Tag: china
Tencent backs Chinese healthcare portal DXY in $500M round
DXY, a 20-year-old online healthcare community for Chinese consumers and healthcare organizations like Pfizer, announced this week that it has raised $500 million in a new round led by private equity firm Trustbridge Partners. Existing backer Tencent and Hillhouse Capital also participated in the round, which lifted the firm’s total…
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Chinese online education app Zuoyebang raises $1.6 billion from investors including Alibaba
The rivalry between China’s top online learning apps has become even more intense this year because of the COVID-19 pandemic. The latest company to score a significant funding round is Zuoyebang, which announced today (link in Chinese) that it has raised a $1.6 billion Series E+ from investors including Alibaba…
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China lays out ‘rectification’ plan for Jack Ma’s fintech empire Ant
What a whirlwind holiday for Jack Ma and his fintech empire. The People’s Bank of China, the country’s central bank, summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to “rectify” its regulatory violations. The meeting came less than two months after…
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On-demand logistics company Lalamove gets $515 million Series E
Lalamove will extend its network to cover more small Chinese cities after raising $515 million in Series E funding, the on-demand logistics company announced on its site. The round was led by Sequoia Capital China, with participation from Hillhouse Capital and Shunwei Capital. All three are returning investors. According to…
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Watch Space Force commander Gen. John Raymond explain public-private partnerships for space defense
General John “Jay” Raymond spoke at TechCrunch Sessions: Space earlier this week where he touched on a variety of subjects. The talk came on the eve of Space Force’s first birthday, having been founded on December 20, 2019. Space Force commander explains how the new military service operates like a…
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Alibaba ‘dismayed’ by its cloud unit’s ethnicity detection algorithm
Chinese tech giants have drawn international criticism after research showed they have technologies that enable the authorities to profile Muslim Uyghurs. The cloud computing unit of Alibaba, Alibaba Cloud, developed a facial recognition algorithm that can identify a person’s ethnicity or whether a person is “Uyghur”, according to research from…
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