China Tech Newsletter – June 2, 2015

Chow Tai Seng Connected Necklace
Chow Tai Seng Connected Necklace

Jewellery company Chow Tai Seng has developed a connected necklace for kids. Apart from monitoring your child’s location, its accompanying app, available for both iOS and Android, displays current weather conditions and weather forecasts.

It’s now raising funds on Taobao’s crowdfunding platform. It will be sold at RMB1899 (about US$300) after the crowdfunding campaign.

HWTrek, an open innovation platform for hardware creation, has closed a $4 million Series A round of funding led by WI Harper and ITIC, with participation from Legend Star, and Global Brain, a Tokyo-based venture capital firm.

Headquartered in Taipei, the company is opening an office in Shenzhen., which provides automotive after sales services and solutions, announces RMB50 million (about US$8m) Series A funding led by Gaolan Capital (our translation) and joined by Renren. (via Sohu)

It’s a spin-off from Renren, starting off in 2011 as an automotive Q&A service.

Mishi, a marketplace for home-cooked meals, has raised US$15 million in Series B led by Sequoia Capital. The company raised US$4 million in Series A from Morningside Ventures who also participated in this latest round.

Launched in March, Mishi has had some 400,000 users and 15000 cooks on board. (via Donews)

Qunar reports first quarter results.

The company has received US$500 million new investment, with US$330 million from Silver Lake and the rest from an unnamed investor. It has rejected an acquisition offer from Ctrip, according to the company.

iDreamsky reported first quarter results.

Online video and smart TV company Letv announced a HK$6 billion investment plan for Hong Kong market. The investment will be used for purchasing video rights, producing Hong Kong dramas, e-commerce operations, etc.


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