Razorpay raises $160m; Meituan seeks $10 billion war chest

#India #funding - Indian fintech unicorn Razorpay has raised $160 million in its Series E funding round at a valuation of around $3 billion, 3X its earlier valuation of $1 Bn. The company raised its $100 million Series D funding round in October last year, which catapulted it to unicorn status. (Inc42)

#SouthKorea #funding - PharmCADD, an AI and Physics-based drug discovery company, raised $16 million series B funding. The funding will be used to advance Pharmulator. The funding round was led by strategic investors: Huons, Samyang Holdings and SD BIOSENSOR. (BusinessWire)

#Singapore #cybersecurity - Singapore-based Flexxon has developed a “breakthrough” computer drive that uses AI to block hackers from stealing its data. Called the X-Phy Cyber Secure SSD, the solid state drive can also automatically wipe its stored information in under a second if it is physically tampered with, said the maker. (Straits Times)

#China #AVs - China’s Meituan is raising as much as $10 billion from investors, hoping that it will be able to gain an edge on its e-commerce rivals by spending heavily on technology allowing it to deliver goods using drones and self-driving cars. (WSJ)

#China #AVs - China’s first autonomous bus line started commercial operations in Yongchuan district of Chongqing on Monday with passengers boarding a red Baidu Robobus bus for city trips. (ECNS)

#China #robotaxis- As the autonomous driving race in China heats up, Didi is rushing to expand its car fleets by picking Swedish automaker Volvo, an old partner of Uber, as its ally. Didi said on Monday it will be using the XC90 SUVs of Volvo, which has been owned by Chinese auto company Geely since 2010, for its global network of robotaxis in the long term. (TechCrunch)

#China #US #semiconductors - The current chip crisis sweeping the global auto industry is estimated to alleviate in the months to come, but carmakers in China are busy bracing themselves to prevent a similar scenario in the future. For, vehicles are becoming computers on wheels. (China Daily)

#China #Japan #US #tradewar - U.S. President Joe Biden said he had a productive summit with Japanese Prime Minister Yoshihide Suga on Friday and the two countries were committed to working together to meet the challenge posed by China and issues including North Korea. (Reuters)

#China #Japan #US #trade - At the Biden-Suga summit, strong language on China, including a notable mention of Taiwan, was tempered by Suga’s precarious situation at home. Suga is hoping to be re-elected as the LDP’s leader, ahead of a general election expected this October. (The Diplomat)

#China #US #tradewar - In a letter this week, congressmen called for banning exports of electronic design automation software to China, joining a chorus of increasingly ‘hawkish’ voices in Washington. (SCMP)

#China #US #semiconductors - Michael McCaul of Texas, the top Republican on the House Foreign Affairs Committee, and Arkansas Senator Tom Cotton have asked the US Department of Commerce to make it mandatory for American based tech firms that make electronics design automation tools, which are used to help design computer chips, to obtain a license from the government before allowing exports to China. (Gizmo China)

#China #US #AIrace - China has made technological strides in the AI field. Should that be viewed as a threat? The U.S. National Security Commission on Artificial Intelligence released its final report recently, listing China as a strategic competitor to the United States in this field. (The Diplomat)

#China #US #tradewar - A top Chinese diplomat, Vice Foreign Minister Le Yucheng, said Friday that U.S. policy toward China is “too negative" and that cooperation could be critically important as the Biden administration focuses on combatting COVID-19 and promoting economic recovery. (AP)

#SouthKorea #drones - South Korea said on Sunday it will spend 42 billion won ($37.6 million) by 2025 to develop a response system against illegal drones amid growing security threats from the fast-developing technology. (DaijiWorld)

Carrington Malin helps large organisations, digital brands and fast growing tech ventures with brand, communications and go-to-market strategies.