Chinaccelerator Daily Digest 2020/03/16

CHINA:

1. China’s inbound foreign direct investment plunges in February as coronavirus disrupts economy

2. ByteDance’s founder Zhang Yiming to focus on global expansion after firm’s management restructure

3. Didi sets up USD 10 million relief fund for coronavirus-stricken drivers outside China

4. Meituan Dianping sees surge in bike-sharing, but don’t call it a comeback

5. Tech giants Alibaba and Tencent vie for attention of young Chinese on streaming video platform Bilibili

6. Tencent’s gears up for fastest growth since 2018 after virus outbreak

7. Chinese dating app Soul’s employees arrested after posting pornography on competitor’s platform

8. Chinese artificial meat startup Starfield secures funds from investor of Beyond Meat

9. Chinese electronics maker Bestek raises $89m in ChiNext IPO

10. Chinese digital solutions provider Cloudwise closes $24m Series D round

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MOBILE-ONLY MARKETS:

1. Right Hand, the Singaporean cybersecurity firm, raised US$1M from SGInnovate, others

2. SG-based Medical tech firm Biolidics raising $2.2m from share placement

3. Indonesian consumer watchdog disapproves of possible Grab-Gojek merger

4. Bank Mandiri’s Mandiri Capital Indonesia plans to invest up to US$5M in startups

5. Uber and Ola see drop in rides as coronavirus forces people to work from home in India

CROSS-BORDER:

1. Apple says reopening all its branded stores in China

2. Bytedance’s music streaming app Resso has officially launched in Indonesia

3. NetEase, Japan’s Studio Ghibli team up to stream music from some of Hayao Miyazaki’s anime films

4. UK-based global information company Ascential acquires Chinese digital commerce solutions firm Yimian 一面数据

OVERSEAS:

1. Asia surpasses North America in corporate VC-backed deals

2. SoftBank unveils $4.8 billion buyback after stock tumble, Elliott backs move

3. Apple closes nearly all retail stores until March 27 over coronavirus

4. Apple sets restrictions for COVID-19-related apps

5. Amazon says it is out of stock of household items and deliveries are delayed due to coronavirus demand

6. Google, Walmart join U.S. effort to speed up coronavirus testing

7. Australian unicorn Airwallex said to seek $200m in fresh funding

8. Online food delivery company GrubHub suspends $100 million in restaurant commissions as virus spreads

9. n8n, a ‘fair code’ workflow automation platform, raises seed from Sequoia as VC firm steps up in Europe

Image Credits: New York Post