Chinaccelerator Daily Digest 5/28/2019

Overseas:

1. Japan to limit foreign ownership of firms in its IT, telecom sectors

2. SoftBank Plans Second AI Venture Fund of More Than $55 Million to Unearth Promising Startups in AI

3. IBM works on AI to detect chronic diseases like Parkinson’s, diabetes

4. IKEA to revamp app for customers to shop remotely for products as store strategy shifts

5. LinkedIn Introduces “Ads” Tab to Show Sponsored Content from Companies

 

China:

1. Local govts racing to roll out 5G network construction, where more than 2 million 5G base stations are expected to be invested and built nationwide by 2022

2. Chinese province Yunnan gets a digital makeover using a smartphone tourism app co-developed by Tencent

3. China’s e-sports industry offers low pay and long hours where around 60% of them make less than $14,500 a year, according to Tencent E-sports

4. Alibaba reportedly mulling to raise $20B through a second listing in Hong Kong

5. Hongmeng 鸿蒙, Huawei’s proprietary OS, incorporates next-generation technology

6. Gambling sites are using Pinduoduo 拼多多 to process Alipay, WeChat Pay transactions

7. China East Education seeks up to $680m in HK IPO

8. Art education and training platform Palace Education 湃乐思 raised over 10m from pre-Series A financing

 

Cross-border:

1. Alibaba builds global sales logistics system in the Middle East

2. Google to invest 600 million euros in Finnish data center

3. LINE messaging platform, iPrice Group join forces to launch LINE SHOPPING in Indonesia

 

Mobile:

– TikTok parent Bytedance is reportedly working on its own smartphone

 

Emerging Market:

1. Food tech-focused Finistere Ventures, three Israeli firms to invest $100 million in agrifood startups in Israel

2. Singapore startup Trax, which develops image recognition software is in talks to raise $100m

3. Indonesian insurtech startup PasarPolis expands to Thailand, Vietnam

4. Daung Capital closes Series A valuing Burmese fintech startup at US$12M

5. India’s FreshToHome raises $11 million to expand its fish, meat, and vegetable e-commerce platform

6. Singapore IoT startup Brazn raises US$3.65M funding from Tin Men

 

Image credit: Reuters

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