Chinese capital betting on moonshots overseas

by Xinhua writers Lyu Dong and Li Zhengwei BEIJING, July 16 (Xinhua) — Startups looking for funding to develop next-generation technology like artificial intelligence and robotics are increasingly likely to find it in China. Companies working on equipment to deliver parcels to the moon, robots to stock warehouse shelves, and computers capable of acquiring knowledge like a human are among more than 30 startups seeded by Comet Labs since its founding last year. The venture capital firm, created by Chinese investment fund Legend Star, gave the media an introduction to its work this week. It provided only the briefest of glimpses into its investment portfolio, without disclosing further details on the seed companies, but it was enough to make clear the cutting-edge nature of their technology. Legend Star is owned…


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