Asia news roundup: Google backs Go-Jek and UberFlash comes to Singapore

Photo credit: Go-Jek.

Here’s what happened in Asia-Pacific tech today…

Transportation

Google joins Go-Jek’s latest funding round (Indonesia). The US tech giant, Singapore sovereign fund Temasek, and Chinese ecommerce platform Meituan-Dianping are said to be joining the ride-hailing firm’s new fundraise, which could reach US$1.2 billion. Existing backers KKR and Warburg Pincus will also invest. Google and Temasek were bullish on Southeast Asia’s ride-hailing sector in their recently co-published report on the region’s online industry, while Meituan-Dianping is pushing into China’s ride-hailing space. (Reuters)

Uber and ComfortDelgro offer cut-price fares (Singapore). The two companies – which formed a US$474 million joint venture in Singapore last month – have launched UberFlash, a service they claim will offer fares up to 10 percent cheaper than the US company’s other low-price ride-hailing option, UberX. The new service will hail cars from both Uber dirvers and Delgro’s fleet. (Today)

Social media

Sharechat raises US$18.2 million in Xiaomi-led round (India). Shunwei Capital – the VC firm started by Xiaomi founder Lei Jun – also joined the series B fundraise, alongside existing investors India Quotient, Lightspeed Partners, SAIF Partners, and Venture Highway. Sharechat allows users to create, discover, and share content such as videos and music, and is available in multiple regional Indian languages. (VCCircle)

Robotics

Rokid gets US$100 million investment (China). The startup is developing family serivce robots to carry out household work, as well as smart speakers. Temasek led the round, with participation from Credit Suisse Group, CDIB Capital International, and existing investor IDG Capital. Rokid did not disclose the amount raised, but Chinese media put the figure at close to US$100 million. (China Money Network)

Health and wellbeing

Space Cycle closes US$15 million series B fundraise (Taiwan). Alibaba’s Taiwan Entrepreneurs Fund led the investment in Space Cycle, which operates fitness centers and classes in Taiwan and China. It will use the funding to build new concept studios and enhance its online platform. (China Money Network)

Big tech

Photo credit: Coolceaser / Wikimedia Commons

Broadcom under investigation (Singapore/US). The US-Singaporean chipmaker is facing a probe by the US Federal Trade Commission (FTC), which is investigating whether it engaged in anti-competitive tactics in its negotiations with customers. Broadcom – which is pursuing a record US$103 billion takeover of rival Qualcomm – said the FTC review is “immaterial to our business, does not relate to wireless, and has no impact on our proposal to acquire Qualcomm.” (Reuters)

Investors, incubators, and accelerators

Trump effect? (China/US). Chinese direct investment in the US fell by more than a third last year, amid closer scrutiny of deals in the US and curbs on capital outflow in China. Rising tensions between the two superpowers – driven in part by US president Donald Trump’s isolationist stance and vocal criticism of China’s trade policy – are also thought to have chilled investment activity. (South China Morning Post)

See: Previous Asia news roundups

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from Tech in Asia https://www.techinasia.com/apac-news-18-01-2018
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