Tag∗Tencent

While last week saw several key competitions and the unveiling of new plans across China’s esports industry, the country is currently in a state of grief and resistance in the wake of a shocking natural disaster. The Dota 2’s i-League has started in Shanghai, featuring 1.2 million yuan ($185,000) in total prize money. In the meantime, however, a record-breaking rainstorm struck in the central Chinese province of Henan and its capital city of Zhengzhou.

In last week’s VC news, Microsoft’s China-based spin-off gets a new injection granting it unicorn status, local lingerie industry leader Neiwai raises a whopping $100 million in the latest round, Alibaba and SAIC motors back smart vehicle software startup Banma, attracting $46t4 million in investment from a cohort of new and old backers, all that while the Tencent-backed Indian streaming giant Gaana raises $40 million in debt financing.