China Tech News

TikTok's US user base to reach 45.4M this year and pass 50M next year, according to eMarketer.

Ant Financial acquires a minority stake in Sweden-based digital payments firm Klarna. The new arrangement will allow the partnership to expand globally.

ByteDance officially launches its music streaming service Resso in India. Resso offers an ad-supported tier and and an ad-free premium option.

China-based AR glasses firm Mad Gaze raises $18.6M Series A from DNS, Black30 Venture, and others.

Chinese companies including Alibaba and Tencent are selling content-moderation tools that filter items based on depictions of violence and more.

China-based ride-hailing firm Didi Chuxing has launched a Postmates-style errands service.

The app, named Toutiao Search, comes about half a year after ByteDance introduced a mobile search portal with the same name.

The Alibaba-backed company is preparing to float shares on Shanghai’s tech-focused Star market.

Until now, SoftBank has put in USD 1 billion in real estate company Beike which secured over USD 2.4 billion in its Series D+ financing round.

Shanghai-based robot maker Keenon Robotics has closed a USD 28.8 million Series B round. Most of company's customers are in hospitality industries.

Chinese social ecommerce company Pinduoduo has unveiled an enterprise app called Knock, stepping into the workplace collaboration market.

London-based fintech startup TransferWise said it has enabled international money transfers to China through a partnership with Alibaba’s Alipay.

Baidu Health has a business scope of software, cosmetics, sanitizing materials, medical gear and more with a registered capital of USD 4 million.

Alibaba’s education platform will teach digital skills to on-demand workers. The platform hopes to launch 1,000 courses in the next three years and reach more than 10 million workers.

Chinese edtech firm Yuanfudao is near to closing a funding round that will value it at $7.5B. Yuanfudao provides online courses and more; previously valued at $3B.

Facial recognition company Hanwang works with the Chinese government to identify people wearing face masks using unmasked pictures, claiming 95% accuracy.

Chinese tech giant Tencent Holdings has rolled out a new tracking app aimed at students who are preparing to return to school.

Imaging diagnosis company Medical AI has garnered $14 million in a Series B round of financing, while Nanjing F&S Pharmatech Co., Ltd has secured an unspecified Series B round.

SenseTime Group has deferred its plan for an up to $750 million IPO in Hong Kong this year and instead aims to tap private markets.

Sequoia Capital China has completed a strategic investment of over $171 million in Chinese dairy products maker Junlebao.

China’s largest aggregator, Trip.com, forecasted its revenues to drop up to 50% YoY in the first quarter of 2020.

Alibaba Cloud has opened its AI-powered diagnosis system, able to detect coronavirus cases via computerized tomography (CT) scans, to global medical professionals for free.

Tencent has launched a new function called Fenfu inside its ubiquitous WeChat app, allowing some users to acquire goods and repay the bill at a later date.

Big data and AI major MiningLamp Technology has announced the completion of $300 million in a Series E round led by Tencent and Temasek.