Chinese co-working space unicorn Ucommune raises $43.5m, hits $1.8b valuation

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Ucommune’s latest financing comes weeks after rival WeWork China announced raising $500 million in fresh funding from investors including Singapore’s Temasek and SoftBank.

Ucommune

China Digest: OneSpace raises $44m; Accenture backs AI startup Malong

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China’s OneSpace Technology has raised an RMB 300 million ($44 million) Series B round led by CICC Jiatai Equity Funds. 


China Literature tumbles after announcing $2.3b New Classics deal

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Analysts are skeptical because one Tencent affiliate is buying another one at a price that may benefit the parent company.


China: Audio streaming platform Ximalaya snags $580m ahead of IPO

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The latest funding round sees Ximalaya’s valuation go up to RMB24 billion ($3.48 billion) ahead of a rumoured IPO on the Hong Kong Stock Exchange in the second half of 2019.


Temasek backs Orchard Therapeutics’ $150m Series C round

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Temasek is a return backer, having previously invested in Orchard’s $110-million Series B funding round in December 2017.


Musk explains ‘funding secured’ but it’s unlikely to get the SEC off his back

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In a blog post, Musk sought to clarify by saying that Saudi Arabia’s sovereign wealth fund had been urging him since the beginning of 2017 to take Tesla private.


Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp

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Existing investors Matrix Partners India, Stellaris Venture and angel investors also participated in the funding round.


India: Cadila Healthcare to acquire 51% stake in Windlass for $22m

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Objective of this investment is to expand pharma manufacturing footprint.


Innogy sells stake in $2.6b wind project to Japanese firms

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The deal gives the Japanese firms a stake in a regulated energy infrastructure asset in Europe


Malaysia’s Petronas acquires 30% in Senegal oil, gas block

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This is Petronas’ first project in the West African nation.