Asia tech news roundup – Dec 21

Photo credit: Didi Chuxing

If you thought the days of mega-investments into ride-hailing startups were over, you were wrong.

Transportation

Didi Chuxing pockets US$4 billion (China). The ride-hailing company said it raised the funds to “support AI capacity-building, international expansion, and new business initiatives, including the development of new energy vehicle service networks,” taking its total funding to date to US$23.3 billion. It did not say who invested in the round. (Tech in Asia)

IT and software

IndusOS raises US$4 million in pre-series B fundraise (India). Mumbai-based OSLabs, which develops smartphone operating system IndusOS, said it will use the money to grow its partnerships with the likes of Micromax, Intex, and Ola, and acquire more users. The investment came from unnamed existing investors. OSLabs has previously secured funding from Omidyar Network, VenturEast, and JSW Ventures. (VCCircle)

Media and entertainment

YourNote secures US$1 million in IDG Ventures-led seed round (India). The digital video platform will use the funds to deepen its range of content and increase its user base. (Inc42)

Ecommerce

US$150,000 for EasyEcom (India). The funding came from angel investors and early-stage VC firms, including a 500 Startups affiliate. The startup uses data analytcis to help brand owners manage their online businesses. (VCCircle)

Consumer complaints about ecommerce firms double (India). Unhappy users filed over 50,700 complaints against ecommerce companies this year, far outstripping the 23,955 received by the Indian government’s National Consumer Helpline last year. (Inc42)

Startup business

Photo credit: David Russo

City-state relaxes immigration rules for entrepreneurs (Singapore). The criteria for EntrePass, the country’s long-term visa scheme for entrepreneurs, have been revised. Among the changes expected to simplify immigration for entrepreneurs is the removal of the requirement to have paid-up capital of at least US$37,000 in their startup businesses. (e27)

Investors, incubators, and accelerators

Sequoia planning new US$6 billion fund (Asia-Pacific). The US firm is mulling its third global growth fund in the face of SoftBank’s US$100 billion Vision Fund, which is putting pressure on other VC players to raise much larger pools of capital in order to remain competitive. (Recode)

See: Previous Asia tech news roundups

This post Asia tech news roundup – Dec 21 appeared first on Tech in Asia.

from Tech in Asia https://www.techinasia.com/apac-news-21-12-2017
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