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Pony.ai will deploy over 1,000 Gen 7 robotaxis in Shenzhen through a partnership with taxi operator Xihu Group. Under an asset-light model, Xihu will …

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<a href="/company/pony-ai">Pony.ai</a> will deploy over 1,000 Gen 7 robotaxis in Shenzhen through a partnership with taxi operator Xihu Group. Under an asset-light model, Xihu will manage fleet operations while Pony.ai provides autonomous driving technology and dispatch, aiming to scale driverless mobility in urban China.

Singapore-based digital wealth firm Syfe has raised USD 80 million in Series C funding, comprising USD 53 million in new equity (Series C2) and USD 27 million secured in August 2024 (Series C1). The round, which follows its acquisition of Australian platform Selfwealth, includes backing from UK family offices and existing investors to support its APAC expansion.

Bolttech, a Singapore-headquartered insurtech firm, has closed its Series C round at USD 147 million, adding Sumitomo Corporation and Iberis Capital to its investor base while reaffirming a USD 2.1 billion valuation. Sumitomo will also launch an embedded insurance joint venture with Bolttech in Asia as the company expands globally.

<a href="/company/catl">CATL</a> repurchased 6.64 million A-shares for RMB 1.55 billion by May 31 under a buyback plan of up to RMB 80 billion. The shares were acquired via centralized bidding on the Shenzhen exchange, priced between RMB 231.50–237.38 per share. The plan aims to support equity incentives and runs through April 2026.

Chinese cloud tech firm Xunlei has completed its RMB 500 million acquisition of Kuanghui, the operator of Hupu. The deal includes an upfront payment of RMB 400 million, with the remainder to be paid in two equal installments over the next two years. The acquisition brings one of China’s top sports media platforms under Xunlei’s umbrella, strengthening its digital entertainment portfolio.

Zhipu AI's COO Zhang Fan will exit by the end of June to start a new venture, joining a string of core team departures as the <a href="/industry/ai">AI</a> firm grapples with underwhelming model updates and limited commercial traction. Sources say Zhipu is shifting from enterprise to government clients amid rising costs and mounting pressure from open-source rivals like <a href="/company/deepseek">DeepSeek</a>.

<a href="/company/huawei">Huawei</a> said its Pangu <a href="/industry/ai">AI</a> model outperformed peers like <a href="/company/alibaba">Alibaba’s</a> Qwen 2.5 using a new mixture-of-grouped-experts (MoGE) method that improves efficiency and balances workloads on its Ascend chips. Researchers reported top scores on Chinese benchmarks and strong performance in long-context tasks.

<a href="/company/pop-mart">Pop Mart’s</a> Labubu toys have sparked long lines and sold-out shelves in Dubai, Abu Dhabi, and Sharjah following the launch of its “Big Into Energy” series. The craze has spread across the UAE and into Saudi Arabia, as fans queue for rare models amid a wider regional toy frenzy.

Amber Electric has secured USD 45 million in funding to expand its battery and <a href="/industry/ev">EV</a> automation technology globally. The round was led by ETF Partners, with participation from existing backers. The firm reportedly powers 40% of Australia’s new automated home batteries and is scaling into Europe through utility partnerships, ahead of anticipated demand from Australia’s 2025 battery rebate.

Nebius Group will raise USD 1 billion through convertible notes due in 2029 and 2031 to support <a href="/industry/ai">AI</a> infrastructure expansion. The proceeds will fund computing power and data center growth. The notes, set to be issued on June 5, carry semi-annual interest and include conversion options under defined conditions.

<a href="/company/miniso">Miniso</a> has hired JPMorgan and UBS to prepare a Hong Kong IPO for its collectible toy brand Top Toy, sources said. The company is also seeking investment from sovereign funds ahead of the listing. Top Toy operates 280 stores and is expanding overseas, following rival <a href="/company/pop-mart">Pop Mart’s</a> surge.

Photo of Dhruv Arora, founder and CEO of Syfe.

How does finance become frictionless? Examine digital banking, payment innovation, and lending platforms redefining financial access.

The digital wealth platform is riding fresh capital and new hires as it scales across challenging investor terrain in the Asia Pacific.

With USD 80 million in funding, Syfe sets sights on APAC’s “mass affluent”

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With USD 147 million raised, Bolttech is pushing further toward its goal of embedding insurance into everyday experiences.

Bolttech closes Series C round, adds Sumitomo and Iberis to investor mix

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The first trilateral summit included discussions on establishing a regional business council for trade and investment.

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Pony.ai to deploy 1,000 robotaxis in Shenzhen

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With USD 80 million in funding, Syfe sets sights on APAC’s “mass affluent”

Bolttech closes Series C round, adds Sumitomo and Iberis to investor mix

ASEAN tilts toward China and Gulf states as Trump tariffs bite