Asia news roundup: Carousell’s latest funding, SoftBank’s uber Uber investment, and more

Carousell co-founders Quek Siu Rui (L), Lucas Ngoo (M), and Marcus Tan (R) / Photo credit: Carousell

These were the top tech stories this Friday.

Ecommerce

Carousell confirms new investors (Singapore). Regulatory filings reveal that Carousell has secured at least US$45.3 million in funding since its series B round in August 2016. The online classifieds portal said it has new investors, but did not share any further details. Filings with Singapore’s Accounting and Corporate Regulatory Authority indicate that EDBI, the VC arm of the city-state’s Economic Development Board, is among the company’s new backers. (Tech in Asia)

Quikr reports 55 percent increase in turnover (India). The online classifieds site generated US$10 million in revenue last year, a significant increase from the US$6.4 million it made a year earlier. Quikr’s acquisitions of startups in real estate, hyperlocal services, and online job search have contributed to this revenue growth, accounting for up to 55 percent of the company’s income last year. (The Economic Times)

Health and well-being

The CareVoice raises US$2 million (China). The online platform for health insurers and patients secured funds from China’s Haitao Capital and US accelerator SOSV, in addition to a several other investors. It will use the money to expand to Southeast Asia, as well as for tech and business development. (The CareVoice)

Enterprise software

Microsoft plans to take made-for-India app worldwide (India/US). Microsoft designed Kaizala, its mobile workplace productivity app, specifically for the Indian market. But its success there so far is encouraging the US company to develop versions for territories with similar mobile penetration trends, including several in Southeast Asia and Africa. (The Economic Times)

Big tech

Tencent and Google sign patent deal (China/US). The two companies have agreed to cross-license parts of their global patent portfolios, effectively eliminating the threat of patent infringement disputes between them and opening the door to future R&D collaboration. Google has previously signed similar deals with the likes of Samsung, LG, Cisco, and Verizon, but this marks the first time it has done so with a Chinese company. (Bloomberg)

Investors, incubators, and accelerators

Photo credit: MIKI Yoshihito / Flickr

SoftBank closes US$1.2 billion Uber investment (Japan/US). The Japanese tech giant’s primary direct investment deal has officially closed. The governance structure changes that Uber agreed to as part of the deal are also coming into effect. SoftBank is now Uber’s largest shareholder, bringing a new dimension to its battle against rivals in Asia, such as Go-Jek, Grab, and Ola. Uber founder and former CEO Travis Kalanick has become a billionaire thanks to the deal, which saw him sell about 30 percent of his stake to SoftBank. (TechCrunch)

See: Previous Asia news roundups

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from Tech in Asia https://www.techinasia.com/apac-news-19-01-2018
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