Chinaccelerator Daily Digest 10/26/2020

CHINA:

1. China says looking into unfair competition on e-commerce platforms

2. China’s new law restricts transfer of personal data abroad

3. Jack Ma urges financial regulation reform on eve of Ant Group’s ‘biggest IPO in history’

4. First Day of Double 11 Shopping Festival Sets New Records, Livestreams Drive Sales Spike

5. Pinduoduo’s New Brand Initiatives Upgraded, Facilitating Brand Innovation with 5,000 Manufacturers and Driving RMB 1 Trillion Sales

6. Alibaba-Backed fresh produce ecommerce company Yiguo.com, Having Raised RMB6 Billion, Enters Bankruptcy

7. China’s CIS chips manufacturer SmartSens raises nearly $225m in funding from ICF, Xiaomi, others

8. Tencent leads $100M Series B funding round into China-based esport provider VSPN

9. OnePlus’s 8T handset brings faster charging and a 120Hz display for $749 

10. Magnum Research, the company behind digital wealth management platform Aqumon, closes pre-Series B round backed by Lenovo Capital, Alibaba, others

11. Xiaomi leads funding in Fenxiang Life, a mobile-friendly shopping guide social ecommerce platform

12. Chinese semiconductor systems and modules developer Sky Semiconductor bags over $14m in Series A round

Check out our latest podcast about “China’s Cross-Border Luxury Ecommerce: The Past & The Present, with Claire Chung, Former China GM of Yoox Net-A-Porter Group” here

Check out our latest blog post about “Top 5 Podcasts to Understand How VCs Make Decisions” here

MOBILE-ONLY MARKETS:

1. VC investments in India more than doubled to $3.6b in September quarter, says KPMG

2. Flipkart buys stake in apparel company Aditya Birla Fashion and Retail

3. Swiggy’s India food delivery volumes recover to 85% of pre-COVID levels

4. Bengaluru-based Signzy, a no-code AI platform, has raised $5.4 million

5. Foundation Ventures closes its debut fund to invest in early-stage Egyptian startups

6. ProfitBoard Ventures launches US$100M fund for early-, growth-stage startups in SEA, India

7. On-demand B2B food service startup Mangan raises angel funding

8. Philippines eases corporate buyout rules to suppress bankruptcies

9. Taxmantra Global launches $100m fund to invest in Indian, SEA startups

CROSS-BORDER:

1. Bulgaria signs 5G security declaration with U.S.

2. Italy vetoes 5G deal between Fastweb and China’s Huawei

3. Tesla recalls nearly 50,000 Model S and X cars in China over faulty suspension

4. Chinese fintech giant Lufax seeks up to $2.36 billion in U.S. IPO

5. Alibaba-backed fund bets $50m on Vietnam ‘new retail’ group Ficus

6. Amazon wins arbitration order against Future’s deal with Reliance

7. U.S. judge denies new government bid to remove China’s WeChat from U.S. app stores

8. Tokopedia adds Google as its latest investor, sources say

9. Myanmar HR tech startup Better HR plans expansion in Thailand, Cambodia, and Laos

OVERSEAS:

1. Intel stock closes down more than 10% after weak data center results, chip delay

2. SpaceX launches 60 more satellites during 15th Starlink mission

3. Australian e-commerce marketing tech firm Rokt raises $80m Series D

4. Nordic challenger bank Lunar raises $47M for online banking

5. Eight Roads-backed OpenLogi, a Japan-based logsticis fulfillment platform, bags $16.7m in ongoing series C round

6. OnSite Waste Technologies bags $3.5M for medical waste sterilization

Image Credits: Reuters