Bangladeshi retail tech startup raises $74m from US fund
SINGAPORE — ShopUp, a Bangladesh-based startup that is trying to digitalize mom-and-pop shops in the country, has raised $74.4 million in a round led by Valar Ventures, according to Accounting and Corporate Regulatory Authority filings seen by…
Chinese Electric SUV Maker Li Auto Raises $1.1 Billion in IPO
(Bloomberg) — Chinese carmaker Li Auto Inc. raised $1.1 billion in an above-range U.S. initial public offering, adding to the market focus on electric-vehicle companies, according to terms of the deal reviewed by Bloomberg. Li Auto sold 95 million…
STMicro Raises 3Q and FY Guidance on Improved Market Conditions
(Bloomberg) — STMicroelectronics NV, the chipmaker that supplies Apple Inc. and Tesla Inc., raised both its third quarter and full year revenue forecasts as it sees “improved market conditions” through the end of the year. The company said…
Xpeng Raises $500 Million Even as China EV Market Sputters
(Bloomberg) — Electric-vehicle maker Xpeng Motors Technology Ltd. raised about $500 million from a group of venture investors, showing Chinese startups with promising car models can attract funding even as the industry’s sales slump. Investors in…
Apple Chipmaker TSMC Raises Outlook in Sign of Tech’s Resilience
(Bloomberg) — Taiwan Semiconductor Manufacturing Co. raised its outlook for 2020 revenue and spending, counting on global 5G smartphone and high-end computing demand to stay strong despite growing signs of a second coronavirus wave. Apple Inc.’s…