Here are the articles we found most interesting and relevant for our clients this past week.
Chinese online car trading platform Chehaoduo announced Wednesday that it has raised USD 200 million in a follow-on round to its Series D from SoftBank and Sequoia China, totaling its Series D round to more than 1.7 billion dollars with 1.5 billion coming from SoftBank’s Vision Fund in early 2019.
Tesla has entered into an agreement with a Chinese bank for an unsecured revolving-loan facility of up to RMB 4 billion (USD 565 million).US electric-car maker still not cleared to reopen California factory.
On the evening of this year’s Mother’s Day, Dong Mingzhu, the chairwoman of Chinese home appliance manufacturer Gree Electric (SHE: 000651) kicked off her second livestream on popular short-video app Kuaishou.
Shenzhen-based courier SF Holdings (SHZ: 002352) has launched food delivery services in China, making a foray into a market currently dominated by Meituan Dianping (HKG: 3690) and Alibaba’s Ele.me.
On April 8, China Unicom, China Telecom and China Mobile jointly held an online press conference to jointly release their “5G Messaging White Paper” and a new app “5G Messages.”
Canadian cafe chain Tim Hortons announced Tuesday in China that it has received an investment from Chinese internet giant Tencent (HKG: 0700) as the company is looking to expand its presence in the country. The Canadian cafe chain aims to tap on China’s online coffee market, following the rise of several coffee brands in recent years.
Shanghai-based artificial intelligence startup Data Grand has closed its RMB 270 (USD 38 million) Series B+ round, led by Shenzhen Capital Group Co. Ltd. Data Grand develops tech that can partially replace humans in a variety of tasks including data comparison and analysis and document reading.
Baidu, China’s biggest internet search company and artificial intelligence champion, said it is investing a further 500 million yuan (USD 70.5 million) to boost its livestreaming services, aiming to cultivate 1,000 star content creators amid a surge in online users during the coronavirus pandemic.
The demand for co-working spaces will likely rise in the aftermath of the novel coronavirus outbreak as an innovative, efficient and flexible way of working and the abundant community resources have drawn the attention of Chinese enterprises.
Chinese state-backed facial recognition major CloudWalk Technology has collected 1.8 billion yuan ($254 million) in a new funding round from domestic investors with close ties to the government.
Dada Nexus, the company behind on-demand grocery delivery platform JD Daojia and delivery platform Dada Now, filed its application on Tuesday with the US securities regulator to offer shares on the Nasdaq stock exchange.