In addition to China’s STAR Market, we also have updates from India’s moon mission, iflix, and PayMate
China’s new board for tech shares starts trading – TechCrunch
China’s new stock market STAR Market began operating today with 25 tech companies listed on the Science and Technology Innovation Board, TechCrunch reported.
Operated by the Shanghai Stock Market, the report said that the board is an initiative by the government to encourage more Chinese tech companies to list domestically by addressing concerns about governance.
Many notable IPOs of Chinese tech companies, such as Alibaba or Tencent, have taken place in either New York City or Hong Kong.
Plans for the STAR Market were first announced in November.
Another report by CNBC said that the success of STAR market is “far from a sure thing” since China has previously launched two other equity markets.
They have been receiving lesser attention than its primary stock exchanges in Shanghai and Shenzhen.
India prepares second attempt at moon mission – Bloomberg
Indian officials announced that the country’s second attempt at moon mission is set to happen on 2:43PM local time on Monday, Bloomberg reported.
The liftoff followed last week’s aborted launch, which was postponed less than an hour before launch due to a technical problem.
The country is set to launch an unmanned satellite called Chandrayaan-2, or “moon vehicle” in Sanskrit, as part of its effort to become the first to land on the moon’s south pole.
Also Read: What you need to know about data privacy in China
Indian digital payments startup PayMate raises US$25M from Visa, others – Entrackr
Indian digital payment startup PayMate has raised US$25 million in a series D funding round from Visa, Recruit Strategic Partners, and Brand Capital, Entrackr reported.
The funding round also included the participation of existing investor Mayfair 101.
It is set to be completed within the next two months.
The startup plans to use the new funding to support growth and international expansion to markets such as the Middle East, Africa, Central and Eastern Europe.
The expansion will be done in partnership with Visa.
iflix raises over US$50M in new funding round led by Fidelity – e27
Southeast Asian video streaming service iflix today announced the closing of a new funding round led by global asset manager Fidelity International, with participation from existing investors Catcha Group, Hearst, Sky, and EMC.
The size of the funding was undisclosed though the company said that the total size is in ‘excess of US$50 million’.
The funding round will be used to drive growth ahead of a prospective IPO.
iflix will also aggressively pursue growth strategies and further increase its userbase.
—
Image Credit: Markus Spiske on Unsplash
The post Today’s top tech news, July 22: China’s new board for tech shares starts trading appeared first on e27.