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36Kr (EN)

Consumer

Robotics

Fintech

… solutions provider, has raised an eight-figure RMB sum in a Series A funding round led by Peakview Capital. It will use the newly raised capital to drive technology R&amp;D, product iteration, and market expansion. —<a href="https://36kr.com/p/3135077384313606">36Kr</a></li>
<li aria-level="1">Botinkit, a food tech company, has closed a Series A++ funding round, raising over USD 10 million. The round was led by China Creation Ventures, with Stars Capital serving as its financial advisor. The funds will facilitate Botinkit’s expansion efforts and further development of solutions for the food industry. —<a href="https://36kr.com/p/3135083547302408">36Kr</a></li>
<li aria-level="1">Vlai, a supplier of robotic components, has secured a seven-figure RMB sum in an angel funding round led by MiraclePlus. The company specializes in lightweight, high-density integrated joint motors for humanoid and four-legged robots. Vlai will utilize the funds for R&amp;D, product development, and mass production. —<a href="https://36kr.com/p/3133910873463301">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Sandbox VR, iMotorbike, Banyu, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Sandbox VR, a provider of location-based virtual reality experiences, raised USD 6.8 million through a convertible note funding round led by Gobi Partners, with participation from Abacus Ventures Growth Fund and Hyphen Capital.</li>
<li aria-level="1">iMotorbike, a platform for trading pre-owned motorcycles, raised USD 10 million in a Series A funding round led by Headline Asia, with participation from Ondine Capital, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst.</li>
<li aria-level="1">Banyu, a tech-enabled seaweed farming company, raised USD 1.25 million in seed funding led by Intudo Ventures. The funding will support the establishment of a seedling cultivation lab and the scaling of operations in Sulawesi.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Daniel Ek’s Neko Health raises USD 260 million, Pomelo Group acquires Arrow Checkout, latest China deals, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Australia

Southeast Asia

China

India

Oceania

… https://console.kr-asia.com/wp-content/uploads/2025/01/Bananain-Store-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2025/01/Bananain-Store.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-151774" class="wp-caption-text">Photo of a Bananain storefront. Photo and header photo source: Bananain.</figcaption></figure>
<h3>36Kr: How do you balance online and offline strategies?</h3>
ZL: Online channels offer convenience, while offline stores provide tangible experiences. We prioritize user interaction and store design over sheer scale. Our offline strategy aligns with current trends of localized and personalized retail experiences.
<h3>36Kr: With the market shifting away from traffic-driven growth, how has your strategy adapted?</h3>
ZL: We were among the first brands on Taobao to use a brand-centric approach to e-commerce. We invested heavily in visual and marketing materials, crafting a distinctive voice and emotional value in our brand communications.
Our focus remains on refining our fundamentals. A strong foundation in product quality and innovation naturally resolves traffic issues.
<h3>36Kr: Bananain recently launched a down jacket line. What’s your perspective on this competitive market?</h3>
ZL: The down jacket market is vast, blending functionality and fashion. Success in this segment depends on finding a unique positioning and catering to diverse consumer needs.
<h3>36Kr: How has growth looked for Bananain over the past two years?</h3>
ZL: Despite market challenges, we’ve maintained healthy growth, achieving around 30% annual growth. Prioritizing foundational issues like product quality and management ensures sustainable development, rather than chasing numbers at any cost.
<h3>36Kr: Given the current environment, maintaining such growth rates must be challenging.</h3>
ZL: We are still a very young company. In just eight years, we’ve experienced rapid growth, and there’s still immense potential for us as a brand. For us, maintaining curiosity, embracing change, and continuously innovating are key. We’re willing to take risks and explore new ways to address comfort-related challenges.
We’re also problem solvers at heart. Tackling tough issues, avoiding complacency, and embracing challenges head-on are part of our DNA. Within our team, there’s a strong culture of reflection—identifying problems, facing them directly, and finding solutions. This mindset keeps us moving forward, no matter the obstacles.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3106612414402305">article</a> was written by Li Xiaoxia for 36Kr.

Redesigning the basics: How Bananain built a brand around comfort

Retail

Consumer Services

… revenue.
Bilibili is also introducing automated advertising features to reduce barriers for advertisers and streamline long-term campaign management, aligning with strategies employed by other mature platforms.
One notable enhancement is the development of bidding system features that enable advertisers to analyze competitors’ bids, assess user value, and make real-time strategy adjustments. This functionality supports millisecond-level dynamic optimizations, which have the potential to significantly lower marketing costs.
Bilibili’s advertising business is now entering a phase of maturity. In the third quarter of 2024, the platform achieved single-quarter profitability, driven by seven consecutive quarters of advertising revenue growth over the past two years.
Looking ahead, Bilibili is expected to focus on refining its infrastructure and backend systems to further enhance advertising efficiency. Notably, its partner base grew by over 30% in 2024, while gross merchandise value (GMV) during the Singles’ Day shopping festival surged more than 150% year-on-year. High-value orders exceeding RMB 1,000 (USD 140) doubled compared to the same period last year, highlighting the platform’s continued growth trajectory.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3128076372285701">article</a> was written by Wang Yuchan for 36Kr.

Bilibili’s 2025 advertising game plan: Simplify, innovate, and grow

Bilibili

East Asia

Entertainment

Live Streaming

Video

Creative

Content

Creator Economy

… src="https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-1005x1024.jpg" alt="" width="550" height="560" srcset="https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-1005x1024.jpg 1005w, https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-295x300.jpg 295w, https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-768x782.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification.jpg 1080w" sizes="(max-width: 550px) 100vw, 550px" /><figcaption id="caption-attachment-151762" class="wp-caption-text">Alipay’s “Tap!” incorporates gamification features to engage users, similar to other apps.</figcaption></figure>
“At first, it felt unfamiliar, but now I use it occasionally because of the discounts—sometimes I can save a few RMB. However, if the staff don’t promote it actively or there’s no significant discount, I still prefer using WeChat’s QR code payment,” Joe said.
Interviews with users in Shanghai, Hangzhou, and Changsha reveal that "Tap!" resonates more with Android users, as the feature feels entirely new to them and involves fewer steps than QR code payments.
For iOS users, however, reactions have been mixed. Due to Apple’s NFC restrictions, iOS users must open the Alipay app each time, making the process less convenient. "It’s not just a tap—I have to set permissions and manually open the app, which makes it no different from QR code payments," one user said. Many believe that unless Alipay collaborates with Apple Pay to introduce a virtual card solution, adoption among iOS users will remain limited.
"Tap!" represents Alipay’s effort to reclaim a larger share of the offline payment market. While Alipay has thrived in online user conversions through Taobao, it has struggled to differentiate itself offline, where WeChat Pay dominates.
Historically, Alipay pioneered barcode and QR code payments a year ahead of WeChat. However, Alibaba lacked a robust mobile app ecosystem at the time. Taobao’s mobile app launched late in 2013, with a full pivot to mobile occurring only in 2014. In contrast, WeChat leveraged its social network and built-in scan feature to penetrate offline scenarios like food orders and ticket verification, riding the wave of mobile-first adoption. As a result, Alipay was forced to shift from being an innovator to a follower.
After six months, "Tap!" has gained traction among early adopters, but hurdles remain before it can rival QR code payments. For some users, "Tap!" feels too convenient, raising concerns about control. "With QR code payments, I can review the amount or use biometric options like face or fingerprint recognition. But with ‘Tap!’ I feel less in charge—it feels less secure," one user told 36Kr. Others worry about accidental payments if their phone is unlocked and inadvertently taps a device.
QR codes can also be placed anywhere, allowing customers to scan remotely or pre-pay parking tickets. In contrast, "Tap!" requires physical interaction with a device, creating potential bottlenecks during busy periods.
Chain stores and shopping centers are more willing to adopt "Tap!" because it helps integrate users into their membership systems, facilitating private domain operations. However, brands with self-checkout systems, such as Muji and Uniqlo, have yet to adopt the feature.
Smaller businesses, like mom-and-pop stores, often lack the resources or interest to promote "Tap!" effectively. Many storeowners accept subsidies but leave the devices idle, failing to encourage customer use. Additionally, "Tap!" requires stable internet connections for both merchants and users, while NFC payments need only the POS terminal to be online. Small shops with unstable networks often experience payment delays.
Some users criticize the Alipay app for being overly cluttered. "No app has as many users or as much money flowing through it as Alipay, but when you open the app, you’re bombarded with ads, mini games, and videos—it barely feels like it wants you to use it for offline payments,” a user wrote on Zhihu.
In an increasingly bloated app ecosystem, innovative features like "Tap!" may be Alipay’s best shot at reshaping consumer habits and cementing its status as China’s national payment app.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3115349943553544">article</a> was written by Peng Qian for 36Kr.

Can Alipay’s NFC push with “Tap!” disrupt QR code payments?

Ant Group

Alipay

Payments

… planning, will complement DeHaat’s existing offerings in market linkages, mechanization, and financial advisory services for farmers.
whereRelatedArticle
<h3>Aleph, uHoo, Cyfirma, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://aleph-labs.com/">Aleph Digital Technologies</a>, a Singapore-based AI solutions provider, raised USD 750,000 in seed funding led by Cocoon Capital, with participation from Graiden Gorge Investments.</li>
<li aria-level="1"><a href="https://getuhoo.com/">uHoo</a>, a Singapore-based provider of indoor environmental quality (IEQ) monitoring solutions, closed a USD 3.7 million funding round comprising equity and debt. Wavemaker Ventures and Menarco Development Corporation co-led the round, with participation from Undivided Ventures, Neo Office CEO Raymond Rufino, Lighthouse Canton, and other existing shareholders.</li>
<li aria-level="1"><a href="https://www.cyfirma.com/">Cyfirma</a>, a Singapore-based cybersecurity firm specializing in threat intelligence and management, received an undisclosed investment from MDI Ventures, the venture capital arm of Indonesia’s Telkom Group.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Sandbox VR and iMotorbike secure funding, Virtuos to acquire three studios, Meta and Temasek back Databricks, and more

Indonesia

Middle East

… toward proprietary technologies and custom designs tailored to specific use cases. For instance, Tezeus has developed its own mid-drive motors and systems to meet demands for minimalist, lightweight, and integrated designs. Similarly, DJI entered the e-bike drive system market in July 2024 with its Avinox product, targeting high-end e-bike brands.
In terms of outlook, the global e-bike market is projected to grow from USD 35 billion in 2024 to USD 62.25 billion by 2030, with a compound annual growth rate just below 10%, according to data from 10100.com.
From border patrols to anti-poaching operations, e-bikes are carving out niches in Europe, North America, and beyond. With the market now valued in the hundreds of billions, its potential is only beginning to unfold.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3121999700447490">article</a> was written by Leslie Zhang for 36Kr.

From border patrols to urban commutes, e-bikes are becoming the go-to

Transportation

Mobility

Growing connections between China and the Middle East are prompting Chinese and Hong Kong financial companies to set up shop in Dubai as they tap opportunities in trade finance and wealth management services.
Earlier this month, the Dubai Financial Services Authority (DFSA) granted state-owned investment bank China International Capital Corporation (CICC) a license to operate in the Dubai International Financial Centre, a special economic zone, Ian Johnston, the regulator's chief executive, told Nikkei Asia on the sidelines of the Asian Financial Forum in Hong Kong on January 14.
"It's a significant step forward for CICC to come in," said Johnston, adding that the approval will allow the Chinese bank to handle deals and investments for clients.
CICC declined to comment, but in a speech to the forum on January 13, CICC chairman Chen Liang vowed to maintain cooperation with domestic and international partners to explore and cultivate new business growth points.
The Chinese bank's move comes amid <a title="" href="https://asia.nikkei.com/Spotlight/Belt-and-Road/China-Hong-Kong-companies-tap-Middle-East-as-Western-ties-sour" target="_blank" rel="noopener">growing demand</a> for trade finance and wealth management services linking the Middle East and China. Saudi Arabia and the UAE are key targets for Chinese and Hong Kong players seeking new growth venues as the economic outlook remains challenging at home.
"Originally the Chinese banks were going to just follow the clients," Johnston said. "These days, they are branching out and entering into wealth management." They might be targeting some of the roughly 300,000 Chinese in the UAE as potential clients, he added.
Wealth managers are building client-facing functions in Dubai, which is a popular location for global banks to establish regional headquarters and reach broader markets such as Africa, Johnston said.
He also sees an "uptick" in hedge funds from Hong Kong looking to obtain licenses from the DFSA.
Hong Kong and Chinese financial firms' push into Dubai does not necessarily mean it's a "zero-sum" game at the expense of their home markets, Johnston stressed. He said many wealth managers still locate their businesses in Hong Kong, where they have more resources that include anti-money laundering mechanisms.
Chinese companies also face competition from global firms for Middle Eastern opportunities. This includes London-headquartered HSBC Holdings, which recently revamped its corporate structure to combine the Asia Pacific and Middle East businesses in an "Eastern Markets" group, as it sees growing trade corridors connecting the two regions.
AIFT, a Hong Kong-licensed virtual insurer, late last year also obtained approval through a Dubai entity to provide insurance products for licensed Web3 platforms or blockchain technology-enabled internet services.
In October 2024, Hong Kong-based CSOP Asset Management and Hang Seng Bank's investment arm listed two exchange-traded funds in Saudi Arabia's Riyadh with a combined size of USD 1.5 billion.
Not everyone is rushing to the Middle East, however. Noah Holdings, one of China's top wealth managers, had considered Dubai in 2023 but is not planning an active operation there, group CEO Yin Zhe told Nikkei Asia in a <a title="" href="https://asia.nikkei.com/Business/Markets/Wealth-Management/Top-China-wealth-manager-expands-to-Japan-as-home-market-stalls" target="_blank" rel="noopener">December 2024 interview</a>. Its target clients, Chinese entrepreneurs, are not living in the city, although some had purchased properties. Instead, it is looking to expand in Japan.
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Business/Finance/Dubai-lures-Chinese-banks-looking-for-opportunities-in-wealth-management" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Dubai lures Chinese banks looking for opportunities in wealth management

Hong Kong

… href="https://36kr.com/p/3100826123947521">36Kr</a></li>
<li aria-level="1"><a href="https://www.murphysec.com/">Murphy Security</a>, a supply chain security enterprise, has completed its pre-Series A round, raising an eight-figure RMB sum. Hundson Technologies and Fuzhuo Investment Management participated in this round, with Voyagers Partners acting as the financial advisor. Murphy Security’s offerings aim to mitigate risks such as ransomware and data breaches. —<a href="https://36kr.com/p/3129463379908612">36Kr</a></li>
<li aria-level="1"><a href="https://www.viitrix.com/">Viitrix</a>, an intelligent systems firm, has raised a six-figure RMB sum of angel funding round from iFlytek. The funds will be used primarily for R&amp;D. Established in 2021, Viitrix focuses on adapting large model technologies to edge computing for cost-efficient system upgrades. —<a href="https://36kr.com/p/3124023594702855">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Aevice Health, BeZero Carbon, Airwallex, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Aevice Health, a Singapore-based medtech company, raised an undisclosed amount of funding from Denka and Elev8.vc.</li>
<li aria-level="1">BeZero Carbon, a London-based carbon ratings agency, closed a USD 32 million Series C funding round led by Temasek-founded GenZero, with additional support from Japan Airlines, the Translink Innovation Fund, and various existing investors.</li>
<li aria-level="1">Airwallex, a cross-border fintech platform, completed its acquisition of MexPago, a licensed electronic payment fund institution based in Mexico.Meituan’s DragonBall Capital led the round, with participation from Jinqiu Fund, HongShan, and IDG Capital.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: BrightChamps acquires Edjust, Aleph raises seed funding, East Ventures closes secondary transaction with Coller Capital, and more

… non-Chinese company can employ many Chinese nationals as executives or board members. As long as the controlling shareholders—those holding 25% or more of the equity—are not Chinese nationals, the company will not be classified as Chinese. Conversely, even if a company’s management is entirely localized, it can still be deemed Chinese if its controlling shareholders are predominantly Chinese nationals.
<h3>36Kr: What proactive measures can Chinese companies take to mitigate risks?</h3>
Tim: First and foremost, compliance is crucial. Many Chinese firms rely on domestic agencies to set up shell companies in the US with no real business operations. In some cases, even basic details like the company’s address and phone number are inaccurate. This undermines credibility and becomes a liability during litigation. Every detail, no matter how small, must be accurate.
ZP: Compliance is non-negotiable. Although the CTA is temporarily halted due to lawsuits, once it resumes, companies must pay close attention to transparency in their ownership structure. The focus isn’t on shareholders’ nationality but on accurate and honest disclosures.
For instance, a company is non-compliant if its main shareholders are Chinese nationals but it fails to disclose this. However, if everything is transparently reported, even a majority Chinese-owned firm can remain compliant.
Additionally, the CTA mandates disclosures about individuals with significant control over a company’s operations, not just legal shareholders.
Richard: Chinese entrepreneurs in the US must adhere to local laws, regulations, and cultural norms. In the short term, separating governance and ownership from Chinese investors is crucial to mitigating risks. Over the long term, companies should build localized ecosystems, engage with communities, and align with US values to foster a positive brand image.
ZP: The path forward involves two key strategies: focusing on core competencies and pursuing full localization. Japanese and South Korean firms provide excellent examples—by localizing operations and blending seamlessly into US culture, many have become beloved brands while still maintaining their identity as foreign companies.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3130751436855557">article</a> was written by Ren Qian for 36Kr.

TikTok’s US ban is a cautionary tale for China’s global tech ambitions

TikTok