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Today in News: Grab raises $1B from Toyota, explore self-driving cars with Didi

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


Today in News: Grab raises $1B from Toyota, explore self-driving cars with Didi | BEAMSTART News

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Today in News are brief updates by the BEAM team of what's happening in the business, finance, and technology space around the world (as well as in China). Download the BEAM App to get curated news like these from over 100 sources.

Overseas:

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  • Micro VC firm 500 TukTuks targets $20M for second fund.
  • Benchling, platform for life sciences research, announces a $14.5M series B led by Benchmark.
  • Zomato, Indian restaurant search and discovery firm, promises to invest $15M in Loyal Hospitality, a startup that helps restaurants expand operations Propeller Aero, drone analytics startup, secures $10M in series A led by Blackbird Ventures.
  • Microsoft takes aim at Amazon with push for checkout-free retail.
  • True Ventures aims to raise $650M across two new venture funds.
  • Samsung NEXT, a division working with entrepreneurs and innovators to build, announces its new fund to power AI.
  • Inspo Network (produces video content to bring creators together with brands) launches with $5.5M investment led by PSL ventures.
  • Cohesity, cloud storage business, raises $250M in Series D led by SoftBank Vision Fund.
  • WeWork talks with SoftBank to double valuation to as much as $40B.

China:

  • B2B pharmaceutical trading app Yaoshibang Raises RMB 420M series C across two rounds.
  • WeChat launches product search function linked to JD.com
  • BeagleData, distributed computing platform developer, lands RMB 100M series D led by Ally Capital and Meridian Capital.
  • WeChat Pay allows marketing service providers to place feed ads for merchants.
  • Fabu Technology, autonomous cargo vehicle maker, wins investment from Sinovation Ventures.
  • Distrii, co-working space operator, completes RMB 150M Series A+.
  • Pet City, mobile pet health insurance platform, raises RMB 7-digit strategic funding from Shunchong, pet product technology developer.
  • Baidu launces low-cost “Xiaodu” smart speaker.
  • WeChat tests family member virtual credit card payment function.
  • Tomee, AI-based military and police training systems firm, lands RMB 30M Pre-A from Zhongjing Huanyu Equity Investment Fund.
  • Alibaba collaborates with Yuan Longping, China’s “father of hybrid rice”, on rural Taobao.

Cross-border:

  • JD.com partners with Magplane, U.S. rail engineering firm, to develop maglev logistics technology.
  • PatSnap, provider of patent and research services, raises $38M in series D round led by Sequoia and Shunwei Capital.
  • Grab in talks with Didi Chuxing to explore self-driving cars.
  • Google’s new AI research center will be its first on the African continent.

Cross-border:

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

Blockchain:

  • JD.com plans to issue asset-backed securities on the blockchain.


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