The annual 618 e-commerce festival in China, which ran from May 31 to June 18 this year and provides an important indicator for predicting consumer sentiment in China, witnessed a decrease in smartphone sales year on year. According to Counterpoint Research analyst Mengmeng Zhang, discounts and promotions during the 618
Venture Capital investment into UK-based tech startups saw the biggest annual opening on record despite the start of global economic uncertainty, with $11.3 billion raised in Q1 of 2022 compared to $7.9bn in Q1 of 2021, according to data from Dealroom and Tech Nation. As of the date
Insilico, a China-based AI-focused drug discovery firm has raised $60 million in its Series D funding round. * The funds will be used to support its Phase I Studies (Clinical trial and safety testing), develop its drug discovery platform, enter international markets, and build a robotic drug discovery lab and a
💔We offer our deepest condolences to the families and friends of the victims of a fatal terrorist attack on a church in Owo, Ondo State in Nigeria on Sunday. Our prayers are with them and the people of Ondo. - Techloy Team If you thought that we forgot to bring
Chinese electric car start-up WM Motor, also known as Weltmeister, has filed documents to go public on the Hong Kong Stock Exchange, although it didn't disclose pricing information. * WM Motor claims to have sold 83,495 electric cars as of December 2021, since its first model launched back in September
DoraHacks, [https://dorahacks.io/] a China-headquartered Hackathon organizer has raised $20 million in its new funding round from FTX Ventures and Liberty Ventures among others. * The funds will be used to launch Dora Grant DAO, a decentralized grant community, and Dora Infinite Fund, a venture fund focused on non-fungible tokens
Gusto Collective, [https://www.gustoxrlab.com/] a China-based brand content creation firm has secured $11 million in its seed funding round led by Animoca Brands and Gaw Capital. * The firm claims the new fund will be used to expand its tech-driven brand content making services in Asia and develop more
The biggest venture capital deals we tracked by region during the past week across emerging markets globally.
This week on The Draft, we curated startup and VC deals across emerging markets and covered India's cybersecurity market, China's plan for AI, blockchain, and robotics, and Russia's latest efforts on cryptocurrency.
Keep up with the business and financial stories that matter in the technology industry across emerging markets globally on The Draft, curated by Techloy Editor: Loy Okezie