Asia news roundup: Buterin steps away from Fenbushi, $112m for Pony.ai, and more

Photo credit: TechCrunch

Here’s a wrap of the day’s top news stories.

Transportation

Self-drive startup Pony.ai gets US$112 million at series A (China). The Guangzhou-based firm is developing autonomous vehicle tech and is undertaking road tests in California. Morningside Venture Capital and Legend Capital co-led the round, with IDG Capital, Sequoia Capital, DCM Ventures, Polaris Capital, and Comcast among the others to participate. (China Money Network)

Social media

WeChat plans separate app for brands (China). Zhang Xiaolong, the messaging app’s creator, said that WeChat will release a separate app for its brand-centric Official Accounts feature, aimed at making account management and content creation more user-friendly, as well as improving operationality on personal computers. (Technode)

Consumer tech

Xiaomi partner Huami files for US IPO (China/US). The Hefei-based startup is aiming to raise US$150 million by listing its shares on the Nasdaq. Huami is the world’s leading maker of wearables by units shipped last year, and is Xiaomi’s exclusive design and manufacturing partner for smart watches and fitness trackers. (Technode)

Health and wellbeing

Smart gym Liking Fit raises US$54 million across series B and C rounds (China). The startup operates close to 90 unstaffed “shared” gyms throughout the country that can be accessed 24 hours a day using a mobile phone or smartwatch. Investor Lightspeed China Partners revealed the funding figures; other backers include Sigma Square Capital and an affiliate of China Everbright. (China Money Network)

Investors, incubators, and accelerators

Ethereum co-creator leaves Fenbushi Capital (China). Vitalik Buterin has left his role as a general partner at blockchain and cryptocurrency-focused investment firm Fenbushi, though he may continue in an advisory role. Buterin has appeared increasingly critical of the hype surrounding cryptocurrency trading. (Techcrunch)

Pi Ventures announces US$25 million second close (India). The VC firm – which focuses on investing in early-stage companies developing artificial intelligence and internet-of-things tech – is aiming to raise a total of US$30 million for its fund. Backers include Accel Partners, Small Industries Development Bank of India, the World Bank’s International Finance Corporation, Canada’s In Colour Capital, and manufacturer Hero Electonix. (The Economic Times)

See: Previous Asia news roundups

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from Tech in Asia https://www.techinasia.com/apac-news-16-01-2018
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