Calling a virtual cashier in an unmanned BingoBox outlet / Photo credit: Bingobox
Ride-hailing app Caocao, real estate rentals portal Ziroom, and cashierless convenience store BingoBox all announced big investments today.
Transportation
Caocao Zhuanche secures US$156 million in series A funding (China). The ride-hailing service did not disclose the backers of its latest fundraise, but said its post-money valuation is over US$1.6 billion. Hangzhou-based Caocao has previously received funding from automaker Geely, and exclusively uses Geely-made electric cars in its fleet. (China Money Network)
Didi’s bike-sharing platform goes live (China). The ride-hailing firm now offers dockless bike-sharing through its app in Beijing and Shanghai. Users will be able to hire cycles from Didi portfolio companies ofo and Bluegogo. Those that submit a personal credit score from Ant Financial’s Sesame Credit won’t have to put down a deposit before riding. (Technode)
Photo credit: walkingsky / 123RF
Property and real estate
Ziroom raises US$621 million at series A (China). The startup, which leases apartments from owners and sublets after renovating them, is valued at about US$3.1 billion as a result of the funding. Sequoia Capital, Tencent, and Warburg Pincus co-led the round, with several Chinese VC firms also participating. (Caixin)
Fintech
Grab acquires payments startup iKaaz (Singapore/India). The Bangalore-based team will join Grab’s research and development center in the city. The acquisition comes at the start of a year in which Grab aims to establish its GrabPay digital payments service across Southeast Asia. (Grab)
Alipay partners Shanghai Metro (China). Commuters in China’s largest city will soon be able to pay their subway fares using Alipay, Ant Financial’s QR code-based payments app. Alipay payments are already possible on public transport systems in Hangzhou and Xi’an, while rival app WeChat Pay can be used to pay for travel in 23 cities across the country. (Technode)
Retail
BingoBox closes US$80 million series B round (China). Cashierless convenience store chain BingoBox will use the funds to expand its presence in the country, with the aim of having one of its “boxes” within 2 kilometers’ reach for everyone in the 29 cities it operates in. The startup faces plenty of competition, with tech giants Alibaba, Tencent, and JD all entering the unmanned store space. Fosun Capital led the round, with Ventech China joining in. (Ventech China)
Self-checkout station in a BingoBox outlet / Photo credit: Tech in Asia
Education
Pre-series A injection for CollPoll (India). The startup, which develops an online collaboration platform for academic institutions, raised the undisclosed amount from Manipal Global Education Services and several individual investors. (VCCircle)
Big tech
Google opens Shenzhen office (China). In the latest sign of its return to China – a market it appeared to have written off years ago due to heavy-handed censorship – Google has established a presence in the tech startup and manufacturing hub to better serve clients located in the area. (TechCrunch)
Investors, incubators, and accelerators
Entrepreneur First unveils second Asia cohort (Singapore). The UK-based startup builder – which is backed by SGInnovate, the Singaporean government’s deep tech investment program – named 14 startups to its second intake in the the region. The selected startups work in fields including AI, energy, IoT, medtech, and logistics. (Entrepreneur First)
See: Previous Asia news roundups
This post Asia news roundup: Mega rounds for BingoBox, Caocao, and Ziroom appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/apac-news-17-01-2018
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