China’s robotaxis charged ahead in 2021

Autonomous driving startups in China are in an arms race to put passengers in their machine-driven vehicles. Every few weeks, news arrives that another major player has got the greenlight to launch a new pilot program or a small-scale service. These press releases, often dotted with regulatory jargon and flowery language to aggrandize the companies’ […]

How Meituan is redefining food delivery in China with drones

On a congested sidewalk next to a busy mall in Shenzhen, a 20-something woman uses a smartphone app to order a milk tea on Meituan, a major food delivery company. In under ten minutes, the pearl-white drink arrives, not on the back of one of the city’s ubiquitous delivery bikes, but descending from the cloudy […]

Lightspeed China raises $920M for new funds, adds five partners

Lightspeed China Partners, the China-focused vehicle of Lightspeed Venture Partners, said Tuesday it has closed the largest fundraising rounds in its history. The new injection came under three years after its last raise in early 2019. The capital went towards two funds: Lightspeed China Partners V with $460 million for early-stage startups and Lightspeed China […]

The rapidly changing investor calculus on China’s tech giants

As wave after wave of regulatory crackdowns have dominated China tech news in 2021, one can be excused for losing track of what is being regulated, who is doing the regulating, and what exactly the regulations are. From fintech to data management to education, the rules of the game are being re-written by a range […]

Europe’s quick-commerce startups are overhyped: Lessons from China

Alexander Kremer Contributor Share on Twitter Alexander Kremer is partner and head of China at venture capital firm Picus Capital. More than 10 companies currently compete across Europe with an instant grocery delivery business model. Half of them were established in 2020, the year of the pandemic. These companies have raised more than $2 billion […]

As China shakes up regulations, tech companies suffer

The Exchange spent a little time on Friday ruminating on the impact of then-rumored regulation in China targeting its edtech sector. News that the Chinese government intended to crack down further on the education technology market hit shares of public, China-based edtech companies. It was a mess. Then over the weekend, the rumors became reality, […]