China’s startup news
A round-up of news relating to China’s burgeoning tech startup space, spanning government backing, startup growth, startup-focused venture capital movements and investment.
- China: “…by 2030 the number of internet users aged over 60 could almost triple to 245 million. By 2050, it could reach 350 million.”
- China: XAG startup aiming for farming evolution using drones and AI
- China: University in Hangzhou now uses AI to check class attendance, and find reasons behind absenteeism
- China: Megvii AI and facial recognition startup reportedly planning IPO in either Hong Kong or New York to raise up to US$800M
- China: Shenzhen Metro to transform subway station by with 5G technology, artificial intelligence, facial recognition cameras and robotics
- China: Mobvoi, Google-backed AI startup, sets for $1BN valuation pre-IPO
- China: Baidu Ventures, VC arm of search giant, was the world’s most active corporate venture investor in AI last year
- China: Baidu internet giant partners Chery for electric car with AI, face-scanning payments and AR navigation
- The spread of internet use in China is leading to new sources of data on the country’s real economic condition
- SingularityNET blockchain AI startup partnered by China’s Ping An insurance giant
- China: Macao Government partners WeBank digital-only bank for smart city and blockchain solutions
- China: Shenzhen Metro issues country’s first blockchain-based electronic invoice for a subway ride
- China: EHang drone manufacturer aims for public offering in the US targeting up to $500M
- China: WeChat total daily payment transactions exceeded 1BN in 2018; user base grew to 1.09BN
- China: Pinduoduo group-buying e-commerce platform now 2nd-largest by total active users – 272.6M in Q4 2018
- China’s JD Com Inc e-commerce company launches store on Google Express, following Google investment of $550M
- China: Baidu internet giant’s mini-programs now have more than 150M monthly active users
- China’s Yo-ren retail platform startup raises $11M to bring Japanese fashion to the international market
- China: Yunji social commerce startup running in WeChat files for $200M US IPO
- China: Chehaoduo used car startup lands $1.5BN from SoftBank Vision Fund
- China: JD Com Inc revenues grew 22.4% year-on-year to US$219.6BN in Q4 2018
- China: VIPKid edtech firm tries to balance politics with $500M fundraise; teachers educating about Taiwan, Tiananmen Square have contracts terminated
- China: Koolearn online education company aims for Hong Kong IPO in the $100M range
- China: Facebook suing 4 companies and 3 individuals for creating and selling fake accounts, likes and followers
- Barclaycard UK partners China’s Alipay to allow retailers to accept Alipay in stores
- China: Ant Financial building out Alipay network, and set to launch a banking platform
- China: Ant Financial partners Hoperun for banking product intended to move financial institutions from transaction-oriented to customer-oriented models
- China: Bank of Beijing and ING partner for new digital bank via combined investment of $447M
- China: Shuhe Technology fintech firm raises $30M from Sina Corp internet giant
- China: Government considering tighter controls for $43BN pawn-shop lending sector
- China: Huya game live streaming platform hit 117M monthly active users in December 2018
- China: Guangzhou city now uses WeChat for digital ID for online and offline government services
- Human Rights Watch recently reported that China’s assault on individual human rights is at its worst level since the Tiananmen Square massacre.
- China: Moka SaaS startup secures $27M with recruitment tech services
- China: Report finds “…only limited assurance that the long-term security risks can be managed in Huawei equipment currently deployed in the UK.”
- China: Huawei confirms it has its own operating system in case US tensions disrupt use of Google Android
- China: Huawei once again caught using fake images to promote upcoming product
- China: Waterdrop Company insurance-tech startup secures US$73M with AI tech and health sector in mind
- China: A look at Terminus, combining AI and IoT to power smarter cities and buildings
- China: Shanghai launches IoT-based Smart City program with Germany’s MXC blockchain startup
- China: Xiaomi IoT platform connected 150.9M devices – excluding smartphones and laptops – in 2018, a year-on-year increase of 193.2%
- China: Fadada online electronic contracts platform secures $59M
- Podcast: China Innovation Decoded powered by Microsoft for Startups Shanghai
- China: Nreal mixed reality glasses developer gains $16M backing
- China: An intro to PicsArt, photo-editing app with 130M monthly active users
- China: TikTok video-sharing app lands record $5.7M fine by US Federal Trade Commission for collecting personal info about pre-teens
- China: Danke Apartments secures $500M with co-living focus, tho doubts circle around rent-vs-loan-repayments structure
- Concerns emerge that Reddit is becoming a battleground of Chinese propaganda trolls
- China Youth Credit Management state-backed firm, partnering Communist Youth League Central Committee, launches credit app incentivising so-called “positive action”
- An insight into life on the wrong side of China’s social credit system
- China: Government propaganda adapts to the social media age as disaffection spreads among millennials
- China’s Mobike bike-share pioneer retreats back to home market, closing all international operations
- China: An intro to Shanghai’s Kudosbay, 9-story startup incubator with a focus on connecting foreign entrepreneurs
- China: 13M individuals on ludicrous “social credit” blacklist denied everyday activities
- Podcast: The Autocrat’s New Tool Kit – an interview with authors of the Wall Street Journal article
- China: Data leak exposes private details from 364 million social media profiles tracked by government-linked surveillance program
- China’s VIPKid online education startup puts hundreds of teachers on notice over Taiwan and Tiananmen education
- China: Luckin Coffee startup partners Tencent’s QQ instant messaging platform to open QQ-themed outlet in Shenzhen
- China: Government regulations coming to short-video apps to cap the amount of time children spend on their screens
- Apps connected to ‘smart bulbs’ sold in Walmart and Best Buy send data to Chinese servers, report says
- China: Mollybox secures $13M for cat food e-commerce platform
- China: Investment firm backed by Beijing city government in talks to raise $1.5BN tech fund
- On Huawei: “…between midnight and 0200, data from the AU’s servers was transferred…to servers in Shanghai….for 1825 days in a row”
- China: Quest Ventures VC firm appoints 2 new partners for SEA-focused growth stage investments
- eBay’s Vivian Tian interviewed on women in tech in China
- Xinjiang Victim’s Database – a growing repository of testimony and statistics
- American universities start cutting ties to Huawei and Confucius Institute over perceived influence
- Singapore’s Chope restaurant booking platform lands partnership with China’s Meituan-Dianping, adding overseas options in-app for travellers
- Taiwan to block China’s Tencent and Baidu streaming sites due to propaganda and security risks ahead of 2020 election
- Singapore: Bigo social media startup acquired by China’s social network YY
