MGI Tech, a major provider of COVID-19 testing equipment in China, completed a $1 billion series B round led by IDG Capital and Citic Private Equity Funds Management. The second round was much bigger than the first, which brought in $200 million a year ago, though the company had expected […]
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China startup NIO gains $1bn state funding to chase Tesla
NEW YORK/PALO ALTO, U.S. — When Chinese electric-car maker NIO sealed a 7 billion yuan ($1 billion) deal with a group of state investors Wednesday, the company wasted no time spreading the word to potential buyers. Many consumers, while admiring NIO’s vehicle models, have been on the fence about making […]
China electric car champ NIO chases Tesla with $1bn state funding
NEW YORK/PALO ALTO, U.S. — When Chinese electric-car maker NIO sealed a 7 billion yuan ($1 billion) deal with a group of state investors Wednesday, the company wasted no time spreading the word to potential buyers. Many consumers, while admiring NIO’s vehicle models, have been on the fence about making […]
China’s NIO seals $1bn in state funding to withstand Tesla
NEW YORK/PALO ALTO, U.S. — When Chinese electric-car maker NIO sealed a 7 billion yuan ($1 billion) deal with a group of state investors Wednesday, the company wasted no time spreading the word to potential buyers. Many consumers, while admiring NIO’s vehicle models, have been on the fence about making […]
China’s Xiaomi seeks up to $1bn with first international bond
HONG KONG — China’s Xiaomi, the world’s fourth-largest smartphone maker, is seeking up to $1 billion through its first bond sale on international markets, according to people familiar with its financing plans. The move comes three weeks after the company surprised analysts by posting growth of 27.1% in October-December sales […]
Big Tech steps in with $1bn rescue funds as governments fall short
TOKYO — Global tech heavyweights such as Google and Alibaba Group Holding are setting up rescue funds to help small companies hard hit by the coronavirus pandemic, with total assistance approaching $1 billion as government programs fall short. As economists predict long-lasting economic pain, tech giants are being compelled to […]
Twitter boss Jack Dorsey pledges $1bn to fund fight against coronavirus
Twitter founder Jack Dorsey has pledged $1bn (£810m) of his personal wealth to help fight the coronavirus pandemic. The chief executive of Twitter and payments Square plans to transfer $1bn in shares to a new company which will initially fund coronavirus aid efforts. A $100,000 donation from the new limited […]