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Chinese Venture Capitalists Take A Shine To Startups Again - Nikkei Asian Review

by asia.nikkei.com posted 2weeks ago 14 views
SHANGHAI -- Zong Wenhao, the chief executive of Shanghai DominantTech, an autonomous driving startup, recently breathed a sigh of relief as his company managed to raise additional capital after months of frustration. The funding valued the company at 100 million yuan ($14.6 million), a 10th of what Zong had expected, but the fact that the Shanghai-based startup was able to attract fresh investment after having sought it out since the autumn of 2019 speaks to the recuperation of the market. "We are far from satisfied with the valuation," Zong said, "but we have succeeded in raising money, anyway."

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