Money continues to flow into China’s startups

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Hello readers,

I started looking for my first home recently. Viewing units in person really drives home the fact that the higher your budget is, the better your options are.

Anyway, here’s a not-at-all-forced segue: It’s a list of the latest Chinese startups to close funding rounds, with solutions ranging from biotechnology to pet care and AI. Check them out in the link above or scroll down for a summary.

These startups now have the money to go on to bigger and better things. Hopefully, that’s the case for my house hunting efforts too.

But first, your quick bytes for today:

1️⃣ Samsung may shift a major part of its smartphone production to India

The South Korean conglomerate is in the process of winding down manufacturing in its home country, where labor costs are high. Currently, it makes roughly 50% of its phones in Vietnam, but sources say it may shift production to India, with plans to produce devices worth over US$40 billion in the South Asian nation.

2️⃣ China’s biggest food delivery platforms are acting to cut down on food waste

Ele.me and Meituan Dianping have joined the country’s food saving campaign after Chinese President Xi Jinping’s call to end food waste. Meituan is advocating for better consumer education on portion sizes, ingredients, and other information, while Ele.me is encouraging restaurants to provide customers with the option to order smaller portions.

No more mukbangs for China, I guess.

3️⃣ Netflix vs. Disney+, Southeast Asia edition

Netflix has plans to ramp up mobile-only subscription plans and local content in the region, just as Disney+ is set to launch in Indonesia next month. The Covid-19 lockdowns have driven a stronger appetite for content streaming across Southeast Asia, and it’s estimated that the subscriber numbers of video-streaming services in the region will reach 14.7 million by the end of 2020.

4️⃣ Selling TikTok is easier said than done

Chinese companies of all stripes get a funding leg up

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