China Tech Newsletter – Sept 12-14, 2015

Xiaomi's First Retail Store (image credit: Xiaomi)
Xiaomi’s First Retail Store (image credit: Xiaomi)

Xiaomi has opened its 22nd Mi Home in Beijing, and it is the company’s first retail store. The previous ones are for users to try out products, only selling accessories.

Ant Financial Services Group, Alibaba’s financial affiliate, announces “Internet Booster” (our translation) program, aiming to help some 1000 traditional financial institutions “internetize” their products and services over the next five years. The company will share user data with them and open up self-developed technologies to them.

Ant Financial also announced today that it has acquired a controlling stake in Cathay Century Insurance, a subsidiary of Taiwan-based Cathay Financial Holdings.

Youku-Tudou launches a crowdfunding platform. The first projects, two variety shows, a cartoon drama and a dance show, are initiated by original content contributors on Youku’s platform., a marketplace for mini-groceries operated from college dorms, has secured Series B funding led by Meituan, the leading group-buying company, and joined by Banyan Capital, and existing investors Bertelsmann Asia Investments and Vertex Venture Holdings.

Launched in December 2014, had covered more than 800 colleges in about 70 cities as of the first half of this year. Daily users were about 200,000. It has begun making profits in some cities. (via Sina Tech)

Mioji, which provides auto-generated personalized travel guides, has raised Series B funding led by Bertelsmann Asia Investments, and joined by DCM Ventures and Morningside Ventures. Launched in the second half of 2014, it currently only covers European cities.

Aixuedai, which offers financial products and services to college students, announces Series B round funding led by BOCGI Zheshang Investment Fund Management.


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