Rita Liao

The eSIM maker powering Xiaomi’s IoT devices raises $15M

The eSIM maker powering Xiaomi’s IoT devices raises $15M

Connectivity is vital to a future managed and shaped by smart hardware, and Chinese startup Showmac Tech is proposing eSIMs as the infrastructure solution for seamless and stable communication between devices and the service providers behind. Xiaomi accepted the proposition and doled out an investment for the startup’s angel round in 2017. Now Showmac has […]

 Rita Liao

China’s electric carmaker WM Motor pulls in $1.47 billion Series D

China’s electric carmaker WM Motor pulls in $1.47 billion Series D

Chinese electric vehicle startup WM Motor just pocketed an outsize investment to fuel growth in a competitive landscape increasingly coveted by foreign rival Tesla. The five-year-old company raised 10 billion yuan ($1.47 billion) in a Series D round, it announced on Tuesday, which will pay for research and development, branding, marketing and expansion of its […]

 Rita Liao

Qualcomm-powered Chinese XR startup Nreal raises $40 million

Qualcomm-powered Chinese XR startup Nreal raises $40 million

Nreal, one of the most-watched mixed reality startups in China, just secured $40 million from a group of high-profile investors in a Series B round that could potentially bring more adoption to its portable augmented headsets. Kuaishou, the archrival to TikTok’s Chinese version Douyin, led the round, marking yet another video platform to establish links […]

 Rita Liao

Xiaomi backs Dyson’s Chinese challenger Dreame in $15 million round

Xiaomi backs Dyson’s Chinese challenger Dreame in $15 million round

Once known for its affordable smartphones, Xiaomi has in recent years been transforming itself into an online mall for consumer electronics by making deals and building relationships with hundreds of hardware and lifestyle startups. And some of its allies are now going after the Western market with their high-end, China-made products. Beijing-based Dreame, which produces […]

 Rita Liao

PropertyGuru lands $220M from KKR and TPG to conquer Southeast Asia

PropertyGuru lands $220M from KKR and TPG to conquer Southeast Asia

Southeast Asia’s leading property listing company PropertyGuru is making great strides across the region as it secures a fresh investment of SG$300 million ($220 million), it announced this week. The proceeds, financed by existing investors KKR and TPG, both buyout titans, will fuel PropertyGuru’s already ambitious push across its main market Singapore, Thailand, Indonesia, Vietnam […]

 Rita Liao

JD.com’s 1-year-old health unicorn to get $830M from Hillhouse

JD.com’s 1-year-old health unicorn to get $830M from Hillhouse

In recent years, China’s online shopping titans have been muscling into the prescription drug market. When JD.com, Alibaba’s archrival, realized the health market spans well beyond retail, it spun out its healthcare unit into a subsidiary last May for a potential initial public offering. That startup, JD Health, gained a staggering valuation of $7 billion […]

 Rita Liao

Hong Kong’s food e-commerce startup DayDayCook raises $20 million

Hong Kong’s food e-commerce startup DayDayCook raises $20 million

The food blogging community in China is booming, and many creators have been cashing in big time by touting food products to loyal followers, a business model that has lured investors. This week, Hong Kong-based startup DayDayCook announced that it has raised $20 million to expand its multifunctional food platform, whose users mainly come from […]

 Rita Liao

DST Global pumps $35 million into Asian e-grocer Weee!

DST Global pumps $35 million into Asian e-grocer Weee!

Coronavirus stay-home orders have sparked an unprecedented demand for grocery delivery around the world. Now investors are clamoring to bet on promising players in the field. That includes DST Global, the investment firm helmed by Israeli-Russian billionaire Yuri Milner. Most recently, it poured $35 million into Weee!, a California-based startup that from its own warehouses […]

 Rita Liao

Moka, the HR tool for Arm and Shopee in China, closes $43M Series B

Moka, the HR tool for Arm and Shopee in China, closes $43M Series B

Investors are betting on the automation of human resources management in China. We reported last year that Moka, one of the key players in the space, secured roughly $27 million for its Series B led by Hillhouse Capital. This week, the startup announced closing a Series B+ at over 100 million yuan ($14.4 million), lifting […]

 Rita Liao

China’s electric SUV maker Li Auto raises $1.1 billion in US IPO

China’s electric SUV maker Li Auto raises $1.1 billion in US IPO

Trade tensions between China and the U.S. have not stopped Chinese companies from eyeing to list on American stock exchanges. Li Auto, a five-year-old Chinese electric vehicle startup, raised $1.1 billion through its debut on Nasdaq on Thursday. The Beijing-based company is targeting a growing Chinese middle class that aspires to drive cleaner, smarter and […]

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