Chinaccelerator Daily Digest 2020/03/24

CHINA:

1. China’s factories work 24/7 to build medical ventilators for Milan, New York amid spreading global Covid-19 pandemic

2. Tencent rolls out new health tracking code aimed at China’s students

3. Meituan to terminate its public cloud service in May

4. Nearly 2 million people have used Alipay to find a job

5. Chinese EV startup Xpeng to independently produce vehicles after acquiring Guangdong-based car manufacturer

6. Chinese biotech startup IASO closes $60m Series B round led by GL Ventures

7. Chinese AI unicorn Yitu Technology 依图科技 has secured $30 million 

8. Meituan-backed Heytea 喜茶 to close new financing round co-led by Hillhouse Capital

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MOBILE-ONLY MARKETS:

1. Singapore government’s TraceTogether app lets citizens actively participate in COVID-19 contact tracing

2. Singapore-based cybersecurity startup Horangi nets $20m to support regional expansion

3. Singapore-based UNL raises $2m to create smart addresses, invested by Here Technologies, Elev8, SGInnovate, MOX and VentureRock.

4. India’s health and wellness startup CureFit bags $110m in Temasek-led round

5. Indian crypto trading platform CoinDCX banks $3m from Bain, Polychain, others

CROSS-BORDER:

1. SoftBank said to be planning to sell US$14 billion in Alibaba shares as business battered by pandemic

2. SoftBank said to near deal to invest in Didi’s self-driving unit

3. Tencent looks to overseas videoconferencing market with new VooV Meeting app

OVERSEAS:

1. SoftBank to raise $41 billion to expand share buyback, cut debt

2. Apple granted tariff exemption for Apple Watch

3. Amazon will deliver and pick up at-home test kits provided by new coronavirus program in Seattle

4. Facebook joins YouTube and Netflix in reducing video quality in Europe amid virus pandemic

5. Coronavirus casts shadow on Twitter ad revenue, but lifts user engagement

6. Uber urges White House to include gig workers in coronavirus stimulus

7. Lyft to offer medical supply and meal delivery during coronavirus pandemic

8. WeWork demands completion of SoftBank’s $3b commitment

9. With the real estate industry facing headwinds, SoftBank-backed Compass lays off 15% of staff

10. Streaming service fuboTV to merge with virtual entertainment technology company, FaceBank

11. Ceros launches MarkUp, a design collaboration tool for live websites

12. Alternative Investing Startup iCapital Network Closes On $146M Amid Skyrocketing Growth

13. Global Savings Group acquires French cashback company iGraal for €123.5M

14. Cazoo, the used-car sales portal, raises another $116M

15. Enable raises $13M to help distributors, manufacturers and retailers manage rebates

16. Brazalian dental company SouSmile raises $10M to grow its anti-braces aligner brand

17. South Korea’s information security company SecuLetter raises $8m Series B 

18. Seoul-based  prototyping software company ProtoPie secures $6.3m to expand westward

19. Musicians pulled in $4.3M after  the popular music platform Bandcamp waived revenue shares for 24 hours

Image Credits: CNBC