Chinaccelerator Daily Digest 2020/03/02

CHINA:

1. Baidu chief confident on ability of Chinese business to recover from coronavirus despite ‘undoubted’ near-term impact

2. NetEase 2019 revenue reaches USD 8.5 billion on gaming growth

3. Bilibili becomes an official provider of online classes in Shanghai

4. Tencent invests 88 million RMB to help with Covid-19 research and medical care

5. Alibaba develops AI system for Covid-19 diagnosis

6. China’s largest software as a service (SaaS) provider of WeChat solutions Weimob 微盟 to refund up to USD 21.5 million to merchants

7. Sequoia-backed Nuanwa 暖哇科技, a health insurance internet platform, snags $14m

8. Influencer e-commerce platform Mockuai 魔筷科技 secured investment from Tencent

9. Enterprise finance solutions provider Knowlegene 知因智慧 raised 8-digit RMB in Series B1

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MOBILE-ONLY MARKETS:

1. Grab-backer Invesco raises $100m so far for fourth Asia real estate fund

2. Fashion imaging startup FlixStock banks $2.5m from Wavemaker, others

3. Grab Ventures bets on Vietnam with launch of accelerator

4. Vietnam music startup Amanotes quietly garnered 700 million downloads worldwide

5. PhonePe tops up its wallet with $60m from Singapore-based parent entity

6. India’s SMEcorner, which lends to micro, small and medium enterprises (MSMEs), raises $30m led by Paragon Partners, others

7. MOX portfolio digital video curation platform Flickstree secured $3m funding, led by Samsung Venture Investment.

CROSS-BORDER:

1. Toyota plans new $1.2 billion EV plant in Tianjin with FAW

2. Google, Toyota invest in WhereIsMyTransport to map transport in emerging cities

3. Temasek-backed food solutions provider SATS acquires Monty’s Bakehouse UK for $34m

4. Huawei to Set up First European 5G Factory in France

OVERSEAS:

1. PayPal warns coronavirus will have a negative impact on revenue expectations for the quarter

2. Samsung and LG Innotek close South Korea plants after confirmed virus cases

3. Lyft flags production delays for scooter, bike parts due to coronavirus

4. Real Estate Developer Turned Tech Startup Veev Raises $97M For Panelized Building System

5. Utah’s Lendio, An Online Marketplace For Small Business Loans, Secures $55M

6. Teen hit Yolo raises $8M to let you Snapchat anonymously

Image Credits: KrAsia