Monday, December 11, 2017

China’s Venture Capital Market Remains Strong As Deal Value Triples In Q2

China's venture capital market made strong gains in the second quarter of 2017, as the total value of new venture investments more than tripled to US$10.7 billion, compared to US$3.5 billion recorded during the first three months of the year, according to a KPMG report.

Venture-Backed BGI Genomics Completes $250M IPO On Shenzhen ChiNext

Chinese gene sequencing giant BGI Genomics Co., Ltd. today completed an initial public offering on the ChiNext board in Shenzhen, raising around RMB1.7 billion (US$250 million). The successful IPO comes after the company previously failed to list in the U.S. and Hong Kong, as well as an unsuccessful bit to achieve an A-share float via a reverse merger.

Chinese Co-Working Space Firm UrWork Raises $29M From Aikang Group

China's largest co-working space operator UrWork has completed a RMB200 million (US$29 million) investment round from Beijing Aikang Group, a Chinese conglomerate in the healthcare, real estate and investment businesses.

Chinese AI Start-Up SenseTime Raises $410 Million Series B Round

Chinese artificial intelligence start-up SenseTime has completed a US$410 million series B round, in what the company calls the largest private financing rounds ever closed by an AI start-up globally.

Will VC Craze For Cashier-Free Stores Spark Retail Revolution?

In case you haven't heard, the next "big thing" after bike sharing has arrived. Welcome to the age of cashier-free convenience stores, the latest craze among venture capitalists in China. Since the launch of Amazon Go, the U.S. e-commerce giant's retail store that requires no cashiers and no check-out, the concept has been quickly adopted in China and taken to a whole new level.

Eastern Bell Leads $52M Round In Industrial Products E-Commerce Platform Zhenkunhang

Eastern Bell Venture Capital has led a RMB360 million (US$52 million) series B round in Zhenkunhang, an industrial products e-commerce platform, with participation from Shenzhen Cowin Venture Capital Investments Ltd.

Legend Capital Leads $14M Round In Managed Cloud Firm Bespin Global

Legend Capital, the corporate venture capital investment arm of Chinese tech firm Legend Holdings Ltd., has led a series A round worth over RMB100 million (US$14 million) in Bespin Global, a South Korean start-up providing managed cloud services to medium and large enterprises globally.

IDG Leads $50M Round In Apartment Rental Firm Chengjia Apartment

IDG Capital and Chinese hotel management company Huazhu Hotels Group Ltd. have led a US$50 million pre-A round in Chengjia Apartment, an apartment rental start-up.

GGV Leads $10M Round In Cross-Border E-Commerce Firm Yamibuy

China-focused venture capital firm GGV Capital has led a US$10 million series A round in Yamibuy, an e-commerce platform focused on selling specialty Chinese and Asian goods to Asian consumers living in North America. Chinese private education firm New Oriental Education & Technology Group Inc. also participated in the round.

WI Harper Joins New Founding Round In Chinese AI Cloud Firm CloudBrain

Chinese angel investor 10Fund has led a series A round worth tens of million RMB in CloudBrain, a U.S. and China-based artificial intelligence cloud start-up, with participation from WI Harper Group.

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Quintech Exec on Where Software-Defined Radios Fit in Satellite

A soldier uses a Harris manpack radio. Photo: Harris.Quintech Electronics & Communications recently announced that a government contractor will use its Nexus-4 16 port mesh test matrix switch to expedite development of its Software-Defined Radio (SDR) systems. In an interview with Via Satellite, David Chan, Quintech’s vice president of sales and marketing, explained why SDR is critical to the satellite systems of today and the future, and how Quintech plans to position itself as the technology grows in use and capability.

Boeing Reports Strong Earnings in the Second Quarter

Logo atop Boeing headquarters. Photo: Boeing.Boeing reported a pop in earnings and operating cash flow in the second quarter of this year, driven by improved operating performance, according to the company. Revenue for the its network and space systems division came in at $1.7 billion, with operating margin increasing to 9.1 percent. Backlog for the full defense, space and security division was $58 billion, of which 37 percent represents orders from international customers.

Norwegian Microsatellite Deploys Antenna for VHF Data Exchange

Rendition of Norsat-1. Photo: ESA.The Norwegian Space Center has announced successful deployment of critical antennas and probes on the NORsat 1 and NORsat 2 microsatellites built by Canada’s Space Flight Laboratory (SFL), which launched on July 14 from Kazakhstan. Most notable was deployment of a large Yagi antenna from NORsat 2 that will provide first-of-its-kind Very High Frequency (VHF) Data Exchange (VDE) from space, according to the Norwegian Space Center.