Chinaccelerator Daily Digest 6/14

Overseas:

1. True Ventures aims to raise $650M across two new venture funds.

2. Samsung NEXT, a division working with entrepreneurs and innovators to build, announces its new fund to power AI.

3. Inspo Network (produces video content to bring creators together with brands) launches with $5.5M investment led by PSL ventures.

4. Cohesity, cloud storage business, raises $250M in Series D led by SoftBank Vision Fund.

5. WeWork talks with SoftBank to double valuation to as much as $40B.

China:

1. WeChat Pay allows marketing service providers to place feed ads for merchants.

2. Fabu Technology, autonomous cargo vehicle maker, wins investment from Sinovation Ventures.

3. Distrii, co-working space operator, completes RMB 150M Series A+.

4. Pet City, mobile pet health insurance platform, raises RMB 7-digit strategic funding from Shunchong, pet product technology developer.

5. Baidu launces low-cost “Xiaodu” smart speaker.

6. WeChat tests family member virtual credit card payment function.

7. Tomee, AI-based military and police training systems firm, lands RMB 30M Pre-A from Zhongjing Huanyu Equity Investment Fund.

8. Alibaba collaborates with Yuan Longping, China’s “father of hybrid rice”, on rural Taobao.

Cross-border:

1. Grab, Singapore-based ridesharing company, raises $10B from Toyota.

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