Latest news with #GSRVentures
Yahoo
4 days ago
- Business
- Yahoo
Stablecoin payments firm KUN closes Series A round
KUN, a Hong Kong-based company specialising in stablecoin payments, has closed its Series A funding round with oversubscription. The company, which has been operational for 20 months, said it has raised more than $50m since its establishment. BAI Capital and GSR Ventures, existing investors, increased their investments, while a Hong Kong-listed conglomerate and Eternium Global, joined the round as investors. KUN reported a 200% month-over-month increase in transaction volume over the past 12 months and offers cross-border payment solutions for enterprise and institutional clients. KUN founder and CEO Louis Liu said: "KUN will leverage the proceeds from this round to deepen R&D investments in cross-border transaction security, underlying blockchain infrastructure, and wallet technologies, while accelerating upgrades of AI-driven intelligent risk control systems and compliance stacks (KYC/AML/KYT). 'Simultaneously, we will synergise our existing Hong Kong and Singapore licensing frameworks with global regulatory applications and institution network expansions. By collaborating with ecosystem partners worldwide, KUN aims to build a seamless Web2-Web3 hybrid digital payment network, strengthening its global operational foundation. Last month, KUN partnered with TradeGo, a digital platform servicing the global commodity trade market. The collaboration will integrate blockchain technology for electronic Bill of Lading (eBL), enhancing cross-border capabilities, and incorporate stablecoin settlement infrastructure. KUN operates with licences in multiple jurisdictions, including Hong Kong, Singapore, and Europe, primarily serving in Greater Bay Area, Southeast Asia, the Middle East, Africa, and Latin America. "Stablecoin payments firm KUN closes Series A round " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
05-06-2025
- Business
- South China Morning Post
China's RedNote, a TikTok alternative, sees valuation soar with backing from GSR Ventures
RedNote 's valuation surged to US$26 billion in recent market transactions via a major fund, an unusually fast ascent that underscores how the Chinese social media phenomenon is making headway against TikTok in the US. The start-up's price tag emerged through a document from a GSR Ventures Management vehicle that showed shares of the fund changing hands. RedNote comprises 91 per cent of the GSR fund's assets, according to the internal document reviewed by Bloomberg News. The portfolio's stated net asset value as of end-March translated to a big jump in the fledgling social media firm's valuation over its last-reported US$20 billion. RedNote – also known as Xiaohongshu, which means 'little red book' – came under the spotlight in January as an alternative to TikTok , which faced threats of a ban in the US. The social media platform has garnered traction among investors following the Chinese government's pledge to support private firms and unwind a crackdown on its tech sector. The latest valuation surpasses RedNote's Covid-era peak in 2021, and would be a boost for an initial public offering that the industry anticipates to happen as soon as this year, depending on market trends. A spokeswoman for GSR declined to comment. RedNote representatives did not respond to a request for comment. 11:02 Why are American TikTok 'refugees' migrating to China's RedNote ahead of possible US ban? Why are American TikTok 'refugees' migrating to China's RedNote ahead of possible US ban? RedNote, based in Shanghai, is a go-to platform in China for travel reviews, lifestyle tips and shopping guides. Co-founded in 2013 by Charlwin Mao Wenchao and Miranda Qu Fang, it counts today on both advertisement and e-commerce for income. The company was on track to double profits to more than US$1 billion in 2024.
Bloomberg
04-06-2025
- Business
- Bloomberg
Xiaohongshu Valuation Hits $26 Billion in Boost for Backer GSR
Xiaohongshu 's valuation surged to $26 billion in recent market transactions via a major fund, an unusually fast ascent that underscores how the Chinese social media phenom is making headway against TikTok in the US. The startup's price tag emerged through a document from GSR Ventures Management Co. vehicle that showed shares of the fund changing hands. Xiaohongshu comprises 91% of the GSR fund's assets, according to the internal document reviewed by Bloomberg News. The portfolio's stated net asset value as of end-March translated to a big jump in the fledgling social media firm's valuation over its last-reported $20 billion.
Globe and Mail
23-05-2025
- Business
- Globe and Mail
Song Shiqiang of Slkor: Trials and Reflections on AI Large Model Text Writing
Nowadays, almost everyone is familiar with artificial intelligence (AI) large models. Even beyond square-dancing aunties, people feel embarrassed if they aren't using one. Popular models like Doubao, ChatGPT, Kouzi, and the recently trending DeepSeek dominate downloads and usage. Among my peers in Huaqiangbei, several "cultured" folks claim their article-writing skills have skyrocketed thanks to these models. The intelligent customer service robots on Kinghelm's ( and Slkor's official websites are built on the Kouzi model, integrated with Bing's database, and users report satisfactory results. However—yes, there's a "but"—many are reflecting on, or even questioning, the overheated AI frenzy. A well-known journalist friend recently vented on social media, saying interview replies she received lately were eerily similar, "as if they all had the same faceless AI assistant behind them." When I asked if interviewees were polishing AI-generated drafts before sending them, she agreed emphatically, lamenting, "Are we training the tools, or are the tools training us?" Key Features of AI Model DeepSeek: Search, Q&A, and Writing From my observations in Huaqiangbei, technologies like AI, the metaverse, humanoid robots, and autonomous driving have improved efficiency in certain sectors, but they haven't yet triggered a "Kondratieff cycle" of large-scale economic growth. Instead, they've caused job losses in some fields. Recently, Zhu Xiaohu of GSR Ventures poured cold water on the AI hype. As the founder of Kinghelm and Slkor ( I'd like to share my practical experiences, insights, and reflections on using these models, particularly in writing. Key Features of AI Model DeepSeek: Search, Q&A, and Writing Last month, my article Applying Economics, Sociology, and Management Theories to Drive Slkor and Kinghelm's Rapid Growth! surpassed 10 million reads. It explored macroeconomic theories from the Austrian School, integrating Joseph Schumpeter's "innovation," Friedrich Hayek's "trust in markets," Adam Smith's "division of labor and free exchange," Max Weber's organizational behavior theories, and Peter Drucker's "knowledge worker" management principles into our business practices. A sophisticated Huaqiangbei businesswoman with both beauty and brains took a liking to the article and decided to "optimize" it using DeepSeek-R1. Here's the result: DeepSeek's Optimization of Song Shiqiang's Economics Article Title: How This Company Used Economics to "Level Up" — Kinghelm and Slkor's Growth Playbook Opening: A business miracle in tough times. While most companies complain about "hard times," Kinghelm (electronic components) and Slkor (semiconductors) have soared like rockets. Founder Song Shiqiang credits economics textbooks. By mastering three "killer moves," they've carved out a niche. Move 1: Innovation as Fruit Farming l Tech Roots: Slkor partnered with top Korean teams to develop SiC chips for EVs, enhancing battery life and charging speed. l Management Watering: Weekly "Idea King" contests and quarterly "Tech Showdowns" keep creativity flowing. l Profit Fertilizer: Engineers earn up to 8% profit shares from successful innovations. Song Shiqiang Reviews Kinghelm 's Al Customer Service Robot Move 2: Team as Lego Blocks l Skill Mapping: Employees get "competency profiles" for optimal team assembly. l Supply Chain Duplex: A smart factory in Jiangxi runs 24/7, while partnerships with German firms like Würth Elektronik ensure material backups. Move 3: Simplify Management l Task Delivery: An AI dispatch system assigns tasks like food orders. l Error Fund: R&D teams get a "mistake budget," uncovering 3 hidden opportunities last year. Song Shiqiang Secret Weapons: l Telescope: Betting on EV chips 5 years ago. l Piggy Bank: Saving 3% profits yearly for crises. l Network: A 300-supplier alliance sharing tech intel. Conclusion: Kinghelm's website ( isn't just a catalog—it's a "playbook" showing how textbook theories translate into real profits. Their story proves that economics isn't abstract; applied right, it lets businesses "cheat-code" their way to success! Song Shiqiang Reviews SLKOR's Al Customer Service Robot AI Hallucinations? The optimized article included fictional elements, like a smart factory in Jiangxi and a partnership with Würth Elektronik. Perhaps AI "hallucinated" these as future pathways. Is the model seeing what we can't? Testing Doubao's AI The New Eight-Legged Essay? AI-generated content feels homogenized, mirroring the rigid "eight-legged essays" of imperial exams. Modern templates add SWOT analysis and "dialectical unity" conclusions. Asking Baidu's AI about this phenomenon, it agreed: Baidu AI on AI's "Eight-Legged" Tendencies Key Issues: l Buzzword Overload: Terms like "empowerment" and "iteration" mask hollow content. l Homogenized Thinking: Over-reliance on AI erases originality. l Misinformation Risks: AI's "confident nonsense" could poison databases. Root Causes: l Metrics Gone Wild: Forcing AI adoption quotas breeds superficial use. l Creative Laziness: Treating AI as a shortcut undermines human insight. l Anthropomorphism: Mistaking AI for true intelligence leads to blind trust. Solutions: l Human-AI Checks: Mandate manual verification for critical documents. l Ethical Guidelines: Limit AI's role in policymaking and education. Historical Parallels: Guange Style and Eight-Legged Essays The Ming Dynasty's rigid "eight-legged essays" stifled creativity, producing officials who "knew nothing of finance or governance." Similarly, AI risks becoming the "Guange calligraphy" of our era—standardized but lifeless. Conclusion: AI's relationship with humans mirrors early industrialization: machines handle grunt work, but creativity remains human. We must uphold "tools serve, humans lead" to avoid an "AI eight-legged" dystopia. Baidu Al on Historical Lessons Al in 3D Design and ERP Bright Spots Ahead AI's potential is undeniable. Tsinghua's Prof. Zhao Min showcased New Dimension's AI-driven 3D design for lightweight cars. Huaqiangbei's Longway ERP integrated AI for faster component sourcing. Our Kinghelm and Slkor AI Customer Service Robot, developed by Tsinghua prodigy Dr. Ni on Kouzi's framework, slashed costs. More breakthroughs await. Personal Note: Once the "God of War" of Huaqiangbei, I've mellowed into a tea-sipping, bead-twirling retiree. My recent visit to Taiyuan's Tianlong Temple deepened my love for Northern Wei stone Buddhas. Testing Baidu's AI on niche topics like the "Qingzhou Smile" yielded decent answers, though details on "wet drapery" carvings were sparse—likely due to scant data. At least there were no ads! Final Thoughts: As a novice user, observer, and thinker, I hope sharing these reflections fosters dialogue, guiding AI toward a future that truly serves humanity. Media Contact Company Name: Shenzhen Kinghelm Electronics Co., Ltd. Contact Person: Support Email: Send Email Phone: +86 0755-83975897 Address: 2010, Block A, Bairuida Building Vanke City Community Bantian Avenue, Longgang District City: Shenzhen Country: China Website:
Yahoo
16-04-2025
- Business
- Yahoo
Indonesia in Focus as FancyTech's B+ Funding Drives Global AI Content Growth
JAKARTA, Indonesia, April 16, 2025 /PRNewswire/ -- FancyTech, the Grand Winner of the 2024 LVMH Innovation Award and an AI startup specializing in commercial content generation, has successfully closed its Series B+ funding round. The round is co-led by GSR Ventures and Zhilin Capital, with previous backers, including DCM, reaffirming their commitment to further develop FancyTech's AI-driven content platform. The company reported $15 million in annual recurring revenue (ARR) for 2024, doubling its revenue from the previous year. Series B funding will be used to develop FancyTech's AI-driven content platform further and fast-track FancyTech's expansion into priority markets, especially Indonesia. The company has begun collaborating with a select network of Indonesian partners across e-commerce, retail, and creative sectors. Early adopters include Brainchild Communication, a pioneering lifestyle branding creative agency that leverages innovative strategies to enhance brand visibility; Sideroom Studio, a 3D, CGI, and animation studio known for its unique visual storytelling approach; as well as Space and Shapes, a multidisciplinary creative agency specializing in helping brands succeed through innovative and integrated solutions. These Indonesian agencies and creative studios leverage FancyTech's AI tools to enhance speed-to-market and drive their clients' future growth. Indonesia Digital Potential Indonesia, home to more than 280 million people and Southeast Asia's largest digital economy, recorded over $62 billion in e-commerce transactions in 2023 alone—a figure projected to surpass $90 billion by 2026. As mobile usage surges and demand for localized, engaging content grows, Indonesian brands and marketplaces are competing to stand out online. FancyTech's proprietary AI models, specializing in precise object reconstruction and content control, are uniquely positioned to meet this demand. By reconstructing objects with high precision and maintaining brand integrity across various content types, the company trains custom AI models for each client. With the same prompt, these models empower businesses to generate consistent, yet customized, high-impact visuals at scale, resonating with local audiences and aligning with cultural context, crucial for Indonesia's hyper-local consumer landscape. With more than 1,000 clients from over ten countries and newly established global headquarters in Dubai, FancyTech is expanding its sector-specific offerings to support Indonesian enterprises across retail, e-commerce, fintech, travel, and entertainment. As part of its global strategy, FancyTech is actively building an AI content supply chain and collaborating with Indonesia's creators to fuel a more streamlined ecosystem for visual content production. "Our mission in Indonesia is clear," said Bryan Lim, FancyTech's Channel Manager APAC & Indonesia Country Manager. "E-commerce is our strength—where speed, scale, and standout visuals are mission-critical. Yet, we believe this is just the beginning. Our vision is to bring the benefits of AI-generated content to industries far beyond online retail." He added: "Indonesia's rich artistic heritage offers a unique layer of depth to the global AI content supply chain. Indonesian creators are co-architects of a more expressive, culturally intelligent AI future." About FancyTech FancyTech is a global leader in AI-generated content, specializing in high-quality, brand-aligned visual content for businesses. FancyTech helps businesses looking to integrate AI across marketing, design, and digital experiences. In 2024, the company was named Grand Winner of the LVMH Innovation Award and featured on Forbes Asia's "100 to Watch" list. With deep expertise in AI-powered creative and scalable commercial content, FancyTech is shaping how enterprises harness artificial intelligence to elevate their brands and accelerate innovation. View original content: SOURCE FancyTech Sign in to access your portfolio
