate has so far raised over RMB 6.5 billion ($760 million) in funding since it was founded in mid-2018. Enovate began construction on its first 5.1 billion yuan electric car factory in March 2019
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Kunlun Tech likely to invest $50 million in Pony.ai
Kunlun Tech, China has plans to invest $50 million in Pony.ai, autonomous driving technology startup against 3% stake in it. Pony.ai, co-founded by former Baidu executives, claims to be the first to offer fully self-driving car rides to the public in China. It did a soft launch of an autonomous ride-hailing fleet in Guangzhou in February 2018. It was also the
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Bangladesh seeking investment From US in Energy
Bangladesh is actively seeking investments from US in the energy sector through the Indo-Pacific Business Forum. This is viewed as a counter mechanism to popular Belt and Road (BR) initiative by China. Our Foreign Minister Dr AK Abdul Momen has had meeting with US Secretary of State, Mike Pompeo in which Mr. Momen asked Mr. Popeo to invest in Bangladesh's
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Source Code Capital raises $570 million
Founded by former Sequoia Capital China partner Yi Cao, Source Code Capital, Beijing based venture capital firm, has closed Source Code Venture IV and Source Code Growth Fund I. The total commitment brought to these funds is around $570 million. The closing of the two funds brings Source Code Capital’s total capital under management to $1.8 billion.
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Zhongneng United gets backed by Source Code
Zhongneng United, equipment rental firm, has raised $50 million in Series B funding round led by Beijing based venture capital firm Source Code Capital. The startup also raised CNY 60 million in Series A funding round led by Chinese venture capital firm Buhuo Ventures.
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Intel Capital backs Cloudpick, EEasy Tech
Intel Capital has made new investments of $117 million in 14 tech startups such as China’s Cloudpick Limited & Zhuhai EEasy Technology Co and Israel’s proteanTecs. Other startups are from US that come from communitions, healthcare and manufacturing industries. Intel Capital makes $300-$500 million investment every year in potential innovative companies around the globe.
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Blue Mobile raises funds in Series C round
Blue Mobile, a southeast Asia based vending machine and payment platform, has raised an undisclosed amount in Series C round led by online payment giant Ant Financial. Established in 2014, Blue Mobile started its business in China and has expanded its subsidiaries across Thailand, Vietnam, Malaysia, and Indonesia. Blue Mobile has got over 6,000 smart vending machines throughout Indonesia and Thailand
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Yipinshengxian raises $297 million Series B
Yipinshengxian, Chinese fresh food retailer, raises $297 million in Series B funding led by internet giant Tencent Holdings. Other participants included Capital Today, Eastern Bell Venture Capital and Longzhu Capital, the investment arm of Chinese unicorn Meituan-Dianping.
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Shuidichou raises $74 million
Shuidichou, Chinese crowdsourcing platform, has raised around $74 million in Series B funding round led by Tencent Holdings, an Internet Giant. Other participants included existing investor Gaorong Capital, IDG Capital, DST Global founder Yuri Milner.
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Mollybox secures $13 million in Series B
Mollybox, a Shanghai based e-commerce platform for cat food, has raised $13 million in Series B round led by DCM and Mars-backed venture capital Digitalis. Other participants included Unity Ventures, Seek Ventures, FJ Labs, Tekton Ventures and Long Capital.
The startup has developed a unique business model in China’s pet food sector by launching a subscription-based service, which allows its 30,000 subscribers
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Hunliji raises $70 million from Orchid Asia and others
Hunliji, a Chinese wedding services provider has bagged $70 million in Series D1 round led by Orchid Asia Group Management, an investment firm. Other investors include Matrix Partners China, China Money Network.
Founded in 2013, Hunliji also raised $65 million in Series C round on March of last year. The company provides online and offline wedding-related services including banquet, filming, planning, car rental,
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Chinese Biotech Firm Burning Rock Snags $125.5 million
Burning Rock, a Chinese biotech firm, has raised 850 million Yuan (over $125.5 million) in Series C round led by Singapore's sovereign wealth fund GIC. Other investors include LYFE Capital, CMB International Capital, Lilly Asia Ventures (LAV), Sequoia Capital China and T&Brothers Capital.
Burning Rock's 3 core businesses include cancer patient companion diagnostics, early cancer detection, and cancer genome big data ecosystem.
Earlier in
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$28 billion foreign investment received by Bangladesh in last 5 years
Bangladesh received over $28 billion in investment from 45 countries over the last 5 years. China invested over $8107 million alone making it the highest amount of investment on Bangladesh. Foreign Minister Dr AK Abdul Momen revealed this in parliament in reply to a question from Awami League MP Md Israfil Alam. According to the BIDA, the top ten countries
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Chinese pharmacy platform Yaoshibang raises $133 million
Led by Tiger Global Management, H Capital and DCM, Chinese pharmacy platform Yaoshibang has raised $133 million in Series D funding. It makes the total amount of fund raising by this platform over RMB 1 billion.
Yaoshibang mobile app allows users to directly order and receive medicines from anywhere.
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ADB expects Asia to grow 6% this year
Manila based institution, Asian Development Bank released an update of Asian Development Outlook on Wednesday which clearly stated that Asia will grow 6% this year and 5.8% next year. According to the report, China is expected to grow 6.6% and 6.3% in 2018,2019 where India is expected to grow 7.3% and 7.6% in the same period.
The reasons for growth are
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Bangladesh – The 3rd highest remittance receiving country in South Asia
Bangladesh becomes the 3rd highest remittance receiving country in South Asia, 9th in the world. It has seen a 17.9% growth in remittance earning in 2018 where the rate saw declination of 11.5% in 2016.
The leader in remittance earning is India ($79.5 million), followed by China ($67 million) and Mexico & Philippines ($34 million). World Bank reports that the developing
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