Tech business news digest: Highlights on tech business news around the world on 27 November 2020.
CHINA:
1. Chinese real estate tech startup Juwai IQI says it has turned profitable
2. ByteDance and Kuaishou venture into China’s red-hot group-buying sector
3. Huawei shifts focus to its connected car business
4. 翼鸥教育 Yiou Education, edtech SaaS provider, raised $265million USD in Series C
5. Internet security service provider Elextec has garnered 370 million yuan (about $56 million USD)
6. Xiaomi-backed Chinese display startup Viewtrix bags $46m in Sequoia-led series D round
7. AI drug maker 未知君 Weizhijun raised over $10million USD in Series B+
MOBILE-ONLY MARKETS:
1. Singapore arbitration court rejects Future Retail’s plea to be excluded from Amazon case
2. Indian cosmetics startup Plum nets $14.9m in Faering Capital-led round
3. Sequoia leads $6m funding in Shipsy, which operates logistics focused SaaS platform
4. Myanmar shopping platform Hi-So bags funding from former Japanese senator, others
5. MDI Ventures, Finch Capital launch pre-series A fund for Indonesian tech startups
6. Indonesian edtech firm Pahamify bags Series A funding led by Shunwei Capital
CROSS-BORDER:
1. China tops world in AI patent filings, surpassing the US for the first time
2. SV Investment, Shenzhen Capital to hit $100m first close of SE Asia fund by end-2020
3. Foxconn to shift some Apple production to Vietnam to minimise China risk
4. Vickers Venture Partners leads $13.2m series B round in UK biotech startup SiSaf
5. Boston-based Fidelity invests in Indian online beauty retailer Nykaa
OVERSEAS:
1.Thanksgiving on track for a record $6B in US online sales, says Adobe
2. Google and Facebook to be scrutinized by new U.K. antitrust unit from next year
3. Tesla hits $500 billion market cap for the first time
4. LG to spin off affiliates as break-up looms at South Korean conglomerate
5, Insurtech’s big year gets bigger as Metromile looks to go public
This digest is contributed by Chinaccelerator.
