Clik here to view.
Three Indonesian tech unicorns unite to back digital insurance startup
It’s almost unheard of to see three unicorns join forces to fund a startup, but that’s exactly what has happened in Indonesia. Ride-hailing company Go-Jek, e-commerce firm Tokopedia and travel booking...
View ArticleWeWork China rival Ucommune raises $43.5M more at a $1.8B valuation
Barely weeks after WeWork China raised $500 million, one of its main rivals is refueling its tanks too. Ucommune — the company formerly known as UrWork until a WeWork lawsuit forced a rebrand —...
View ArticleClik here to view.
Singapore’s Openspace Ventures closes new $135M fund for Southeast Asia
It seems like everyone is out there raising new funds in Southeast Asia. Weeks after we reported Golden Gate Ventures hit a first close on its third fund aimed at $100 million, so Openspace Ventures —...
View ArticleUber is on a hiring spree in Singapore despite ‘exiting’ Southeast Asia
Uber agreed to sell its Southeast Asia business in March, but it isn’t leaving the region. In fact, the U.S. firm is literally doubling down with plans to more than double its staff in Singapore....
View ArticleKorea’s Naver backs Southeast Asia-based e-commerce startup iPrice
iPrice, an e-commerce aggregation service in Southeast Asia, has landed a strategic investment from Naver — the Korean internet giant that’s valued at over $21 billion — as part of a follow-on to the...
View ArticleClik here to view.
Stealthy Singapore VC firm Qualgro is raising a $100M fund
Southeast Asia’s venture capital space is booming right now. Openspace Ventures just announced the close of its newest $135 million fund, Golden Gate Ventures hit the first close on its upcoming $100...
View ArticleClik here to view.
Sequoia wraps up new $695M fund for India and Southeast Asia
Sequoia has announced the close of its newest fund for India and Southeast Asia. The firm has raised $695 million for this fund, which is its fifth since it expanded into India 12 years ago. Reports at...
View ArticleClik here to view.
E-commerce drives Southeast Asia’s Sea to record revenue but big losses remain
Sea, one of Southeast Asia’s largest internet companies, continues to see losses although its growing e-commerce business helped it hit record revenue. The Tencent-backed company went public back in...
View ArticleClik here to view.
Xiaomi posts $2.1B profit in its first quarter as a public company
Chinese smartphone firm Xiaomi has posted a $2.1 billion profit for its first quarter of business as a public company on account of growing smartphone and hardware sales. The firm listed in Hong Kong...
View ArticleAlibaba confirms it raised $3B for its newly consolidated local services...
Alibaba has confirmed that it has raised $3 billion for its new-look local services business after it united its Koubei local services business with Ele.me, the on-demand delivery business it recently...
View ArticleSoutheast Asia’s Grab plans electric vehicle push
Grab, the ride-hailing company that consumed Uber’s business in Southeast Asia, today made a big push to grow the number of electric vehicles in its fleet after it partnered with energy supplier...
View ArticleClik here to view.
Google is supercharging its Tez payment service in India ahead of global...
Google launched its Tez payment app in India a year ago, and now the company is giving the service a major push into retail as it prepares to expand it to other parts of Asia and beyond. The app itself...
View ArticleClik here to view.
Terra is an ambitious crypto project to build a stable coin through e-commerce
Four of the world’s largest crypto exchanges are leading a $32 million investment in an ambitious venture out of Korea that’s aiming to develop a new stable coin using e-commerce as the lynchpin....
View ArticleSoutheast Asia’s Fave raises $20M and adds mystery strategic investor from China
So you thought group-buying was dead?! Not in Southeast Asia where Fave, a company that aims to connect local merchants with customers using discount sales, has closed a $20 million Series B round as...
View ArticleJack Ma says he isn’t about to retire from Alibaba but is planning a gradual...
Reports of Jack Ma’s impending retirement are greatly exaggerated, it seems. Ma, the co-founder and executive chairman of Alibaba, has pushed back on claims that he is on the cusp of leaving the $420...
View ArticleClik here to view.
Indonesian fintech startup Moka raises $24M led by Sequoia India
Indonesia’s Moka, a startup that helps SMEs and retailers manage payment and other business operations, has pulled in a $24 million Series B round for growth. The investment is led by Sequoia India and...
View ArticleGolden Gate Ventures closes new $100M fund for Southeast Asia
Singapore’s Golden Gate Ventures has announced the close of its newest (and third) fund for Southeast Asia at a total of $100 million. The fund hit a first close in the summer, as TechCrunch reported...
View ArticleClik here to view.
Mobile social network Path, once a challenger to Facebook, is closing down
It’s that time again, folks, time to say goodbye to a social media service from days past. Following the shuttering of Klout earlier this year, now Path, the one-time rival to Facebook, is closing its...
View ArticleGo-Jek plans to raise $2B more for Southeast Asia ride-hailing battle
Indonesia’s Go-Jek is planning to raise $2 billion from investors to fuel its ride-hailing battle with Grab in Southeast Asia. Go-Jek raised $1.5 billion earlier this year from investors that include...
View ArticleEight Roads Ventures targets Southeast Asia deals
Eight Roads Ventures, the investment arm of financial giant Fidelity International, is moving into Southeast Asia where it sees the potential to plug the later stage investment gap. The firm has funds...
View Article