Chinaccelerator Daily Digest 2019/12/06

China:

1. Chinese consumers spend more on essentials like oyster sauce but cut down on wine as they tighten spending amid slowing economy

2. Baidu leads China in number of artificial intelligence patent applications

3. Didi loses one fourth of its drivers in Q3 as the total daily usage of Chinese ride-hailing services dropped 6.3% 

4. Huawei releases the 5G Version of Nova 6 Series starting from $408

5. WeWork China sets out bold 2020 sales targets to bring in non-core revenue of around $30 million

6. YinYueTai, one of the major music video sharing sites in China, may have folded

7. Language learning platform duolingo 多邻国 raised 30million USD in Series F with a valuation of 1.5 billion USD, led by CapitalG.

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Mobile-only Markets:

1. Vietnam’s startups bag $750m funding in first 10 months of the year

2. Indian finch giant Paytm is planning to transform its payments bank into a small finance bank

3. India’s virtual banking startup indyFint raises US$2M Series A

4. Flipkart joins $60m series D round of logistics startup Shadowfax

Cross-border:

1. US-based Prologis sets up $1.7b China core logistics fund

2. Singapore’s cross-border VC firm Decacorn Capital enters Europe with an investment in Estonian startup GridIO

3. Hip hop megastar Jay-Z’s startup fund is quietly investing in Southeast Asia

4. Ping An leads $70m series D round for Indian car marketplace CarDekho

Overseas:

1. Investment in Korea’s venture ecosystem is booming with record high of 2.8 trillion won (US$2.3 billion) in first three quarters of 2019

2. Netherlands to raise at least 900 million euros in first 5G auction

3. Uber says it received over 3,000 reports of sexual assault in U.S. in 2018

4. Apple buys first-ever carbon-free aluminum from Alcoa-Rio Tinto venture

5. Emotion-sensing robot launches to assist space station astronauts

6. GV spinout Plexo Capital closes $42.5 million fund to invest in both startups and emerging VC funds 

7. Airbnb officially bans all open-invite parties and events

8. Niantic and Qualcomm will build AR glasses for world-scale games

9. Qualcomm announces Snapdragon XR2, the world’s first 5G XR platform

10. Alphabet’s Waymo expands app to iPhone devices in Phoenix

11. Mobile games studio Wildlife Studios raises $60 million to expand its empire

12. Palo Alto-based Cyberhaven raises $13 million to thwart trade secret theft

13. Teeth straightening startup Uniform Teeth raises $10 million

14. Apostrophe raises $6 million to let you see a dermatologist from your phone

15. Figma, design tool maker, launches Auto Layout that takes some of the tedious reformatting out of the design process

16. Riot Games will publish third-party developer games based on League of Legends

17. AV startup AutoX applies for permits to test fully self-driving cars in California

18. Singapore healthtech startup Hummingbird banks $19m in series B round

Image Credits: Yicai Global