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… for pets, has closed a seed funding round, securing an eight-figure RMB sum. The round was led by Light Cone’s frontier technology fund and Lingyi Capital, with additional investment from Kylinhall Partners. The proceeds will be used to fund R&amp;D, team expansion, and market outreach. —<a href="https://36kr.com/p/3074076365419392">36Kr</a></li>
<li aria-level="1">SAIC Anji Logistics, the automotive logistics arm of SAIC Motor, has secured RMB 2 billion (USD 280 million) from state-affiliated investors Shanghai International Port (Group) and COSCO Shipping Holdings. Each investor acquired a 10% stake, while SAIC Motor retained 80% ownership. —<a href="https://www.dealstreetasia.com/stories/saic-motors-funding-422993">DealStreetAsia</a></li>
<li aria-level="1">GCL Perovskite, a producer of perovskite solar cells, has raised RMB 500 million (USD 70 million) in a Series C1 round of financing led by Goldstone Investment and joined by Kunshan Hi-tech Group, HongShan, and Hanyang Capital. The investment will facilitate the establishment of a gigawatt-class solar cell factory and develop tandem perovskite solar modules. —<a href="https://www.dealstreetasia.com/stories/chinas-gcl-perovskite-raises-69m-series-c1-round-led-by-goldstone-investment-422876">DealStreetAsia</a></li>
</ul>
whereRelatedArticle
<h3>Carro, CarDekho, Longbridge, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Carro, Asia Pacific’s largest online used car marketplace, secured an investment from Woori Venture Partners, the venture capital arm of Woori Financial Holdings. The exact amount remains undisclosed.</li>
<li aria-level="1">CarDekho SEA, the Southeast Asia arm of India’s CarDekho Group, raised USD 60 million in its first external funding round. The round, co-led by Navis Capital Partners and Dragon Fund, has brought CarDekho SEA’s total funding to over USD 100 million.</li>
<li aria-level="1">Longbridge Group, a fintech and securities firm based in Singapore, raised over USD 100 million to fuel its international expansion.</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: Fleet Space raises Series D funding to expand platform reach, Citigroup backs Astra Tech with USD 500 million, latest China deals, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Malaysia

Southeast Asia

China

India

Middle East

Oceania

… locally.
Mexico views foreign investment as a means to enhance employment and economic growth, presenting a more sustainable alternative to the gray market goods and IP risks associated with businesses like locally based Yiwu International Trade City.
whereRelatedArticle
As Mexico’s e-commerce market expands—expected to reach USD 28 billion in 2024, a 22% year-on-year increase—the demand for traditional physical outlets has declined. Simultaneously, the government is making significant investments in infrastructure. Mexico’s transport and communications secretariat plans to allocate over USD 22 billion this year to develop ports, railways, and highways to meet logistical demands.
Despite ongoing challenges in infrastructure and public safety, Mexico’s trajectory emphasizes government-led initiatives, foreign investment, and domestic capacity building. The decline of businesses like the Yiwu International Trade City was likely inevitable—the recent raid simply accelerated the outcome.
The timing of the raid coincides with Trump’s recent announcement on his social media platform, proposing a <a href="https://www.economist.com/the-americas/2024/11/07/donald-trump-is-poised-to-smash-mexico-with-tariffs">25% tariff</a> on all imports from Mexico and Canada. Such a move would undermine the tariff-free benefits of the United States-Mexico-Canada Agreement (USMCA) and could destabilize Mexico’s domestic industries.
At this economic juncture, Mexico’s decisive crackdown reflects a broader strategy to prioritize local industries and strengthen trade policies. It underscores the growing importance of regulatory compliance for businesses operating internationally—no market will tolerate gray areas indefinitely.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3071515498967936">article</a> was written by Hu Yiting for 36Kr.

Mexico cracks down on Chinese gray market as trade policies tighten

E-commerce

Retail

Consumer Economy

Latin America

… ensuring access to fresh promotional materials. Collaborations with Xiaohongshu influencers, particularly those focused on parenting and education, aim to position Disney’s family-friendly content directly with young mothers.
Localization efforts extend beyond marketing to influence content creation. For instance, Japanese audiences favor foreign films dubbed by local voice actors, while Chinese viewers largely reject dubbed versions. As a result, Disney has gradually phased out Chinese dubbing for its films. Additionally, feedback on recent Marvel productions—ranging from critiques of overused multiverse narratives to convoluted quantum mechanics—has been relayed back to Disney’s headquarters. “Rest assured,” Choi said with a laugh, “the next few Marvel films are set on Earth. Even if aliens appear, they are coming to us.”
The surprise success of Alien: Romulus in China highlights the untapped potential of niche genres. When Disney acquired 20th Century Fox, skeptics feared that its mature properties might be sanitized to fit Disney’s family-friendly image. However, the company has managed to preserve Fox’s distinct identity while seamlessly integrating it into its broader portfolio.
Audiences now wonder if Disney can expand its creative horizons. If the company can produce films like Alien: Romulus, why continue remaking classics like Snow White and The Little Mermaid? Choi defended Disney’s commitment to its core values: “When you watch a Disney film, you can always expect joy, harmony, and an uplifting spirit. Even when audiences know there’s going to be a happy ending, we’re confident the journey will still move them.”
Disney is also experimenting with reimagining classic villains like Cruella de Vil and Scar from The Lion King. “Even when focusing on a villain’s story, the tone will remain family-friendly, and there will always be a happy ending,” Choi said. “Parents never have to worry about inappropriate content in a Disney film.”
While staying true to its promise of “telling great stories,” Disney is making subtle adjustments to reflect contemporary values. For example, Snow White is being reimagined as a courageous and strong-willed heroine, while Toy Story 5 will explore themes of technology addiction through the lens of childhood nostalgia.
“Our goal is to tell good stories that ensure audiences at every stage of life can resonate with Disney’,” Choi said.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3046232742185607">article</a> was written by Wang Yuchan for 36Kr.

Disney leans on localization to win over China and APAC audiences

Entertainment

Video

Creative

Content

… China. "We need to change the dependency rate, because it is too high," an official from Japan's industry ministry told Nikkei Asia. But "companies cannot go in [and invest in projects outside of China] because the cost is high and the demand is not increasing."
Even ongoing projects face an uncertain future.
"We need support from the government and we need understanding from the customers [about higher prices] and our effort to reduce costs," said Tatsuya Murakami, deputy manager of Sojitz's fluorine business development section. "We are trying to make it work through all these factors."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Business/Technology/Tech-Asia/Japan-South-Korea-struggle-to-reduce-reliance-on-China-tech-materials" 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>.

Japan, South Korea struggle to reduce reliance on China tech materials

Deep Tech

Semiconductors

Japan

Korea

… alternative approaches.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3073398098015105">article</a> was written by Yong Yi for 36Kr.

As chatbots fall short, ByteDance bets on Dreamina as the “TikTok of the AI era”

Bytedance

China Tech

Artificial intelligence

… published by 36Kr. This <a href="https://36kr.com/p/3053103540539783">article</a> was written by Zhou Xinyu for 36Kr.

Is Luma AI’s Dream Machine a worthy contender to OpenAI’s Sora?

… prioritizing passenger and cargo space to ensure practicality and comfort during family outings. Xiaomi’s first vehicle, the SU7, faced criticism for its spatial constraints due to its elongated front and fastback design. The rear cabin had limited headroom—barely a fist’s width—and standard legroom of 825 mm, shortcomings that left the mid-to-large sedan falling short for family users. Sharing the same platform, the YU7 may encounter similar limitations.
That said, Xiaomi’s experience with the SU7 provides an opportunity to refine the YU7. However, competitors have already made significant progress in addressing space concerns, especially in second-row seating.
For instance, Tesla’s Model Y has enhanced rear seat comfort in previous updates, while the recently launched midsize SUV <a href="https://kr-asia.com/nio-launches-the-onvo-l60-suv-throwing-down-gauntlet-to-teslas-model-y">Onvo L60</a>, though smaller than the YU7, boasts 860 mm of second-row legroom. Nio’s Onvo is also set to release a larger five-seat SUV next year that will directly compete with the YU7.
In terms of space and comfort, Xiaomi has yet to establish a clear advantage. For family users, these factors often outweigh other considerations. If the YU7 relies solely on aesthetics and brand recognition, it risks cannibalizing the SU7’s customer base instead of broadening Xiaomi’s market reach.
The YU7 will likely secure orders from Xiaomi’s loyal user base, but achieving widespread success will require more than brand loyalty. It must appeal to practical needs and deliver innovations that resonate with a broader audience. To stand out, Xiaomi may need to address interior space optimization, competitive pricing, or introduce novel features that fill unmet consumer needs. Leveraging Xiaomi’s ecosystem to create a distinctive user experience could also provide an edge.
Ultimately, Xiaomi must craft a compelling product tailored to family users, a challenge that aligns with the innovative and enterprising vision of Lei Jun, Xiaomi’s founder. By extension, the success of the YU7 will hinge on Xiaomi’s ability to translate these strengths into concrete market advantages.
<figure id="attachment_31224" aria-describedby="caption-attachment-31224" style="width: 1000px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="wp-image-31224 size-full" src="https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7.jpg" alt="Photo of Lei Jun, chairman and CEO of Xiaomi." width="1000" height="665" srcset="https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7.jpg 1000w, https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7-768x511.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /><figcaption id="caption-attachment-31224" class="wp-caption-text">Founder Lei Jun has been a <a href="https://kr-asia.com/xiaomi-ceo-lei-jun-expresses-unwavering-confidence-in-victory-at-su7-launch">key proponent</a> of Xiaomi’s move into automaking. Photo of Lei Jun, from KrASIA’s archive.</figcaption></figure>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3072551330476928">article</a> was written by Xu Caiyu for 36Kr.

Xiaomi’s new YU7: Can it stand up to Tesla’s Model Y?

Electric Vehicles

Mobility

… href="https://36kr.com/p/3071430459060869">36Kr</a></li>
<li aria-level="1"><a href="https://www.nedplusar.com/">NED+AR</a>, a display optics innovator, has secured over RMB 100 million in a Series C funding round. Hefei Construction Investment Holding, Baohe Venture Capital, and the Beijing New Materials Industry Investment Fund were among the investors. The funds will be directed toward developing extended reality (XR) displays and vision-safe optical technologies. —<a href="https://36kr.com/p/3072501328441989">36Kr</a></li>
<li aria-level="1"><a href="https://merchipmicro.com/">Merchip</a>, a developer of reconfigurable digital power management chips, has bagged an eight-figure RMB sum in its latest funding round. Yuqiaohe Investment and Suzhou High-tech Science and Technology Innovation Fund participated. —<a href="https://36kr.com/p/3064341169104001">36Kr</a></li>
<li aria-level="1">Planck Semicon Technology, a semiconductor inspection equipment provider, has completed its pre-Series A funding round, raising an eight-figure RMB sum. Guozhong Capital was the sole investor. —<a href="https://36kr.com/p/3071415259673479">36Kr</a></li>
<li aria-level="1"><a href="https://www.lifengas.com/">LifenGas</a>, a high-tech gas separation and supply solutions firm, has raised a nine-figure RMB sum in a funding round led by a Chinese state-owned venture capital fund. The company will use the proceeds to enhance its product offerings and scale operations internationally. —<a href="https://36kr.com/p/3071645231264643">36Kr</a></li>
<li aria-level="1"><a href="https://www.v-1.com/">V1</a>, an advanced manufacturing company focused on AI and precision automotive molds, has raised an eight-figure RMB sum in funding. The round was supported by Redpepper Capital and overseas industrial investors. V1 will use the funds to expand its global operations and support US IPO preparations. —<a href="https://36kr.com/p/3071521395176069">36Kr</a></li>
<li aria-level="1"><a href="https://www.ldcems.com/">IDCEMS</a>, a semiconductor storage and cloud computing firm, has secured tens of millions of RMB in a pre-Series A funding round. Matrix Partners and CICC Capital participated. The funds will be allocated toward market expansion, R&amp;D, and supply chain upgrades. —<a href="https://36kr.com/p/3071121014977415">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Omni HR, Kamereo, Luma AI, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://www.omnihr.co/">Omni HR</a>, a Singapore-based human resources management platform, secured USD 7.4 million in a funding round led by Picus Capital, with participation from Alpha JWC Ventures, January Capital, and Ratio Ventures.</li>
<li aria-level="1">Kamereo, a Vietnam-based B2B food sourcing platform, reportedly secured USD 7.8 million in Series B funding from Sumitomo Corporation, Inspire, SMBC Venture Capital, Mitsubishi UFJ Capital, and Reazon Holdings.</li>
<li aria-level="1">Luma AI, a Silicon Valley-based developer of visual artificial intelligence technologies, reportedly landed USD 90 million in its latest funding round. The round featured participation from Amazon, AMD, Factorial Funds, LDV Capital, and existing investors a16z, Amplify Partners, and Matrix Partners.</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: Carro and CarDekho SEA secure funding, Longbridge bets on lifetime commission-free trading with over USD 100 million raised, nine China deals, and more

Singapore

Indonesia

Philippines

… directly into TCL hardware to further reduce the app’s footprint.
whereRelatedArticle
While BrowseHere initially benefited from TCL’s market presence, it now boasts over 70% of users from non-TCL devices like Xiaomi and Hisense. Its free access and small size are major attractions for LATAM users, who often download the app independently from online forums.
With a rapidly expanding user base, LATAM users remain BrowseHere’s largest demographic. To better meet their needs, the company plans to introduce features like shared bookmarks, enabling users to exchange book and music lists online.
While China’s smart TV market has reached saturation, the iterative demand in emerging markets ensures that applications like BrowseHere continue to explore new opportunities abroad.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3014479001806343">article</a> was written by Hu Yiting for 36Kr.

Smart TVs are booming in LATAM, and TCL’s BrowseHere is cashing in

LATAM