Category Archives: China

China’s Nio invests in LiDAR startup Innovusion

Innovusion, a two-year-old startup developing LiDAR sensor technology for autonomous vehicles, has raised $30 million in a Series A funding round co-led by Chinese firms Nio Capital and Eight Roads Ventures along with U.S.-based F-Prime Capital. Other seed round and strategic investors joined the round, the startup said. Nio Capital is the venture arm of Nio, the Chinese electric automaker aiming to compete with Tesla. Nio, which raised $1 billion when it debuted on the New York Stock Exchange in September, has operations in the U.S., U.K. and Germany, although it only sells […]

Read more

China is funding the future of American biotech

Silicon Valley is in the midst of a health craze, and it is being driven by “Eastern” medicine. It’s been a record year for US medical investing, but investors in Beijing and Shanghai are now increasingly leading the largest deals for US life science and biotech companies. In fact, Chinese venture firms have invested more this year into life science and biotech in the US than they have back home, providing financing for over 300 US-based companies, per Pitchbook. That’s the story at Viela Bio, a Maryland-based company exploring treatments […]

Read more

The real-life Emery and Evan from “Fresh off the Boat” launch Batu Capital for cannabis, crypto and big data startups

Brothers Evan and Emery Huang, founders of Batu Capital Restaurateur and raconteur Eddie Huang is the best known of the three “Fresh off the Boat” brothers (it was his memoir that inspired the ABC sitcom), but his younger brothers Emery and Evan remain relatively mysterious even to its most loyal viewers. Though the two’s namesake characters are also prominently featured on the show, their real-life counterparts have kept a much lower public profile, making sporadic appearances on Eddie’s social media. Emery and Evan, however, have been busy […]

Read more

Study says the US is quickly losing its entrepreneurial edge

Photographer: Daro Sulakauri/Bloomberg According to a new study conducted by the Center for American Entrepreneurship and NYU’s Shack Institute of Real Estate, the US may be losing its competitive advantage as the dominant nucleus of the startup and venture capital universe.  The analysis, led by senior Brookings Institute fellow Ian Hathaway and “Rise of the Creative Class” author Richard Florida, examines the flow of venture capital over 100,000 deals from 2005 to 2017 and details how the historically US-centric practice of venture capital has become a global phenomenon. While the US still […]

Read more

China’s secret startup advantage: liquidity

This year’s rush of IPOs from Chinese tech companies has dominated headlines, but what’s more interesting is how quickly they got there. Traditionally, “going public” represented the gratifying culmination of sleepless nights and missed birthdays that went into building a company. The peak of a lengthy climb, where founders and VCs would finally see the fruits of their labor.  However, Chinese companies appear to be reaching that peak much quicker than their American peers, heading to the public markets only a few years after initial venture investments, […]

Read more

Chinese electric scooter startup Niu files for $150M U.S. public offering

Chinese electric scooter startup Niu Technologies has filed for an initial public offering on Nasdaq to raise up to $150 million. In its form, Niu said it is “the largest lithium-ion battery-powered e-scooters company in China,” according to data from China Insights Consultancy, and also a market leader in Europe based on sales volume. Founded in 2014 and based in Beijing, Niu says it currently holds a market share of 26% in China based on sales volume. Niu’s debut will the latest in a string of recent […]

Read more

VCs say Silicon Valley isn’t the gold mine it used to be

In the days leading up to TechCrunch Disrupt SF 2018, The Economist published the cover story, ‘Why Startups Are Leaving Silicon Valley.’ The author outlined reasons why the Valley has “peaked.” Venture capital investors are deploying capital outside the Bay Area more than ever before. High-profile entrepreneurs and investors, Peter Thiel, for example, have left. Rising rents are making it impossible for new blood to make a living, let alone build businesses. And according to a recent survey, 46 percent of Bay Area residents want to get the […]

Read more

TiDB developer PingCAP wants to expand in North America after raising $50M Series C

PingCAP co-founder and CEO Max Liu PingCAP, the company behind MySQL-compatible distributed database TiDB, said today that it plans its global operations after raising a $50 million Series C. The round was led by Chinese venture capital firms Fosun and Morningside Venture Capital, with participation from returning investors including China Growth Capital, Yunqi Partners and Matrix Partners. Based in Beijing, the company says it will also use the new capital to build more cross-cloud products. PingCAP is focusing on the North American market since it is the […]

Read more

For Labor Day, work harder

Labor Day is a holiday that just doesn’t fit Silicon Valley. It’s purported purpose is to celebrate working men and women and their — our — progress toward better working conditions and fairer workplaces. Yet, few regions in recent times have supposedly done more to “destroy” quality working conditions than the Valley, from the entire creation of the precarious 1099 economy to automation of labor itself. My colleague John Chen offered the received wisdom on this discrepancy this weekend, arguing that Valley entrepreneurs should take the traditional […]

Read more

Tencent-backed news aggregation app Qutoutiao files for U.S. public offering

Qutoutiao, a news aggregator app backed by Tencent, has filed for an initial public offering of up to $300 million in the United States. In its F-1 form, the company, whose name means “fun headlines,” said it is the number two mobile content aggregator in China. Its main rivals are Jinri Toutiao, China’s top news aggregator, Tencent’s Kuaibao and Yidianzixun. Based in Shanghai, Qutoutiao reportedly reached unicorn status in March, when it raised a Series B of about $200 million led by Tencent. For Tencent, Qutoutiao and […]

Read more
1 2