Tag: shanghai
China Roundup: Mega trade fair goes online, anti-China sentiment hobbles developers
Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what those events mean to people in the rest of the world. This week, we are seeing the backlash Chinese tech companies face around the world as anti-China sentiment escalates. In…
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SoftBank pours $500M into Didi in China’s biggest autonomous driving round
The race to automate vehicles on China’s roads is heating up. Didi, the Uber of China, announced this week an outsized investment of over $500 million in its freshly minted autonomous driving subsidiary. Placing the bet — the single largest fundraising round in China’s autonomous driving sector — is its…
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Investors cozy up to LA-based Ettitude’s bamboo bedding and sleep wear with $1.6 million
Ettitude, the Los Angeles-based, direct-to-consumer startup making sustainable bedding and sleepwear from bamboo fibers, has raised a sustainably sized round that should keep the company going even in the face of an economic recession. Co-founded by the Melbourne, Australia native Phoebe Yu and serial entrepreneur Kat Dey, ettitude sells high-end…
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Tim Hortons eyes China coffee drinkers with Tencent investment
Canadian coffee-and-doughnut chain Tim Hortons has secured a heavyweight partner to further its China expansion. The company announced on its social media account (in Chinese) on Tuesday that it has landed funding from Tencent, the Chinese social networking and gaming giant, without disclosing the size of the proceeds. Tim Hortons…
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Virgin Galactic is partnering with NASA to develop supersonic point-to-point air travel
Virgin Galactic today revealed a new partnership with NASA, in pursuit of the goal of developing a high speed vehicle for point-to-point travel across Earth. NASA has been pursuing development of high mach air travel itself, with the development of its Supersonic X-59 low-boon supersonic test plane built by Lockheed…
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EV startup Nio secures $1 billion investment from China entities
Chinese electric vehicle startup Nio has secured a $1 billion investment from several state-owned companies in Hefei in return for agreeing to establish headquarters in the city’s economic development hotspot and giving up a stake in one of its business units. The injection of capital comes from several investors, including…
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