The latest funding craze comes as new figures from
KPMG show that VC investments globally fell 14% to $24.1 billion in the third quarter of 2016.
The app is attracting such interest because it plays into current Chinese content and advertising trends. Toutiao aggregates personalized content based on individual users' interest by analyzing data on social networking accounts, and then selling targeted advertising against it. Users can also browse and shop directly from the app through a partnership with Chinese e-commerce website,
Surging sales have been sparked by three key factors: shopping as entertainment, shopping becoming cross border, and shopping via mobile, points out
, a manager partner at
, an early backer of Alibaba. But he also cautions that changes in trade policies with a new U.S. president could impact China commerce internationally.
Wants Cars to Talk More in China. The U.S. auto maker is introducing a technology that allows cares to communicate.
are set to begin collaborating more closely in artificial intelligence, machine learning, the Internet of Things, and smart hardware and products. Intel CEO
was recently in Hangzhou and met with Alibaba Group CEO
and got a tour of the city's "Smart City Brain Control Center," designed to tackle traffic congestion. He also took a ride on Alibaba's YunOS Internet car.
Do social media titans
use their own services - Twitter and Facebook?
is behind a $25M, Series C investment in
Treasure Data, Inc.
, a cloud-based live data management platform. The startup drew capital from
Innovation Network Corp. of Japan
. Treasure Data has raised a total of $54 million and is backed by
AME Cloud Ventures, Scale Venture Partners
is among a group of elite Silicon Valley investors in new mobile AI startup
, led by
Sam Song Liang
and a team of tech industry veterans. AISense is using mobile AI technologies, voice-speech recognition and deep learning to developed next generation tools to enhance professional productivity.
As start-up exits continue to be elusive in India, several VC firms are seeking more time from investors beyond the usual 10-year period to return their money to LPs.
Nexus Venture Partners, Kalaari Capital, Matrix Partners and
IDG Ventures India, are extending the timeline of their first funds in India, starting from 2006 and 2007, by two years to return cash to their investors. Two VC firms -
SAIF Partners India and
Accel Partners India, both of which began investing in India before 2006 - have bucked the trend, thanks to such investment gems as
Flipkart, MakeMyTrip and
Seedfund, got good returns on its first fund of $14 million, through bets on
Many firms including Kleiner Perkins, DFJ and Canaan Partners have left though Sequoia, Matrix, Nexus and Helion remain. Read story,
A few have remained:
Sequoia Capital, Matrix Partners,
Helion Venture Partners
Now, the rapid expansion of
have caught Flipkart, Snapdeal and Ola by surprise, and leading to upsets.
Though India has been promising to be the next China in terms of stellar startups, the future of the India VC and startup scene looks shaky.
Warbug Pincus has invested $75 million for a minority stake in Indian logistics startup
Rivigo, based in Guragon. India's logistics sector is seen as a next big opportunity for investors with projections of $10 billion in revenues by 2020. VC firms investing in the sector include
SAIF Partners, Sequoia Capital India and
Accel India as well as
KPMG India chief calls it a day. KPMG India chief
Richard Rekhy, who was elected head of KPMG India for a second term up to Nov. 2020, has decided to retire as CEO.
Singapore is planning to ease approval times for VC financings and regulations on startups as part of a fintech push in the city that has been angling to be a creative hub.