Drone maker Ehang announces US$42 million Series B funding led by GP Capital, with participation from Oriental Fortune Capital and existing investors GGV Capital, ZhenFund and LeBox Capital. The company announced US$10 million Series A round in December 2014.
The rumored reshuffle of the top management at the three state-owned Chinese telecom operators has taken place. – Bloomberg
Peer-to-peer lending site Dianrong announced on August 20 US$207 million Series C round of funding led by Standard Chartered and China FinTech Fund, with participation from Bohai Leasing and existing investors.
Soul Htite, co-founder, CEO and chairman of Dianrong, co-founded Lending Club.
ZUK, the new smartphone brand of Lenovo that launched earlier this month, will begin selling the international version of its first model Z1 in the Asia-Pacific region, Europe, America and Middle East in September through online marketplaces such as Amazon and local distributors. The version will be pre-loaded with the Cyanogen system. (via Sina Tech)
“Xiaomi will launch in Africa in September through distributor.” — Forbes
Uber launched carpooling service Uber+ in Beijing.
China’s 4G users reached 250 million in July, according to new data release by the Ministry of Industry and Information Technology.
Mobile internet users reached 890 million, of which 3G and 4G users totalled 695 million.
Two Chinese chip makers, Rockchip Electronics Co. and Allwinner Technology Co., now have a combined 27% of the global tablet market. — Bloomberg