Tencent Launches Video Conference App VooV, Tech Startups Gain Momentum

Tencent has launched a new video conferencing application called VooV that offers its services to international users. The Chinese tech giant also developed express logistics services with SFMAP Technology that has gained more than 100 million yuan in a series of round financing.

In an official statement, Tencent announced the launching of its Zoom-like application called VooV meeting that would also cater to overseas markets. It offers its services to hundreds of countries such as France, Germany, Austria, UAE, Singapore, Thailand, Japan, Costa Rica, Egypt, Chile, and Korea, among others.

The establishment of the platform was a response to a large number of market demand for online meetings globally due to the pandemic. VooV Meeting then supplied services that cater up to 300 users of online conferences for free.

Last December 2019, the company released a new feature called Tencent Marketing that is an online conferencing platform for Chinese users. It could be accessible through laptops, smartphones, and iPads. The feature was sought-after in the country and generated 10 million active users daily.

The company also made its application-programming-interface (API) for the public on the hopes to advance synergies for industries. At present, VooV goes against its strongest market competitors Zoom, Microsoft Teams, and DingTalk, Alibaba's all-in-one company communication application.

On the other hand, SFMAP Technology, another Chinese subsidiary of the express logistics service provider SF, gained more than 100 million yuan in a Serie A round of financing. Last Wednesday, the company released a statement led by Everest Venture Capital, an investment management firm that operates on high-tech startups.

The statement revealed that the Series A round was participated by firms such as private equity Maison Capital, Oriza Holdings, and Jade Capital. The tech-focused venture capital firm 100Summit Partners posed as the financial advisor on the deal.

Their incubator project focused on creating high definition map technology. The venture would create precise maps for artificial intelligence (AI)-driven systems. It would provide reliable location solutions for enterprises, governments, smart devices, and individuals globally.

The technology created by the venture is widely used in SF covering logistics, distribution, express orders, and operation management services. It has provided such services of petroleum, electric power, public security, urban development, ad smart city industries.

SFMAP also revealed that it would improve its services and capacities in the smart city sector. The improvements would involve the development of industrial-oriented Internet of Things (IoT) and the establishment of a more intelligent supply chain technology to improve customer experience.