Photo credit: Stuart Rankin
Today saw funding for a bike-sharing app, a maker of batteries for drones, and a Chinese space startup.
Aerospace
China’s answer to SpaceX gets US$180 million in series A round (China). Private rocket launching company ExPace raised the money from eight unnamed investors. It will use the funds to develop launch vehicles and enhance its assembly facilities. ExPace launched its first rocket in January, carrying three satellites into orbit. (China Money Network)
Energy
Drone battery maker raises US$30 million at series C (China). Lithium-metal battery startup SolidEnergy – which focuses on producing batteries for unmanned aerial vehicles – got the funding from several undisclosed investors. Temasek, Vertex Ventures, and US automaker General Motors are among its previous backers. (China Money Network)
Life sciences
Tessa Therapeutics secures US$80 million funding (Singapore). The biopharmaceutical startup develops treatments for solid tumors. It will use the funding to conduct clinical trials and further research activities. Temasek and its affiliate Heliconia Capital co-led the round with Karst Peak Capital and the VC arm of Singapore’s Economic Development Board. (DealStreetAsia)
Transportation
Photo credit: Mobike
Line invests in Mobike (Japan). The messaging app participated in the series A fundraise of Mobike Japan, the Chinese bike-sharing startup’s local subsidiary. Line will take a 20 percent stake in the firm in return for an undisclosed amount. Users will be able to unlock and ride Mobike cycles using the Line app. (Tech in Asia)
Didi finally gets its license (China). To be a financial services provider, that is. The ride-hailing company has confirmed its long-rumored acquisition of payments gateway 19Pay in a deal worth US$45.4 million. The real prize that comes with the purchase is 19Pay’s license to handle online payments in China, which will allow Didi to set up its own payments platform and potentially diversify into other financial services in the future. (Caixin)
Fintech
US$10 million injection for Coverfox (India). The online insurance broker received the funds from International Finance Corporation, the World Bank’s private investment unit. Coverfox has previously raised a total of US$22 million, including a US$7.6 million series C round in May, from investors such as Transamerica Ventures, Accel Partners, and SAIF Partners. (VCCircle)
See: Previous Asia tech news roundups
This post Asia tech news roundup – Dec 20 appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/apac-news-20-12-2017
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